280 
1813)) shall not constitute a waiver of, or otherwise 
affect, any privilege or other form of legal protection 
or exemption from public disclosure to which such 
information or material is otherwise subject. 
(b) PRIVACY.—The Gramm-Leach-Bliley Act (Public 
Law 106–102; 113 Stat. 1338) is amended— 
(1) in section 504(a)(1), by inserting ‘‘the Com-
missioner of National Insurance,’’ after ‘‘Federal 
banking agencies,’’; 
(2) in section 504(a)(3), by inserting ‘‘, except 
that, in the case of the Commissioner of National 
Insurance, such regulations shall be issued in final 
form not later than 12 months after the date of en-
actment of the National Insurance Act of 2006’’ 
after ‘‘enactment of this Act’’; 
(3) in section 505(a)(6), by inserting ‘‘(other 
than a person subject to the jurisdiction of the Of-
fice of National Insurance under paragraph (8))’’ 
after ‘‘providing insurance’’; 
(4) in section 505(a)— 
(A) by redesignating paragraph (7) as 
paragraph (8); and 
(B) by inserting after paragraph (6) the 
following: 
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281 
‘‘(7) Under subtitle C of title I of the National 
Insurance Act of 2006, by the Commissioner of Na-
tional Insurance with respect to any National In-
surer or National Agency, any subsidiaries of such 
an entity (except any financial institution or other 
person subject to the jurisdiction of any agency or 
authority under paragraphs (1) through (6)), and 
any federally licensed insurance producer.’’; 
(5) in section 505(a)(8), as redesignated by 
paragraph (4) of this section, by striking ‘‘through 
(6)’’ and inserting ‘‘through (7)’’; 
(6) in section 505(b)(2), by striking ‘‘and (7)’’ 
and inserting ‘‘(7), and (8)’’; 
(7) in section 509(2)— 
(A) by redesignating subparagraphs (E) 
and (F) as subparagraphs (F) and (G), respec-
tively; and 
(B) by inserting after subparagraph (D) 
the following: 
‘‘(E) the Commissioner of National Insur-
ance;’’; 
(8) in section 521(e), by inserting ‘‘or Federal’’ 
after ‘‘such institution under State’’; 
(9) in section 522(b)(1)— 
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282 
(A) in subparagraph (A)(iv), by striking 
‘‘and’’ after the semicolon; 
(B) in subparagraph (B), by striking the 
period at the end and inserting ‘‘; and’’; and 
(C) by inserting after subparagraph (B) 
the following: 
‘‘(C) subtitle C of title I of the National 
Insurance Act of 2006, by the Commissioner of 
National Insurance with respect to any Na-
tional Insurer or National Agency and any fed-
erally licensed insurance producer.’’; and 
(10) in section 525, by inserting ‘‘the Commis-
sioner of National Insurance,’’ after ‘‘National Cred-
it Union Administration,’’. 
(c) 
OTHER
CONFORMING
AMENDMENTS.—The 
Gramm-Leach-Bliley Act (Public Law 106–102; 113 Stat. 
1338) is amended— 
(1) in section 104(b), by inserting ‘‘, or as re-
quired by the Commissioner of National Insurance 
in accordance with the National Insurance Act of 
2006’’ after ‘‘subject to subsections (c), (d), and 
(e)’’; 
(2) in section 104(f)— 
(A) by striking ‘‘Subsections (c) and (d)’’ 
and inserting the following: 
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283 
‘‘(1) IN GENERAL.—Subsections (c) and (d)’’; 
(B) by striking ‘‘(1) the jurisdiction’’ and 
inserting the following: ‘‘(A) the jurisdiction’’; 
(C) by striking ‘‘(A) to investigate’’ and in-
serting the following: ‘‘(i) to investigate’’; 
(D) by striking ‘‘(B) to require’’ and in-
serting the following: ‘‘(ii) to require’’; 
(E) by striking ‘‘(2) State laws’’ and in-
serting the following: ‘‘(B) State laws’’; and 
(F) by adding at the end the following: 
‘‘(2) OTHER.—Notwithstanding any provision 
of subsection (d), paragraphs (2) and (3) of sub-
section (d) and subsection (e) shall not apply to any 
person to the extent that such person is engaged in 
the business of insurance or other insurance oper-
ations pursuant to authority provided under the Na-
tional Insurance Act of 2006.’’; 
(3) in section 104(g)(4), by striking ‘‘business 
of insurance.’’ and inserting ‘‘business of insurance, 
but only to the extent that such person is doing so 
pursuant to a license issued under the authority of 
State law.’’; 
(4) in section 112, by inserting in the heading 
‘‘COMMISSIONER
OF
NATIONAL
INSURANCE’’ 
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284 
after ‘‘AUTHORITY OF STATE INSURANCE REGU-
LATOR’’; 
(5) in section 301, by inserting ‘‘, except that 
the insurance activities of a National Insurer, Na-
tional Agency, and a federally licensed insurance 
producer shall be functionally regulated by the Of-
fice of National Insurance’’ after ‘‘subject to section 
104’’; and 
(6) in section 311, by inserting at the end the 
following: ‘‘This subtitle shall not apply to a Na-
tional Insurer in mutual form that is reorganizing 
into a mutual holding company.’’. 
SEC. 711. AMENDMENTS TO THE FEDERAL DEPOSIT INSUR-
ANCE ACT. 
The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.) is amended— 
(1) in section 45, by inserting in the heading ‘‘, 
COMMISSIONER OF OFFICE OF NATIONAL IN-
SURANCE,’’ after ‘‘STATE
INSURANCE
REGU-
LATOR’’; and 
(2) in section 47(g)(1)— 
(A) in subparagraph (A), by striking ‘‘or’’ 
after the semicolon; 
(B) in subparagraph (B), by striking the 
period at the end and inserting ‘‘; or’’; and 
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285 
(C) by adding at the end the following: 
‘‘(C) any authority of the Commissioner of 
National Insurance under the National Insur-
ance Act of 2006.’’. 
SEC. 712. AMENDMENTS TO THE BANK HOLDING COMPANY 
ACT OF 1956. 
The Bank Holding Company Act of 1956 (12 U.S.C. 
1841 et seq.) is amended— 
(1) in section 4(k)(4)(I)(iii), by inserting ‘‘or 
Federal’’ after ‘‘relevant State’’; 
(2) in section 5(c)(2)(E)(iii), by inserting ‘‘or 
by or on behalf of the Commissioner of National In-
surance’’ after ‘‘for the supervision of insurance 
companies’’; 
(3) in section 5(c)(3)(A)(ii)(I), by inserting ‘‘or 
the Office of National Insurance’’ after ‘‘Securities 
and Exchange Commission’’; 
(4) in section 5(c)(4)(B), by inserting ‘‘or the 
Commissioner of National Insurance’’ after ‘‘a State 
insurance authority’’; 
(5) in section 5(c)(5)(B)(iv), by inserting ‘‘or by 
the Commissioner of National Insurance’’ after 
‘‘State insurance regulator’’; 
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286 
(6) in section 5(g), by inserting in the heading 
‘‘, COMMISSIONER OF NATIONAL INSURANCE’’ after 
‘‘STATE INSURANCE REGULATOR’’; 
(7) in section 5(g)(1)(B), by inserting ‘‘or the 
Commissioner of National Insurance’’ after ‘‘State 
insurance authority’’; 
(8) in section 5(g)(2)— 
(A) in the heading, by inserting ‘‘, COM-
MISSIONER
OF
NATIONAL
INSURANCE,’’ after 
‘‘STATE INSURANCE AUTHORITY’’; and 
(B) by inserting ‘‘or the Commissioner of 
National Insurance’’ after ‘‘the Board shall 
promptly notify the State insurance authority’’; 
and 
(9) in section 5(g)(3), by inserting ‘‘, the Com-
missioner of National Insurance,’’ after ‘‘If the 
Board receives a notice described in paragraph 
(1)(B) from a State insurance authority’’. 
SEC. 713. AMENDMENTS TO TITLE 18 (CRIMES AND CRIMI-
NAL PROCEDURE). 
(a) AMENDMENTS
TO 18 U.S.C. 1033.—Section 
1033(b) of title 18, United States Code, is amended— 
(1) in paragraph (1)— 
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287 
(A) by inserting ‘‘removes, conceals, alters, 
destroys,’’ after ‘‘willfully embezzles, abstracts, 
purloins,’’; and 
(B) by inserting ‘‘assets,’’ after ‘‘moneys, 
funds, premiums, credits,’’; and 
(2) in paragraph (2)— 
(A) in the first sentence, by inserting ‘‘re-
moval, concealment, alteration, destruction,’’ 
after ‘‘embezzlement, abstraction, purloining,’’; 
and 
(B) in the second sentence, by inserting 
‘‘removed, concealed, altered, destroyed,’’ after 
‘‘embezzled, abstracted, purloined,’’. 
(b) ADDITION OF A NEW SECTION 1037A.—Title 18, 
United States Code, is amended by inserting after section 
1037 the following: 
‘‘§ 1037A. Insurance fraud 
‘‘(a) Whoever commits a fraudulent insurance act or 
whoever knowingly and intentionally interferes with the 
enforcement of the provisions of subtitle D of title I of 
the National Insurance Act of 2006 or investigations of 
suspected or actual violations of this section shall be pun-
ished as provided in subsection (b). 
‘‘(b)(1) Except as provided in paragraph (2), the 
punishment for an offense under subsection (a) is a fine 
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288 
as provided under this title or imprisonment for not more 
than 10 years, or both. 
‘‘(2) Where the person committing an offense under 
subsection (a) is a National Insurer, National Agency, in-
surer-affiliated party, or a federally licensed insurance 
producer, punishment for an offense under subsection (a) 
shall be a fine, the maximum of which is the greater of— 
‘‘(A) $1,000,000 per violation; or 
‘‘(B) a fine as provided under this title; or im-
prisonment for not more than 10 years, or both. 
‘‘(3) If the fraudulent insurance act involved an 
amount or value not exceeding $5,000, whoever violates 
subsection (a) shall be fined as provided in this title or 
imprisoned not more than 1 year, or both. 
‘‘(4) The punishment in this subsection shall be in 
addition to any other penalties under the National Insur-
ance Act of 2006. 
‘‘(c)(1) Any individual who has been convicted of any 
criminal felony involving dishonesty or breach of trust, 
and who participates in the business of insurance, shall 
be fined as provided in this title or imprisoned not more 
than 5 years, or both. 
‘‘(2) Any insurance person who is engaged in the 
business of insurance who knowingly and intentionally 
permits the participation described in paragraph (1) shall 
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289 
be fined as provided in this title or imprisoned not more 
than 5 years, or both. 
‘‘(3) A person described in paragraph (1) or (2) may 
participate in the business of insurance or permit such 
participation, as the case may be, if such person has the 
written consent of the Commissioner of National Insur-
ance. 
‘‘(d) In this section— 
‘‘(1) the terms ‘Commissioner,’ ‘insurance pol-
icy,’ ‘insurance producer,’ ‘insurer-affiliated party,’ 
‘National Agency,’ ‘National Insurer,’ ‘person,’ and 
‘policy of insurance’ have the meanings given to the 
terms in section 3 of the National Insurance Act of 
2006; 
‘‘(2) the term ‘business of insurance’ has the 
meaning given to the term in section 1033(f)(1); 
‘‘(3) the term ‘fraudulent insurance act’ means 
an act or omission committed by a person who, 
knowingly and with intent to defraud, commits or 
conceals any material information concerning, 1 or 
more of the following— 
‘‘(A) presenting, causing to be presented or 
preparing with knowledge or belief that it will 
be presented to or by a National Insurer, Na-
tional Agency, or an insurance producer acting 
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290 
with respect to a policy of insurance written by 
a National Insurer, false information as part of, 
in support of or concerning a fact material to 
1 or more of the following— 
‘‘(i) an application for a new or re-
newal of an insurance policy or reinsurance 
contract; 
‘‘(ii) the rating of a National Insurer 
that writes an insurance policy or enters 
into a reinsurance contract; 
‘‘(iii) a claim for payment or benefit 
pursuant to an insurance policy or reinsur-
ance contract; 
‘‘(iv) premiums paid on an insurance 
policy or reinsurance contract; 
‘‘(v) payments made in accordance 
with the terms of an insurance policy or 
reinsurance contract; 
‘‘(vi) a document filed with the Com-
missioner; 
‘‘(vii) the financial condition of a Na-
tional Insurer; 
‘‘(viii) 
the 
formation, 
acquisition, 
merger, consolidation, dissolution, or with-
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291 
drawal from 1 or more lines of insurance 
or reinsurance by a National Insurer; 
‘‘(ix) the issuance of evidence of in-
surance, whether in writing, electronic 
form or otherwise; or 
‘‘(x) the reinstatement of an insurance 
policy; 
‘‘(B) solicitation or acceptance of new or 
renewal insurance risks on behalf of a National 
Insurer, National Agency, or other persons en-
gaged in the business of insurance by a person 
who knows or should know that the National 
Insurer or other person responsible for the risk 
is insolvent at the time of the transaction; 
‘‘(C) removal, concealment, alteration, or 
destruction of the records of a National In-
surer, National Agency, or other person en-
gaged in the business of insurance; 
‘‘(D) transaction of the business of insur-
ance in violation of laws requiring a license 
therefore under the National Insurance Act of 
2006; or 
‘‘(E) attempting to commit, aiding or abet-
ting in the commission of, or conspiracy to com-
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292 
mit the acts or omissions specified in, this para-
graph; and 
‘‘(4) the term ‘insurance person’ means officers, 
directors, agents, or employees of National Insurers 
or National Agencies, or other persons authorized to 
act on behalf of National Insurers or National Agen-
cies.’’. 
SEC. 714. AMENDMENTS TO AMERICANS WITH DISABIL-
ITIES ACT OF 1990. 
Section 501(c) of the Americans with Disabilities Act 
of 1990 (42 U.S.C. 12201(c)) is amended— 
(1) in paragraph (1), by inserting ‘‘or Federal’’ 
after ‘‘based on or not inconsistent with State’’; 
(2) in paragraph (2), by inserting ‘‘or Federal’’ 
after ‘‘based on or not inconsistent with State’’; and 
(3) in paragraph (3), by inserting ‘‘or Federal’’ 
after ‘‘subject to State’’. 
SEC. 715. AMENDMENT TO AGE DISCRIMINATION IN EM-
PLOYMENT ACT. 
Section 12(c)(2) of the Age Discrimination in Em-
ployment Act of 1967 (29 U.S.C. 631(c)(2)) is amended 
by inserting ‘‘and the Commissioner of National Insur-
ance’’ after ‘‘after consultation with the Secretary of the 
Treasury’’. 
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293 
SEC. 716. AMENDMENTS TO THE FAIR CREDIT REPORTING 
ACT. 
Section 621 of the Fair Credit Reporting Act (15 
U.S.C. 1681s) is amended— 
(1) in subsection (b)— 
(A) in paragraph (5), by striking ‘‘and’’ 
after the semicolon; 
(B) in paragraph (6), by striking the pe-
riod at the end and inserting ‘‘; and’’; and 
(C) by inserting after paragraph (6) the 
following: 
‘‘(7) subtitle C of title I of the National Insur-
ance Act of 2006, by the Commissioner of National 
Insurance with respect to any National Insurer, Na-
tional Agency, and any federally licensed insurance 
producer.’’; and 
(D) by adding after the flush matter at the 
end the following: ‘‘The terms used in para-
graph (7) that are not defined in this Act shall 
have the meaning given to them in section 3 of 
the National Insurance Act of 2006.’’; and 
(2) in subsection (e), by adding at the end the 
following: 
‘‘(3) The Commissioner of National Insurance 
shall prescribe such regulations as necessary to carry 
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294 
out the purpose of this Act with respect to any per-
sons identified under subsection (b)(7).’’. 
Æ 
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