New bi-partisan legislation meant to keep the regulation of insurance companies with state regulators was introduced in the Senate on Jan. 16.
The Business of Insurance Regulatory Reform Act of 2024 from senators Tim Scott, R-S.C., and Joe Manchin, D-W.V., was referred to the U.S. Senate’s Committee on Banking, Housing, and Urban Affairs to make sure the Consumer Financial Protection Bureau (CFPB) “does not overstep their statutory authority.”
