Bill Sponsor
Senate Bill 4325
116th Congress(2019-2020)
Business of Insurance Regulatory Reform Act of 2020
Introduced
Introduced
Introduced in Senate on Jul 27, 2020
Overview
Text
Sponsor
Introduced
Jul 27, 2020
Latest Action
Jul 27, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4325
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
South Carolina
Democrat
West Virginia
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Business of Insurance Regulatory Reform Act of 2020

This bill 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.

Text (1)
Actions (2)
07/27/2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
07/27/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:45:35 PM