Bills · HR 3354
IN COMMITTEE· 119TH CONGRESS
House BillHR 3354Finance and Financial Sector
Primary Regulators of Insurance Vote Act of 2025
INTRO MAY 13· LAST ACTION MAY 13
READING
4MIN
COSPONSORS
1
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because the Financial Stability Oversight Council (FSOC) was created after the 2008 financial crisis to prevent similar events by monitoring major risks to the economy. Its decisions can have a wide-reaching impact on how financial institutions, including large insurance companies, are overseen.
By adding a voting State insurance commissioner, the bill ensures that the unique perspective of state-level insurance regulation is directly considered in federal discussions about systemic financial risks. This could lead to a more comprehensive understanding of the insurance sector's role in overall financial stability and potentially better-tailored policies to address those risks. If the bill doesn't pass, the State insurance commissioner would remain a non-voting member, continuing to offer input but without a direct say in final council decisions, potentially leaving a gap in direct state regulatory representation on critical financial stability matters.
KEY PROVISIONS
5AI-extractedPROVISION 01
Adds a State insurance commissioner as a voting member to the Financial Stability Oversight Council (FSOC).
This ensures that state-level insurance expertise has a direct vote in federal decisions regarding financial stability.
PROVISION 02
Removes the existing non-voting State insurance commissioner position from the FSOC.
This consolidates the representation of state insurance regulators into a single, more influential voting seat.
PROVISION 03
Establishes a 4-year term for the new voting State insurance commissioner.
This provides a consistent term length, offering stability and experience to the council's deliberations.
PROVISION 04
Outlines an appointment process where the President requests candidates from the National Association of Insurance Commissioners (NAIC) for the new voting member, with Senate confirmation required.
This balances federal appointment authority with input from state regulators, while ensuring Senate oversight.
PROVISION 05
Specifies that the Federal Vacancy Reform Act does not apply to this new position and outlines a process for temporary filling of vacancies by a designated non-voting State insurance commissioner.
This creates a specific mechanism to ensure continuous, though potentially temporary, state insurance representation on the council during a vacancy.
SPONSORSHIP
1 + 1
R· Georgia
YRS IN OFFICE
11
BILLS LED
17
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 1 REP 0 IND 0
ACTION TIMELINE
2 EVENTSMAY 13
Introduced in House
MAY 13
Referred to the House Committee on Financial Services.
BILL INFO
TypeHouse Bill
NumberHR 3354
Congress119th
StatusIn Committee
IntroducedMay 13, 2025
Last actionMay 13, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED MAY 13, 2025
House BillHR 3354Finance and Financial Sector
Primary Regulators of Insurance Vote Act of 2025
INTRODUCED MAY 13, 2025· LAST ACTION MAY 13, 2025
PASSAGE CHANCES
—%
READING
4 min
COSPONSORS
1
COMPLEXITY
Moderate
