State Insurance Regulation Preservation Act

Senate Bill 3123 - State Insurance Regulation Preservation Act: Overview, Status, and Impact

Hozzl · 2022-10-28T01:46:12Z

Explore the details of Senate Bill 3123 State Insurance Regulation Preservation Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

10/28/2022, 1:46 AM

Congressional Summary of S 3123

State Insurance Regulation Preservation Act

This bill provides for the registration of insurance savings and loan holding companies. Certain Federal Reserve Board (FRB) regulations as applied to these companies must be tailored to the insurance business and applicable state insurance requirements.

The bill generally excludes assets attributable to the business of insurance for the purpose of calculating whether these companies are subject to certain FRB assessments and fees.

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Current Status of Bill S 3123

Bill S 3123 is currently in the status of Bill Introduced since December 19, 2019. Bill S 3123 was introduced during Congress 116 and was introduced to the Senate on December 19, 2019. Bill S 3123's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 19, 2019

Bipartisan Support of Bill S 3123

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3123

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures

- Banking and financial institutions regulation

- Business records

- Corporate finance and management

- Federal Reserve System

- Insurance industry and regulation

- Licensing and registrations

Alternate Title(s) of Bill S 3123

State Insurance Regulation Preservation Act

A bill to amend the Home Owners' Loan Act with respect to the registration and supervision of insurance savings and loan holding companies, and for other purposes.