US SB4325 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on July 27 2020 - 25% progression, died in committee
Action: 2020-07-27 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Revises the authority of the Consumer Financial Protection Bureau (CFPB) over activities regulated by a state insurance regulator. The CFPB may not pursue enforcement against any person regulated by a state insurance regulator and offering a consumer financial product or service, to the extent that 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 otherwise subject to the CFPB's enforcement authority, the CFPB must construe its authority narrowly.

Tracking Information

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Title

Business of Insurance Regulatory Reform Act of 2020

Sponsors


History

DateChamberAction
2020-07-27SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Subjects


US Congress State Sources


Bill Comments

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