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State Insurance Commissioners Gain Voting Power on Financial Stability Council

This act changes how the Financial Stability Oversight Council operates by adding a permanent member from the insurance sector. This aims to better incorporate the perspective of state insurance regulators into decisions concerning the nation's financial stability, which could indirectly impact the security and stability of the insurance market used by citizens.
Key points
A state insurance commissioner becomes a full voting member of the Financial Stability Oversight Council.
The President will appoint this member, considering recommendations from state insurance commissioners.
The change aims to better represent the interests of the insurance market in decisions regarding overall financial stability.
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Status:
Expired
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Additional Information
Print number: 117_S_4110
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2022-04-28
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 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_4110.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2022-04-28.

What are the main provisions?

Key points include:

  • A state insurance commissioner becomes a full voting member of the Financial Stability Oversight Council.
  • The President will appoint this member, considering recommendations from state insurance commissioners.
  • The change aims to better represent the interests of the insurance market in decisions regarding overall financial stability.
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 Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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