S 2702
115th Congress
Senate
Finance and Financial Sector
Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer Financial Protection Bureau
Consumer credit
Insurance industry and regulation
Business of Insurance Regulatory Reform Act of 2018
Introduced: April 18, 2018
Introduced by:
Scott, Tim
Republican
· South Carolina
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 18, 2018
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 18, 2018
Introduced in Senate
Plain-English summary
Business of Insurance Regulatory Reform Act of 2018
This bill amends the Consumer Financial Protection Act of 2010 to revise the authority of the Consumer Financial Protection Bureau (CFPB) over activities regulated by a state insurance regulator. The CFPB may not enforce the Act against any person regulated by a state insurance regulator and offering a consumer financial product or service, to the extent that person is engaged in the business of insurance. If a person engaged in the business of insurance is regulated by a state insurance regulator but otherwise subject to the Act, the CFPB must construe its authority narrowly.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1