Business of Insurance Regulatory Reform Act of 2025

119 HR 4735 IH: Business of Insurance Regulatory Reform Act of 2025 U.S. House of Representatives 2025-07-23 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I 119th CONGRESS 1st Session H. R. 4735 IN THE HOUSE OF REPRESENTATIVES July 23, 2025 Mr. Steil (for himself, Mr. Barr , Mr. Meuser , Mr. Huizenga , Mr. Fitzgerald , and Mr. Nunn of Iowa ) introduced the following bill; which was referred to the Committee on Financial Services 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. 1. Short title This Act may be cited as the Business of Insurance Regulatory Reform Act of 2025 . 2. Clarification to the authority of the Bureau with respect to persons regulated by a State insurance regulator Section 1027(f) of the Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5517(f) ) is amended— (1) in paragraph (2)— (A) by striking Description of activities.— Paragraph (1) and inserting: Exceptions.— (A) Authority Paragraph (1) ; and (B) by inserting after subparagraph (A) (as added by this Act) the following new subparagraph: (B) Limitation With respect to a person regulated by a State insurance regulator— (i) and if such person is offering or providing a consumer financial product or service, the Bureau may not enforce this title with respect to such person to the extent such person is engaged in the business of insurance; or (ii) and if such person is subject to any enumerated consumer law or any law for which authorities are transferred under subtitle F or H, the authority of the Bureau to enforce such law with respect to such person shall be narrowly construed to the extent such person is engaged in the business of insurance. ; and (2) by adding at the end the following new paragraph: (4) Rule of construction The enforcement of this title shall be broadly construed in favor of the authority of a State insurance regulator with respect to a person regulated by a State insurance regulator. .