Bill That Could Narrow CFPB’s Insurance Authority Is Back

January 23, 2024 by Allison Bell

Lawmakers have revived efforts to keep the Consumer Financial Protection Bureau from trying to regulate the insurance activities of companies or individuals that are under the jurisdiction of state insurance regulators.

The bill, the Business of Insurance Regulatory Reform Act of 2024, would also require the CFPB to construe its authority narrowly if it were trying to regulate the insurance activities of persons that are clearly subject to its enforcement authority.

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Originally Posted at Think Advisor on January 18, 2024 by Allison Bell.