Less federal oversight for state-regulated insurance companies, more power for states.
This bill would reduce the power of the federal Bureau of Consumer Financial Protection over state-regulated insurance companies. It aims to give state insurance regulators the main authority over how these companies operate, particularly when they are engaged in the business of insurance. This means less federal enforcement for these companies.
Today, the federal Bureau of Consumer Financial Protection (BCFP) can enforce consumer protection laws against insurance companies, even if those companies are also regulated by states. If this bill passes, the BCFP's power to enforce these laws against state-regulated insurance companies would be significantly reduced and interpreted very strictly. State regulators' power, on the other hand, would be emphasized.
HR 4735 · 119th Congress · July 23, 2025 · AI Summary by gemini-2.5-flash · 10/10
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10 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.