Business of Insurance Regulatory Reform Act of 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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
President
Introduced Jan 16, 2024
Last action Jan 16, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jan 16, 2024
Committee
Referred to the House Committee on Financial Services.
lower
Jan 16, 2024
Introduced
Introduced in House
lower
1 primary · 4 co-sponsors
Sponsors
Ask Maddy
·
AI policy assistant
Ask Maddy about HR 7000
Scope: US
Hi! I can help you understand HR 7000. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline