I 
117TH CONGRESS 
1ST SESSION H. R. 4866 
To eliminate the Federal Insurance Office of the Department of the Treasury, 
and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JULY 30, 2021 
Mr. CLINE (for himself and Mr. TIFFANY) introduced the following bill; which 
was referred to the Committee on Financial Services 
A BILL 
To eliminate the Federal Insurance Office of the Department 
of the Treasury, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Federal Insurance Of-
fice Elimination Act’’. 
SEC. 2. ELIMINATION OF FEDERAL INSURANCE OFFICE. 
(a) IN GENERAL.—The Federal Insurance Office of 
the Department of the Treasury, and the position of the 
Director of the Federal Insurance Office, are hereby elimi-
nated. 
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(b) AMENDMENT.—Title 31, United States Code, is 
amended— 
(1) by striking section 313; and 
(2) in the table of sections for subchapter I of 
chapter 3, by striking the item relating to section 
313. 
(c) TREASURY AUTHORITY.—This section, and the 
amendment made by this section, may not be construed 
to repeal or otherwise limit any authority of the Secretary 
of the Treasury with respect matters relating to insurance. 
SEC. 3. RELATED AMENDMENTS. 
(a) DODD-FRANK WALL STREET REFORM AND CON-
SUMER PROTECTION ACT AMENDMENTS.—The Dodd- 
Frank Wall Street Reform and Consumer Protection Act 
(12 U.S.C. 5301 et seq.) is amended— 
(1) 
in 
section 
111(b)(2) 
(12 
U.S.C. 
5321(b)(2))— 
(A) by striking subparagraph (B); and 
(B) by redesignating subparagraphs (C), 
(D), and (E) as subparagraphs (B), (C), and 
(D), respectively; 
(2) in section 112 (12 U.S.C. 5322)— 
(A) in subsection (a)(2)(A), by striking 
‘‘member agencies, other Federal and State fi-
nancial regulatory agencies, the Federal Insur-
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ance Office’’ and inserting the following: ‘‘mem-
ber agencies and other Federal and State finan-
cial regulatory agencies’’; and 
(B) in subsection (d)— 
(i) in paragraph (1), in the matter 
preceding subparagraph (A), by striking 
‘‘the Office of Financial Research, member 
agencies, and the Federal Insurance Of-
fice’’ and inserting ‘‘the Office of Financial 
Research and member agencies’’; and 
(ii) in paragraph (2), by striking ‘‘, 
any member agency, and the Federal In-
surance Office,’’ and inserting ‘‘and any 
member agency’’; 
(3) in section 165(i) (12 U.S.C. 5365(i))— 
(A) in paragraph (1)(A), by striking ‘‘and 
the Federal Insurance Office’’ and inserting 
‘‘and the Secretary of the Treasury’’; and 
(B) in paragraph (2)(C), in the matter 
preceding clause (i), by striking ‘‘and the Fed-
eral Insurance Office’’ and inserting ‘‘and the 
Secretary of the Treasury’’; and 
(4) 
in 
section 
203(a)(1)(C) 
(12 
U.S.C. 
5383(a)(1)(C))— 
(A) in the first sentence— 
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(i) by striking ‘‘the Director of the 
Federal Insurance Office and’’; and 
(ii) by striking ‘‘on their own initia-
tive’’ and inserting ‘‘on the initiative of the 
Board of Governors’’; and 
(B) in the second sentence, by striking 
‘‘and the affirmative approval of the Director of 
the Federal Insurance Office’’. 
(b) ECONOMIC GROWTH, REGULATORY RELIEF, AND 
CONSUMER PROTECTION ACT AMENDMENTS.—Section 
211(a) of the Economic Growth, Regulatory Relief, and 
Consumer Protection Act (31 U.S.C. 313 note) is amend-
ed— 
(1) in paragraph (1), by striking ‘‘the Secretary 
of the Treasury, Board of Governors of the Federal 
Reserve System, and Director of the Federal Insur-
ance Office’’ and inserting the following: ‘‘the Sec-
retary of the Treasury and the Board of Governors 
of the Federal Reserve System’’; and 
(2) in paragraph (2), by striking ‘‘the Secretary 
of the Treasury, the Board of Governors of the Fed-
eral Reserve System, and the Director of the Fed-
eral Insurance Office’’ each place that term occurs 
and inserting the following: ‘‘the Secretary of the 
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Treasury and the Board of Governors of the Federal 
Reserve System’’. 
Æ 
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