Bill · H.R. 3354· House(119-HR-3354)
Primary Regulators of Insurance Vote Act of 2025
- Introduced
- 5/13/2025
- Last activity
- 5/13/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Barry Loudermilk
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Primary Regulators of Insurance Vote Act of 2025," seeks to amend the Financial Stability Act of 2010. The primary goal is to include a State insurance commissioner as a voting member of the Financial Stability Oversight Council. The President would appoint this member with the advice and consent of the Senate. The bill also outlines a specific process for requesting candidate lists from the National Association of Insurance Commissioners. Additionally, it establishes rules for filling vacancies within the Council. Finally, it includes various technical and clarifying amendments to the existing Act.
Yes
Federalism And Division Of Powers+3
The bill enhances state-level influence by integrating a State insurance commissioner into a federal oversight council.
Is this likely to grow the economy?+2
The inclusion of a State insurance commissioner on the Financial Stability Oversight Council may improve financial stability oversight and economic growth.
Would business owners be better off under this?+1
Increased regulatory input from state insurance commissioners may provide more nuanced oversight for insurance-related businesses.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Representation in Financial Oversight: By adding a State insurance commissioner as a voting member of the Financial stability Oversight Council, the bill allows for insurance-specific regulatory input within the Council (Section 2).
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Structured Selection Process: The bill requires the President to request a list of recommended candidates from the States through the National Association of Insurance Commissioners before making an appointment, which provides a formal mechanism for state-level input (Section 2).
Potential Negative Impacts for People
-
Limited Input if Timelines are Not Met: If the National Association of Insurance Commissioners fails to submit a list of recommended candidates within 15 business days, the President may appoint a member without considering the views of the association (Section 2).
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Specific Vacancy Procedures: In the event of a vacancy, a State insurance commissioner may serve as a nonvoting member until a successor is appointed and confirmed through a process determined by the State insurance commissioners (Section 2).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Federalism And Division Of Powers+3
- Economy And Finance
- Improves Economic Growth+2
- Demographic And Interest Groups
- Good For Business Owners+1
- 5/13/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
John GaramendiDemocrat · California