Primary Regulators of Insurance Vote Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3354 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3354 To amend the Financial Stability Act of 2010 to include the State insurance commissioner as a voting member of the Financial Stability Oversight Council, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 13, 2025 Mr. Loudermilk (for himself and Mr. Garamendi) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Financial Stability Act of 2010 to include the State insurance commissioner as a voting member of the Financial Stability Oversight Council, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Primary Regulators of Insurance Vote Act of 2025''. SEC. 2. ESTABLISHMENT OF STATE INSURANCE COMMISSIONER AS A VOTING MEMBER OF THE FINANCIAL STABILITY OVERSIGHT COUNCIL. Section 111 of the Financial Stability Act of 2010 (12 U.S.C. 5321) is amended-- (1) in subsection (b)-- (A) in paragraph (1)-- (i) by redesignating subparagraph (J) as subparagraph (K); (ii) in subparagraph (I), by striking ``and'' at the end; and (iii) by inserting after subparagraph (I) the following new subparagraph: ``(J) a State insurance commissioner, appointed by the President, by and with the advice and consent of the Senate, as described in paragraph (4); and''; and (B) by adding at the end the following new paragraph: ``(4) State insurance commissioner.--Before making any appointments pursuant to paragraph (1)(J), the President shall request a list of recommended candidates from the States through the National Association of Insurance Commissioners. The President may appoint a member under