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US HB643

Bill

Official Source

Status

Introduced

1/23/2025

Primary Sponsor

Troy Downing

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Eliminates the Federal Insurance Office (FIO) within the Department of the Treasury and abolishes the position of Director of the Federal Insurance Office
  • Strikes section 313 from Title 31 of the United States Code, which established the FIO
  • Preserves the Secretary of the Treasury's general authority over insurance-related matters despite the elimination of FIO
  • Removes references to FIO and its Director from the Dodd-Frank Wall Street Reform and Consumer Protection Act, transferring certain consultation and approval functions to the Secretary of the Treasury
  • Amends the Economic Growth, Regulatory Relief, and Consumer Protection Act to remove FIO Director references from provisions regarding international insurance negotiations

Legislative Description

Federal Insurance Office Elimination Act

Finance and financial sector

Last Action

Referred to the House Committee on Financial Services.

1/23/2025

Committee Referrals

Financial Services1/23/2025

Full Bill Text

No bill text available