H.R. 4735

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4735 Introduced in House (IH)]

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119th CONGRESS
1st Session
H. R. 4735

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.

_______________________________________________________________________

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

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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.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Business of Insurance Regulatory 
Reform Act of 2025''.

SEC. 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.''.
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