PRIA Logo™
HR643119th CongressWALLET

Federal Insurance Office Elimination Act

Sponsored By: Representative Downing, Troy [R-MT-2]

Introduced

Summary

Eliminates the Federal Insurance Office in the Department of the Treasury and ends its Director post. The bill shifts FIO's statutory references and many duties to the Secretary of the Treasury and other federal regulators, especially the Board of Governors of the Federal Reserve System.

Show full summary
  • Federal regulators: Several Dodd-Frank and related statutory references are amended so the Treasury Secretary and the Federal Reserve take on roles FIO once had. This consolidates insurance-related references into existing agencies.
  • The Office and its Director: The FIO and the Director position are removed from Title 31 of the U.S. Code, eliminating the office as a standalone entity in statute.
  • Insurers, state regulators, and stakeholders: Reporting, oversight, and coordination duties that mentioned FIO are reassigned to Treasury or member agencies, changing where industry and states will direct regulatory interactions. The reallocation is done using existing authorities and without creating separate new funding streams or programs.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Eliminate Federal Insurance Office and Duties

If enacted, the bill would remove the Federal Insurance Office inside the Treasury. It would end the Director of the Federal Insurance Office position. It would strike section 313 of Title 31 and delete its table entry. It would reassign many FIO references and duties to the Treasury Secretary, the Federal Reserve Board, the Office of Financial Research, and member agencies. The bill also says these edits do not limit the Treasury Secretary's insurance authority. If passed, this could change who coordinates insurance policy and how consumer protections are applied.

Sponsors & CoSponsors

Sponsor

Downing, Troy [R-MT-2]

MT • R

Cosponsors

  • Rep. Cline, Ben [R-VA-6]

    VA • R

    Sponsored 1/23/2025

  • Haridopolos

    FL • R

    Sponsored 1/23/2025

  • Norman

    SC • R

    Sponsored 1/23/2025

  • Rep. Ogles, Andrew [R-TN-5]

    TN • R

    Sponsored 1/23/2025

  • Loudermilk

    GA • R

    Sponsored 1/23/2025

  • Schmidt

    KS • R

    Sponsored 1/23/2025

  • Rep. Moore, Barry [R-AL-1]

    AL • R

    Sponsored 1/23/2025

  • Rep. Grothman, Glenn [R-WI-6]

    WI • R

    Sponsored 1/23/2025

  • Rep. Kennedy, Mike [R-UT-3]

    UT • R

    Sponsored 1/23/2025

  • Barr

    KY • R

    Sponsored 1/28/2025

  • Rep. Self, Keith [R-TX-3]

    TX • R

    Sponsored 1/28/2025

  • Rep. Weber, Randy K. Sr. [R-TX-14]

    TX • R

    Sponsored 1/28/2025

  • Rep. Taylor, David J. [R-OH-2]

    OH • R

    Sponsored 1/31/2025

  • Rep. Gill, Brandon [R-TX-26]

    TX • R

    Sponsored 2/4/2025

  • Moore (WV)

    WV • R

    Sponsored 2/12/2025

  • Davidson

    OH • R

    Sponsored 3/6/2025

  • Moore (NC)

    NC • R

    Sponsored 3/6/2025

  • Brecheen

    OK • R

    Sponsored 3/26/2025

  • Biggs (SC)

    SC • R

    Sponsored 4/9/2025

  • Rep. Patronis, Jimmy [R-FL-1]

    FL • R

    Sponsored 5/14/2025

  • Tiffany

    WI • R

    Sponsored 5/19/2025

  • Rep. Rogers, Mike D. [R-AL-3]

    AL • R

    Sponsored 5/20/2025

  • Messmer

    IN • R

    Sponsored 5/21/2025

  • McDowell

    NC • R

    Sponsored 10/6/2025

  • Rep. Yakym, Rudy [R-IN-2]

    IN • R

    Sponsored 10/10/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation