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S. 3592 118th Congress Senate

Business of Insurance Regulatory Reform Act of 2024

Official title: A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection with respect to persons r… Show full official titleShow less

Official title: A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection with respect to persons regulated by a State insurance regulator, and for other purposes.

Introduced: January 16, 2024 Introduced by: Tim Scott Republican · South Carolina See on congress.gov
Finance and Financial Sector
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2024
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 16, 2024
Introduced in Senate
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 Latest action January 16, 2024

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

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • HR 7000 Business of Insurance Regulatory Reform Act of 2024
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 3592: Business of Insurance Regulatory Reform Act of 2024. 118th Congress. Open America. https://openamerica.io/bill/118-S-3592/
MLA
"S. 3592: Business of Insurance Regulatory Reform Act of 2024." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-3592/.
Bluebook (legal)
S. 3592, 118th Cong. (2026), https://openamerica.io/bill/118-S-3592/.
Markdown link
[S. 3592: Business of Insurance Regulatory Reform Act of 2024](https://openamerica.io/bill/118-S-3592/)
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