H.R. 4735

119th CONGRESS 1st Session

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 · Sponsor: Mr. Steil · Committee: Committee on Financial Services

Table of contents

• H.R. 4735
  • SEC. 1. Short title
  • SEC. 2. Clarification to the authority of the Bureau with respect to persons regulated by a State insurance regulator

SEC. 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 () is amended— 12 U.S.C. 5517(f)
  • in paragraph (2)—
    • by striking and inserting:
      • (A) Authority
        • Paragraph (1)
      • (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.
    • by inserting after subparagraph (A) (as added by this Act) the following new subparagraph:
    • (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.
  • by adding at the end the following new paragraph: