I 

116TH CONGRESS 

1ST SESSION H. R. 1862 

To abolish the Federal Insurance Office of the Department of the Treasury, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 25, 2019 

Mr. MOONEY of West Virginia (for himself, Mr. BUDD, Mr. BIGGS, Mr. 

GAETZ, Mr. MEADOWS, Mrs. LESKO, Mr. BANKS, Mr. WILLIAMS, Mr. 

NORMAN, Mr. DUNCAN, and Mr. WALKER) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To abolish the Federal Insurance Office of the Department 

of the Treasury, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Federal Insurance Of5 fice Abolishment Act of 2019’’. 

6 SEC. 2. ABOLISHMENT OF FEDERAL INSURANCE OFFICE. 

7 (a) IN GENERAL.—The Federal Insurance Office of 

8 the Department of the Treasury, and the position of the 


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•HR 1862 IH

1 Director of the Federal Insurance Office, are hereby abol2 ished. 

3 (b) AMENDMENT.—Title 31, United States Code, is 

4 amended— 

5 (1) by striking section 313; and 

6 (2) in the table of sections for subchapter I of 

7 chapter 3, by striking the item relating to section 

8 313. 

9 (c) TREASURY AUTHORITY.—This section, and the 

10 amendment made by this section, may not be construed 

11 to repeal or otherwise limit any authority of the Secretary 

12 of the Treasury with respect to matters relating to insur13 ance. 

14 SEC. 3. RELATED AMENDMENTS. 

15 (a) DODD-FRANK WALL STREET REFORM AND CON16 SUMER PROTECTION ACT AMENDMENTS.—The Dodd17 Frank Wall Street Reform and Consumer Protection Act 

18 is amended— 

19 (1) in section 111(b)(2) (12 U.S.C. 

20 5321(b)(2))— 

21 (A) by striking subparagraph (B); and 

22 (B) by redesignating subparagraphs (C), 

23 (D), and (E) as subparagraphs (B), (C), and 

24 (D), respectively; 


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•HR 1862 IH

1 (2) in section 112(d)(2) (12 U.S.C. 

2 5322(d)(2)), by striking ‘‘any member agency, and 

3 the Federal Insurance Office,’’ and inserting ‘‘and 

4 any member agency’’; 

5 (3) in section 165(i) (12 U.S.C. 5365(i))— 

6 (A) in paragraph (1)(A), by striking ‘‘and 

7 the Federal Insurance Office’’ and inserting 

8 ‘‘and the Secretary of the Treasury’’; and 

9 (B) in paragraph (2)(C), by striking ‘‘and 

10 the Federal Insurance Office’’ and inserting 

11 ‘‘and the Secretary of the Treasury’’; and 

12 (4) in section 203(a)(1)(C)(12 U.S.C. 

13 5383(a)(1)(C)), by striking ‘‘the Director of the 

14 Federal Insurance Office and’’ and inserting ‘‘the 

15 Secretary of the Treasury and’’. 

16 (b) ECONOMIC GROWTH, REGULATORY RELIEF, AND

17 CONSUMER PROTECTION ACT AMENDMENTS.—Section 

18 211(a) of the Economic Growth, Regulatory Relief, and 

19 Consumer Protection Act (31 U.S.C. 313 note) is amend20 ed— 

21 (1) in paragraph (1), by striking ‘‘the Secretary 

22 of the Treasury, Board of Governors of the Federal 

23 Reserve System, and Director of the Federal Insur24 ance Office’’ and inserting the following: ‘‘the SecVerDate Sep 11 2014 05:16 Apr 05, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H1862.IH H1862

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•HR 1862 IH

1 retary of the Treasury and Board of Governors of 

2 the Federal Reserve System’’; and 

3 (2) in paragraph (2), by striking ‘‘the Secretary 

4 of the Treasury, the Board of Governors of the Fed5 eral Reserve System, and the Director of the Fed6 eral Insurance Office’’ each place it occurs and in7 serting the following: ‘‘the Secretary of the Treasury 

8 and the Board of Governors of the Federal Reserve 

9 System’’. 

Æ 


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