Bill > S2419

This bill, known as the "Business of Insurance Regulatory Reform Act of 2025," amends the Consumer Financial Protection Act of 2010 to clarify and limit the Bureau of Consumer Financial Protection's (CFPB) authority over entities regulated by state insurance regulators. Specifically, the bill restricts the CFPB's enforcement powers for persons engaged in the business of insurance. Under the new provisions, if an insurance-related entity is offering a consumer financial product or service, the CFPB cannot enforce its regulations with respect to insurance-specific activities. Additionally, for laws that the CFPB is authorized to enforce, its authority will be narrowly interpreted when the entity is conducting insurance business. The bill also includes a rule of construction that broadly favors the authority of state insurance regulators over persons they regulate, effectively giving state regulators more control and discretion in overseeing insurance-related financial activities. This legislative change aims to provide clearer boundaries for federal financial regulation in the insurance sector and reinforce the primary role of state-level insurance regulators.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/2419/all-info