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Federal Insurance Office Elimination: Financial Oversight Changes

This bill proposes to eliminate the Federal Insurance Office, meaning insurance market oversight will primarily rest with other existing agencies. For citizens, this simplifies the oversight structure, but without direct changes to their insurance policies or rights.
Key points
Elimination of the Federal Insurance Office and its Director position.
Amendments to financial reform acts, removing references to the Insurance Office.
The authority of the Secretary of the Treasury regarding insurance matters remains unchanged.
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Status:
Expired
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Additional Information
Print number: 118_HR_2933
Sponsor: Rep. Cline, Ben [R-VA-6]
Process start date: 2023-04-27
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
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Federal Insurance Office Elimination Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_2933.

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 2023-04-27.

What are the main provisions?

Key points include:

  • Elimination of the Federal Insurance Office and its Director position.
  • Amendments to financial reform acts, removing references to the Insurance Office.
  • The authority of the Secretary of the Treasury regarding insurance matters remains unchanged.
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. Cline, Ben [R-VA-6].

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 2025-12-25.

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