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Insurance Regulators Gain Vote on Financial Stability Council

This act amends the composition of the Financial Stability Oversight Council by adding a state insurance commissioner as a voting member. This aims to better integrate the insurance sector's perspective into financial stability decisions, potentially impacting the security of insurance policies and market stability for citizens.
Key points
A state insurance commissioner will become a full voting member of the Financial Stability Oversight Council.
The President will appoint the insurance commissioner, considering recommendations from state insurance regulators.
The change aims to ensure the insurance sector's voice is heard in key national financial stability decisions.
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Status:
Expired
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Additional Information
Print number: 117_HR_3099
Sponsor: Rep. Garamendi, John [D-CA-3]
Process start date: 2021-05-11
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Primary Regulators of Insurance Vote Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_3099.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-05-11.

What are the main provisions?

Key points include:

  • A state insurance commissioner will become a full voting member of the Financial Stability Oversight Council.
  • The President will appoint the insurance commissioner, considering recommendations from state insurance regulators.
  • The change aims to ensure the insurance sector's voice is heard in key national financial stability decisions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garamendi, John [D-CA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy