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    <congress>118</congress>
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        <name>Banking, Housing, and Urban Affairs Committee</name>
        <chamber>Senate</chamber>
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            <date>2024-01-16T22:15:59Z</date>
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        <title>Business of Insurance Regulatory Reform Act of 2024</title>
        <congress>118</congress>
        <number>7000</number>
        <type>HR</type>
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          <actionDate>2024-01-16</actionDate>
          <text>Referred to the House Committee on Financial Services.</text>
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        <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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        <actionDate>2024-01-16</actionDate>
        <text>Introduced in Senate</text>
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    <sponsors>
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        <bioguideId>S001184</bioguideId>
        <fullName>Sen. Scott, Tim [R-SC]</fullName>
        <firstName>Tim</firstName>
        <lastName>Scott</lastName>
        <party>R</party>
        <state>SC</state>
        <isByRequest>N</isByRequest>
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    <cosponsors>
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        <bioguideId>M001183</bioguideId>
        <fullName>Sen. Manchin, Joe, III [D-WV]</fullName>
        <firstName>Joseph</firstName>
        <lastName>Manchin</lastName>
        <party>D</party>
        <state>WV</state>
        <sponsorshipDate>2024-01-16</sponsorshipDate>
        <isOriginalCosponsor>True</isOriginalCosponsor>
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    <policyArea>
      <name>Finance and Financial Sector</name>
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      <policyArea>
        <name>Finance and Financial Sector</name>
        <updateDate>2024-02-13T19:15:32Z</updateDate>
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        <actionDate>2024-01-16</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2024-08-22T15:16:10Z</updateDate>
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          <text>&lt;p&gt;&lt;strong&gt;Business of Insurance Regulatory Reform Act of 2024&lt;/strong&gt;&lt;/p&gt;&lt;p&gt;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.&lt;/p&gt;</text>
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    <title>Business of Insurance Regulatory Reform Act of 2024</title>
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        <title>Business of Insurance Regulatory Reform Act of 2024</title>
        <updateDate>2024-07-24T15:19:20Z</updateDate>
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        <titleType>Short Title(s) as Introduced</titleType>
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        <title>Business of Insurance Regulatory Reform Act of 2024</title>
        <updateDate>2024-05-24T13:34:30Z</updateDate>
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      <item>
        <titleType>Official Title as Introduced</titleType>
        <titleTypeCode>6</titleTypeCode>
        <title>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.</title>
        <updateDate>2024-02-15T09:08:23Z</updateDate>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
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        <date>2024-01-16T05:00:00Z</date>
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    <latestAction>
      <actionDate>2024-01-16</actionDate>
      <text>Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.</text>
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    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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