H.R.6423 - Insurance Consumer Protection and Solvency Act of 2012

To exclude insurance companies from the Federal Depository Insurance Corporation's "orderly liquidation authority". view all titles (2)

All Bill Titles

  • Short: Insurance Consumer Protection and Solvency Act of 2012 as introduced.
  • Official: To exclude insurance companies from the Federal Depository Insurance Corporation's "orderly liquidation authority". as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
09/14/12
 
 
 
 
 
 
 

Official Summary

Insurance Consumer Protection and Solvency Act of 2012 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude an insurance company from the definition of a \"financial company\" for purposes of such Act (thus removing an insurance company from the purview of the A

Official Summary

Insurance Consumer Protection and Solvency Act of 2012 - Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act to exclude an insurance company from the definition of a \"financial company\" for purposes of such Act (thus removing an insurance company from the purview of the Act). Removes from the Federal Deposit Insurance Corporation (FDIC) the authority to place insurance companies into orderly liquidation. Excludes from the definition of \"eligible financial company\" for purposes of risk-based assessments an insurance company subject to assessment under state law to cover the costs of state insolvency proceeding regarding an insurance company.

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Organizations Supporting H.R.6423

  • National Association of Mutual Insurance Companies
  • Christian Coalition of America

Organizations Opposing H.R.6423

  • None via MapLight at this time.




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