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Eliminating Federal Insurance Office: What It Means

This bill aims to eliminate the Federal Insurance Office (FIO) within the U.S. Department of the Treasury. This means FIO's previous tasks, such as monitoring the insurance market and advising on international matters, will either be transferred or cease to exist. For citizens, this could mean changes in how the insurance market is overseen, though a direct impact on individual policies is unlikely.
Key points
The Federal Insurance Office (FIO) and its Director position will be eliminated.
These changes will affect how the U.S. government oversees and coordinates insurance matters, shifting some authorities back to the Secretary of the Treasury.
The bill removes FIO from various regulations, including the Dodd-Frank Act, simplifying the financial sector's regulatory structure.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_643
Sponsor: Rep. Downing, Troy [R-MT-2]
Process start date: 2025-01-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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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 119_HR_643.

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 2025-01-23.

What are the main provisions?

Key points include:

  • The Federal Insurance Office (FIO) and its Director position will be eliminated.
  • These changes will affect how the U.S. government oversees and coordinates insurance matters, shifting some authorities back to the Secretary of the Treasury.
  • The bill removes FIO from various regulations, including the Dodd-Frank Act, simplifying the financial sector's regulatory structure.
What is the specific legal status?

The current status is Introduced.

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. Downing, Troy [R-MT-2].

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 2025-12-23.

CATEGORIES

Economy