H.R. 7000, titled the "Business of Insurance Regulatory Reform Act of 2024," seeks to amend the Consumer Financial Protection Act of 2010. The bill aims to clarify the limits of the Bureau of Consumer Financial Protection's authority over individuals regulated by state...
Simple Explanation
The Business of Insurance Regulatory Reform Act of 2024 is a rule that says when it comes to money laws, the people who watch over insurance in each state are more in charge than the big boss in Washington, D.C., that usually keeps an eye on money matters.