S. 2419 — Business of Insurance Regulatory Reform Act of 2025

This section limits the Consumer Financial Protection Bureau's (CFPB) enforcement authority under Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act with respect to persons regulated by a state insurance regulator when engaged in the business of insurance, as follows: (1) revises the heading of sec. 1027(f)(2) to "Exceptions" (from "Description of activities"), redesignates the existing text as subparagraph (A) "Authority," and adds subparagraph (B) "Limitation" prohibiting CFPB enforcement of Title X against such a person offering or providing a consumer financial product or service to the extent engaged in the business of insurance, and requiring CFPB enforcement authority for enumerated consumer laws or laws with authorities transferred under subtitles F or H to be narrowly construed to that extent; and (2) adds paragraph (4) "Rule of construction" requiring Title X enforcement to be broadly construed in favor of state insurance regulator authority over such persons. (Thus, the changes expand deference to state insurance regulation for state-regulated entities providing consumer financial products or services incidental to insurance activities.)