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]
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.
Title
Business of Insurance Regulatory Reform Act of 2020
Sponsors
Sen. Tim Scott [R-SC] | Sen. Joe Manchin [D-WV] |
History
Date | Chamber | Action |
---|---|---|
2020-07-27 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Insurance industry and regulation
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Finance and financial sector
Insurance industry and regulation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4325/all-info |
Text | https://www.congress.gov/116/bills/s4325/BILLS-116s4325is.pdf |