Business of Insurance Regulatory Reform Act of 2020
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jul 27, 2020)
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.
What just happenedJul 27, 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who’s behind it
- Introduced in SenateJul 27, 2020
- Jul 27, 2020IntroReferral
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Banking, Housing, and Urban Affairs Committee - Jul 27, 2020IntroReferral10000
Introduced in Senate