Business of Insurance Regulatory Reform Act of 2024
This bill died when its Congress ended.
Bills don't carry over between Congresses. Without re-introduction in a new session, it cannot advance.
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.
Filed in the Senate
This senate bill has been filed and is working its way through Congress. It will need to pass both the Senate and the House, then be signed by the President to become law.
Who introduced this
Tim Scott
RepublicanU.S. Senator · SC
1 cosponsor — all Democrat
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