Business of Insurance Regulatory Reform Act of 2018
Latest action · Apr 18, 2018 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 18, 2018
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Business of Insurance Regulatory Reform Act of 2018
This bill amends the Consumer Financial Protection Act of 2010 to revise the authority of the Consumer Financial Protection Bureau (CFPB) over activities regulated by a state insurance regulator. The CFPB may not enforce the Act 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 Act, the CFPB must construe its authority narrowly.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Apr 18, 2018 to Apr 19, 2018; 3 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-WV | Joe Manchin III | Original | Apr 18, 2018 |
| R-SD | Mike Rounds | Original | Apr 18, 2018 |
| D-WI | Tammy Baldwin | Original | Apr 18, 2018 |
| R-IA | Joni Ernst | Apr 19, 2018 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred Apr 18, 2018 |
Actions 2
Everything that happened, newest first.
- Apr 18, 2018Introduced in Senate
- Apr 18, 2018Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R44958 | Insurance Regulation: Legislation in the 115th Congress Archived | Report | Oct 19, 2018 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3746 | Business of Insurance Regulatory Reform Act of 2017 | Related bill | May 10, 2018 |
| S 4325 | Business of Insurance Regulatory Reform Act of 2020 | Reintroduced Bill | Jul 27, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection with respect to persons regulated by a State insurance regulator, and for other purposes.
- Short Titles as Introduced
- Business of Insurance Regulatory Reform Act of 2018
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 18, 2018Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
