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HR 1478 114th Congress House Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Bankruptcy Federal Reserve System Financial crises and stabilization Insurance industry and regulation

Policyholder Protection Act of 2015

Introduced: May 12, 2015 See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 14 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 17, 2015
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Nov 16, 2015
Motion to reconsider laid on the table Agreed to without objection.
Nov 16, 2015
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8217)
Nov 16, 2015
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8217)
Nov 16, 2015
DEBATE - The House proceeded with forty minutes of debate on H.R. 1478.
Nov 16, 2015
Considered under suspension of the rules. (consideration: CR H8217-8219)
Nov 16, 2015
Mr. Posey moved to suspend the rules and pass the bill, as amended.
Nov 16, 2015
Placed on the Union Calendar, Calendar No. 260.
Nov 16, 2015
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-338.
Nov 4, 2015
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Nov 4, 2015
Committee Consideration and Mark-up Session Held.
Nov 3, 2015
Committee Consideration and Mark-up Session Held.
Mar 19, 2015
Referred to the House Committee on Financial Services.
Mar 19, 2015
Introduced in House
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 Plain-English summary Congressional Research Service

Policyholder Protection Act of 2015

This bill amends the Federal Deposit Insurance Act to declare that any action of the Federal Deposit Insurance Corporation (FDIC) that requires a bank holding company to provide funds or other assets to a subsidiary depository institution is neither effective nor enforceable with respect to a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and directly or indirectly controls an insured depository institution (entities) if:

  • such funds or assets are to be provided by the entity, and
  • the relevant state insurance authority determines that such an action would have a materially adverse effect on the entity's financial condition.

The bill declares that requiring a bank holding company that is an insurance company to serve as a source of financial strength shall be deemed the kind of action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution for specified purposes of the Bank Holding Company Act of 1956.

The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, with respect to systemic risk determination and the treatment of insurance companies and their subsidiaries, to authorize the FDIC to stand in the place of the appropriate regulatory agency and file a judicial action to place such companies into orderly rehabilitation under state law if the appropriate regulatory agency has not done so.

The FDIC, when funding the orderly liquidation of an insurance company or its subsidiary, shall notify the relevant state insurance authority promptly of its intention to take a lien on the company's assets.

The FDIC may not take such a lien, however, if the state insurance authority informs it that doing so would have a materially adverse effect upon the insurance company's policyholders.

What's happening now November 17, 2015

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Related & companion bills 4
  • S 1910 Related bill Financial Services and General Government Appropriations Act, 2016
  • HR 2029 Related bill Consolidated Appropriations Act, 2016
  • S 2132 Related bill An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016
  • S 798 Identical bill Policyholder Protection Act of 2015
 Bill text 4 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 20
All 20 Democratic 1 Republican 14
R
Lucas, Frank D.
Oklahoma · Sep 24, 2015
 R
Emmer, Tom
Minnesota · Sep 10, 2015
 R
Harris, Andy
Maryland · Jul 27, 2015
 R
Barr, Andy
Kentucky · Jul 21, 2015
 R
Cramer, Kevin
North Dakota · Jul 8, 2015
Poliquin, Bruce
· Jun 16, 2015
Roby, Martha
· Jun 1, 2015
 R
Gosar, Paul A.
Arizona · May 29, 2015
 R
Joyce, David P.
Ohio · May 29, 2015
 R
Webster, Daniel
Florida · May 29, 2015
 R
Amodei, Mark E.
Nevada · May 18, 2015
Duffy, Sean
· May 12, 2015
 R
Guthrie, Brett
Kentucky · May 12, 2015
Noem, Kristi
· May 12, 2015
Blum, Rod
· Apr 29, 2015
 R
Grothman, Glenn
Wisconsin · Apr 29, 2015
 R
Huizenga, Bill
Michigan · Apr 27, 2015
 R
Wagner, Ann
Missouri · Apr 27, 2015
 R
Wilson, Joe
South Carolina · Apr 27, 2015
 D
Sherman, Brad
California · Mar 19, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1478: Policyholder Protection Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-1478/
MLA
"H.R. 1478: Policyholder Protection Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-1478/.
Bluebook (legal)
H.R. 1478, 114th Cong. (2026), https://openamerica.io/bill/114-HR-1478/.
Markdown link
[H.R. 1478: Policyholder Protection Act of 2015](https://openamerica.io/bill/114-HR-1478/)
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