S 4325
116th 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 2020
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 27, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 27, 2020
Introduced in Senate
Plain-English summary
Business of Insurance Regulatory Reform Act of 2020
This bill revises the authority of the Consumer Financial Protection Bureau (CFPB) over activities regulated by a state insurance regulator. The CFPB may not pursue enforcement 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 CFPB's enforcement authority, 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