UPDATE: H.R.3861 – Federal Insurance Office Reform Act of 2017

LATEST ACTION: November 2, 2018 - Placed on the Union Calendar, Calendar No. 789.

BILL TITLE: Federal Insurance Office Reform Act of 2017

BILL SUMMARY:

Federal Insurance Office Reform Act of 2017

This bill amends the Federal Insurance Office Act of 2010 to modify the Department of the Treasury's Federal Insurance Office (FIO).

FIO is moved to Treasury's Office of International Affairs.

FIO's function of advising Treasury on domestic insurance issues is eliminated.

The bill removes FIO from the Financial Stability Oversight Council.

FIO's subpoena and enforcement powers regarding information gathering are terminated.

The number of personnel employed by FIO is limited to five.

[NOTE: The contents of this legislative update are current as of 06:00 AM on November 5, 2018.]

BILL NUMBER: 115th Congress: House Bill 3861 (H.R.3861)

CHAMBER OF ORIGIN: U.S. House of Representatives

CURRENT CHAMBER: U.S. House of Representatives

For DETAILED LEGISLATIVE INFORMATION on H.R.3861, visit: https://www.congress.gov/bill/115th-congress/house-bill/3861

BILL TEXT: https://www.congress.gov/bill/115th-congress/house-bill/3861/text

ACTIONS-TO-DATE (ordered by most recent first):

11/02/2018 -- House -- Placed on the Union Calendar, Calendar No. 789.

11/02/2018 -- House -- Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1008.

06/07/2018 -- House -- Ordered to be Reported (Amended) by the Yeas and Nays: 36 - 21.

06/07/2018 -- House -- Committee Consideration and Mark-up Session Held.

09/28/2017 -- House -- Referred to the House Committee on Financial Services.

09/28/2017 -- House -- Introduced in House.

SPONSOR(S)*:

-- Rep. Duffy, Sean P. [R-WI-7]

CO-SPONSOR(S)*:

[*Note: Sponsors and co-sponsors are current as of November 2, 2018. For the most up-to-date version of the sponsor and co-sponsor lists, visit: https://www.congress.gov/bill/115th-congress/house-bill/3861/cosponsors ]

-- Rep. Heck, Denny [D-WA-10]

-- Rep. Poliquin, Bruce [R-ME-2]

-- Rep. Budd, Ted [R-NC-13]

-- Rep. Tenney, Claudia [R-NY-22]

-- Rep. Rothfus, Keith J. [R-PA-12]

-- Rep. Zeldin, Lee M. [R-NY-1]

-- Rep. Williams, Roger [R-TX-25]

-- Rep. Hultgren, Randy [R-IL-14]

-- Rep. Ross, Dennis A. [R-FL-15]

-- Rep. Emmer, Tom [R-MN-6]

-- Rep. Graves, Sam [R-MO-6]

-- Rep. Walberg, Tim [R-MI-7]

-- Rep. Moolenaar, John R. [R-MI-4]

-- Rep. Cuellar, Henry [D-TX-28]

-- Rep. Latta, Robert E. [R-OH-5]

-- Rep. Renacci, James B. [R-OH-16]

-- Rep. Young, David [R-IA-3]

-- Rep. Barletta, Lou [R-PA-11]

-- Rep. Smucker, Lloyd [R-PA-16]

-- Rep. Noem, Kristi L. [R-SD-At Large]

-- Rep. Brat, Dave [R-VA-7]

COMMITTEES: House Financial Services Committee.

SUBJECTS: Department of the Treasury, Executive agency funding and structure, Government employee pay, benefits, personnel management, Government studies and investigations, Insurance industry and regulation.