The Business of Insurance Regulatory Reform Act of 2025 limits the federal Consumer Financial Protection Bureau's (CFPB) authority over insurance companies and insurance-related businesses. Under current law, the CFPB can regulate financial products and services offered by insurance companies, but this bill would prevent the CFPB from enforcing federal consumer protection rules against people engaged in the business of insurance who are already regulated by state insurance authorities. The legislation essentially transfers regulatory control back to state insurance regulators for insurance-related activities, while allowing the CFPB narrower enforcement powers only in specific circumstances involving federal consumer laws. This bill affects insurance companies, insurance agents, and other insurance industry participants, as well as consumers who purchase insurance products. The bill contains no specific funding or timeline provisions and instead focuses on clarifying which government agencies have authority to regulate insurance businesses.
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