IB 
Union Calendar No. 787 
118TH CONGRESS 
2D SESSION 
H. R. 5535 
[Report No. 118–759, Part I] 
To prohibit the Federal Insurance Office of the Department of the Treasury 
and other financial regulators from collecting data directly from an 
insurance company. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 18, 2023 
Mr. FITZGERALD (for himself, Mr. FLOOD, and Mr. LUETKEMEYER) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services, and in addition to the Committee on Agriculture, for a pe-
riod to be subsequently determined by the Speaker, in each case for con-
sideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
NOVEMBER 21, 2024 
Reported from the Committee on Financial Services with an amendment 
[Strike out all after the enacting clause and insert the part printed in italic] 
NOVEMBER 21, 2024 
Referral to the Committee on Agriculture extended for a period ending not 
later than December 19, 2024 
DECEMBER 19, 2024 
Additional sponsors: Mr. DONALDS, Mr. MOORE of Alabama, Mr. ROGERS of 
Alabama, Ms. DE LA CRUZ, Mr. CARL, Mr. STRONG, Mr. STEIL, Mr. 
GARBARINO, Mr. LAHOOD, Mr. LAWLER, Ms. HAGEMAN, Mr. ISSA, Mr. 
BARR, Mr. TIMMONS, Mr. STAUBER, Mr. NORMAN, Mr. GROTHMAN, Mr. 
WILLIAMS of Texas, Mr. NUNN of Iowa, Mr. HUIZENGA, Mr. MEUSER, 
Mr. ROSE, Mr. SESSIONS, Mr. LOUDERMILK, Mr. MOOLENAAR, Mrs. 
HOUCHIN, Mr. EMMER and Mr. LANGWORTHY 
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DECEMBER 19, 2024 
Committee on Agriculture discharged; committed to the Committee of the 
Whole House on the State of the Union and ordered to be printed 
[For text of introduced bill, see copy of bill as introduced on September 18, 2023] 
A BILL 
To prohibit the Federal Insurance Office of the Department 
of the Treasury and other financial regulators from col-
lecting data directly from an insurance company. 
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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 ‘‘Insurance Data Protec-
tion Act’’. 
SEC. 2. REPEAL OF SUBPOENA AND ENFORCEMENT AU-
THORITY. 
Subsection (e) of section 313 of title 31, United States 
Code, is amended by striking paragraph (6). 
SEC. 3. CONFIDENTIALITY BY FEDERAL INSURANCE OF-
FICE. 
Section 313(e) of title 31, United States Code, is 
amended in paragraph (5)— 
(1) in subparagraph (A), by inserting after ‘‘Of-
fice’’ the following: ‘‘and the sharing of any nonpub-
licly available data with or by the Office among other 
Federal agencies, the State insurance regulators and 
their collective agents, or any other entities’’; 
(2) in subparagraph (C)(ii), by inserting ‘‘any 
privilege referred to in subparagraph (A) and’’ after 
‘‘including’’; and 
(3) in subparagraph (D), by inserting ‘‘includ-
ing the exceptions thereunder,’’ after ‘‘United States 
Code,’’. 
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SEC. 4. LIMITATION ON SUBPOENAS BY THE OFFICE OF FI-
NANCIAL RESEARCH. 
Section 153(f)(1) of the Dodd-Frank Wall Street Re-
form and Consumer Protection Act is amended by inserting 
after ‘‘financial company,’’ the following: ‘‘other than an 
insurance company (as defined under section 201(a)(13)),’’. 
SEC. 5. CONFIDENTIALITY BY FINANCIAL REGULATORS. 
(a) IN GENERAL.—Title I of the Financial Stability 
Act of 2010 (12 U.S.C. 5343(f)(1)) is amended by inserting 
at the end the following: 
‘‘Subtitle 
D—Treatment 
of 
Data 
Collected From Insurance Com-
panies 
‘‘SEC. 181. TREATMENT OF DATA COLLECTED FROM INSUR-
ANCE 
COMPANIES 
BY 
FINANCIAL 
REGU-
LATORS. 
‘‘(a) ADVANCE COORDINATION.—Before collecting any 
data or information from a nonbank financial company 
that is an insurance company pursuant to this title or title 
II, a financial regulator shall coordinate with each relevant 
Federal agency and State insurance regulator and any pub-
licly available sources to determine if the information to 
be collected is available from, and may be obtained in a 
timely manner by, such Federal agency or State insurance 
regulator, individually or collectively, other regulatory 
agency, or publicly available sources. If the financial regu-
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lator determines that such data or information is available, 
and may be obtained in a timely manner, from such an 
agency, regulator, regulatory agency, or source, the finan-
cial regulator shall obtain the data or information from 
such agency, regulator, regulatory agency, or source. If the 
financial regulator determines that such data or informa-
tion is not so available, the financial regulator may collect 
such data or information from an insurance company only 
if the financial regulator complies with the requirements 
of subchapter I of chapter 35 of title 44, United States Code 
(relating to Federal information policy; commonly known 
as the Paperwork Reduction Act), in collecting such data 
or information. Notwithstanding any other provision of 
law, each such relevant Federal agency and State insurance 
regulator or other Federal or State regulatory agency is au-
thorized to provide to the financial regulator such data or 
information. 
‘‘(b) CONFIDENTIALITY.— 
‘‘(1) RETENTION OF PRIVILEGE.—The sharing by 
a nonbank financial company that is an insurance 
company of any nonpublicly available data and in-
formation with a financial regulator under this title 
or title II shall not constitute a waiver of, or other-
wise affect, any privilege arising under Federal or 
State law (including the rules of any Federal or State 
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court) to which the data or information is otherwise 
subject. 
‘‘(2) CONTINUED APPLICATION OF PRIOR CON-
FIDENTIALITY AGREEMENTS.—Any requirement under 
Federal or State law to the extent otherwise applica-
ble, or any requirement pursuant to a written agree-
ment in effect between the original source of any non-
publicly available data or information and the source 
of such data or information to the financial regulator, 
regarding the privacy or confidentiality of any data 
or information in the possession of the source to a fi-
nancial regulator, shall continue to apply to such 
data or information after the data or information has 
been provided pursuant to this section to the financial 
regulator. 
‘‘(3) INFORMATION-SHARING AGREEMENT.—Any 
data or information obtained by a financial regulator 
may be made available to State insurance regulators, 
individually or collectively, through an information- 
sharing agreement that— 
‘‘(A) shall comply with applicable Federal 
law; and 
‘‘(B) shall not constitute a waiver of, or oth-
erwise affect, any privilege under Federal or 
State law (including any privilege described in 
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