§6714 Expedited and equalized dispute resolution for Federal regulators

Summary

Allows a Federal or State insurance regulator to ask a U.S. Court of Appeals for a fast decision when they disagree about insurance rules or whether a State rule is overridden by federal law. The petition can go to the Court of Appeals for the federal circuit where the State is located or to the D.C. Circuit. The court must finish the case, including a final judgment, within 60 days of filing unless all parties agree to more time. A request to the Supreme Court must be filed as soon as possible after the appeals court decides. No petition can be filed later than the later of (1) 12 months after the first public notice of the final action or (2) 6 months after the action takes effect. The appeals court must decide the case on the merits, looking at both State and Federal law, the nature of the product or activity, and the history and purpose of its regulation, without favoring one side’s legal views over the other.