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HR 643119th CongressIn Committee
Federal Insurance Office Elimination Act
Introduced: Jan 23, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Federal Insurance Office Elimination Act abolishes the Federal Insurance Office and its director, removes the office’s statutory references, and preserves Treasury authority over insurance matters. It also amends Dodd‑Frank and the Economic Growth, Regulatory Relief, and Consumer Protection Act to eliminate references to the office, ensuring continuity of regulatory oversight.
Key Points
- 1Eliminates the Federal Insurance Office and its director.
- 2Strikes Section 313 of Title 31 U.S.C. and related table entries.
- 3Preserves Treasury authority over insurance matters.
- 4Amends Dodd‑Frank provisions to remove references to the office.
- 5Adjusts the Economic Growth Act to exclude the office from listed authorities.
Impact Areas
U.S. Department of the Treasury and its regulatory functions.Federal insurance regulatory agencies.Financial institutions subject to Dodd‑Frank oversight.Congressional oversight committees.Stakeholders in federal insurance policy.
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