S. 2419

Summary

S. 2419, the Business of Insurance Regulatory Reform Act of 2025, was introduced in the Senate on Jul 23, 2025 by Sen. Tim Scott (R) with 5 co-sponsors. It was referred to Banking, Housing, And Urban Affairs, and last saw action on Jul 23, 2025: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Record

Text

S. 2419 has 5 co-sponsors.

119 S2419 IS: Business of Insurance Regulatory Reform Act of 2025
 U.S. Senate
 2025-07-23
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 2419  IN THE SENATE OF THE UNITED STATES   July 23, 2025   Mr. Scott of South Carolina  (for himself,  Mr. Rounds ,  Ms. Lummis ,  Mr. Ricketts , and  Mr. Moreno ) introduced the following bill; which was read twice and referred to the  Committee on Banking, Housing, and Urban Affairs    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.
1.
Short title
This Act may be cited as the   Business of Insurance Regulatory Reform Act of 2025  .
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)
in the paragraph heading, by striking
Description of activities   and inserting
Exceptions  ;
(B)
by striking  Paragraph (1)  and inserting the following:
(A)
Authority
Paragraph (1)
 ; and
(C)
by inserting after subparagraph (A), as so designated, the following:
(B)
Limitation
With respect to a person regulated by a State insurance regulator—
(i)
if that person is offering or providing a consumer financial product or service, the Bureau may not enforce this title with respect to that person to the extent that the person is engaged in the business of insurance; or
(ii)
if that 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 that law with respect to that person shall be narrowly construed to the extent that the person is engaged in the business of insurance.
 ; and
(2)
by adding at the end the following:
(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 the State insurance regulator.
 .

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

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.

Sponsors

Sen. Tim Scott (R) sponsors S. 2419, and 5 members have co-sponsored it, 4 of them from the day it was introduced.

Tim Scott

Sen. · R–SC · Sponsor

Introduced Jul 23, 2025

Cynthia Lummis

Sen. · R–WY · Co-sponsor

Joined Jul 23, 2025 · Original

Bernie Moreno

Sen. · R–OH · Co-sponsor

Joined Jul 23, 2025 · Original

Pete Ricketts

Sen. · R–NE · Co-sponsor

Joined Jul 23, 2025 · Original

Mike Rounds

Sen. · R–SD · Co-sponsor

Joined Jul 23, 2025 · Original

Katie Boyd Britt

Sen. · R–AL · Co-sponsor

Joined Jul 28, 2025

Show 6 of 6 rows

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Committees

S. 2419 went before 1 committee: Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs

Banking, Housing, and Urban Affairs

Referred To · Jul 23, 2025 · 465 Bills

Actions

S. 2419 has taken 2 actions since Jul 23, 2025.

Votes

S. 2419 has not gone to a roll call.

Titles

S. 2419 goes by 3 titles, 1 of them short titles.

• Business of Insurance Regulatory Reform Act of 2025 — Display Title
• Business of Insurance Regulatory Reform Act of 2025 — Short Title(s) as Introduced
• 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. — Official Title as Introduced

Lobbying

5 clients hired 5 firms and 34 registered lobbyists who named S. 2419 in 19 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Insurance, Consumer Issues/Safety/Products, Taxation/Internal Revenue Code, Financial Institutions/Investments/Securities, Trade (domestic/foreign), Agriculture, Banking, Disaster Planning/Emergencies.

Clients

Who paid to be heard, by how many filings named the bill.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 34.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files S. 2419 under Finance and Financial Sector, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 2419’s is Finance and Financial Sector.

Source: congress.gov · legiscan.com