HR 7000
118th Congress
House
Finance and Financial Sector
Business of Insurance Regulatory Reform Act of 2024
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2024
Introduced in House
Jan 16, 2024
Referred to the House Committee on Financial Services.
Plain-English summary
Business of Insurance Regulatory Reform Act of 2024
This bill limits the authority of the Consumer Financial Protection Bureau over entities that are regulated by a state insurance regulator. Specifically, the bureau is prohibited from pursuing enforcement against any person regulated by a state insurance regulator and offers a consumer financial product or service, to the extent that the 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 is otherwise subject to the bureau's enforcement authority, the bureau must construe its authority narrowly.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1