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United States · Bill · HR

H.R. 7000 (118th)

Business of Insurance Regulatory Reform Act of 2024

referredUnited States· United States Congress· EN

Introduced

16 January 2024

Last action

Status

Referred to the House Committee on Financial Services.

Sponsors

Subjects

Discovery layer

Source updated

10 September 2024

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.

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Documents

3 official files

Introduced in House (text)

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Sources

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