US Congress House Bill 6423 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on September 14 2012 - 25% progression, died in committee
Action: 2012-10-01 - Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
Pending: House Subcommittee on Insurance, Housing and Community Opportunity Committee
Text: Latest bill text (Introduced) [PDF]

Insurance Consumer Protection and Solvency Act of 2012 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude an insurance company from the definition of a "financial company" for purposes of such Act (thus removing an insurance company from the purview of the Act). Removes from the Federal Deposit Insurance Corporation (FDIC) the authority to place insurance companies into orderly liquidation. Excludes from the definition of "eligible financial company" for purposes of risk-based assessments an insurance company subject to assessment under state law to cover the costs of state insolvency proceeding regarding an insurance company.

Insurance Consumer Protection and Solvency Act of 2012

Rep. Bill Posey [R-FL]

Rep. Judy Biggert [R-IL]

Date	Chamber	Action
2012-10-01	House	Referred to the Subcommittee on Insurance, Housing and Community Opportunity.
2012-09-14	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/6423/all-info
Text	https://www.congress.gov/112/bills/hr6423/BILLS-112hr6423ih.pdf