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State Insurance Regulation Preservation Act

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.

Read the Full Bill

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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
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

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
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.

Comments

Sponsors and Cosponsors of S 3123

Thom Tillis
Thom Tillis
North CarolinaRepublican
Kyrsten Sinema
Kyrsten Sinema
ArizonaIndependent

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