I 
119TH CONGRESS 
1ST SESSION H. R. 3437 
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 
MAY 15, 2025 
Mr. FITZGERALD (for himself, Mr. FLOOD, Mr. MEUSER, Ms. DE LA CRUZ, 
Mr. TIMMONS, Mr. GARBARINO, Mr. OGLES, Mr. MOORE of North Caro-
lina, Mr. DONALDS, Mr. HUIZENGA, Mr. WILLIAMS of Texas, Mr. NOR-
MAN, Mr. NUNN of Iowa, Mr. LOUDERMILK, Mr. GROTHMAN, Ms. 
HAGEMAN, and Mr. MOOLENAAR) introduced the following bill; which was 
referred to the Committee on Financial Services, and in addition to the 
Committee on Agriculture, for a period to be subsequently determined by 
the Speaker, in each case for consideration of such provisions as fall with-
in the jurisdiction of the committee concerned 
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. 
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 Pro-
tection Act’’. 
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SEC. 2. REPEAL OF SUBPOENA AND ENFORCEMENT AU-
THORITY. 
Section 313(e) of title 31, United States Code, is 
amended by striking paragraph (6). 
SEC. 3. CONFIDENTIALITY BY FEDERAL INSURANCE OF-
FICE. 
Section 313(e)(5) of title 31, United States Code, is 
amended— 
(1) in subparagraph (A), by inserting after ‘‘Of-
fice’’ the following: ‘‘, or the sharing of any nonpub-
licly available data and information with or by the 
Office among any other Federal agency, any State 
insurance regulator (or any agent of such a regu-
lator), or any other entity,’’; 
(2) in subparagraph (C)(ii), by inserting ‘‘any 
privilege described in subparagraph (A) or’’ after 
‘‘including’’; and 
(3) in subparagraph (D), by inserting ‘‘includ-
ing the exceptions under that section,’’ after ‘‘United 
States Code,’’. 
SEC. 4. LIMITATION ON SUBPOENAS BY THE OFFICE OF FI-
NANCIAL RESEARCH. 
Section 153(f)(1) of the Financial Stability Act of 
2010 (12 U.S.C. 5343(f)(1)) is amended, in the matter 
preceding subparagraph (A), by inserting after ‘‘financial 
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company’’ the following: ‘‘(other than an insurance com-
pany, as defined in section 201(a))’’. 
SEC. 5. CONFIDENTIALITY BY FINANCIAL REGULATORS. 
(a) IN GENERAL.—The Financial Stability Act of 
2010 (12 U.S.C. 5311 et seq.) is amended by adding 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) DEFINITIONS.—In this section: 
‘‘(1) COVERED ENTITY.—The term ‘covered en-
tity’ means a nonbank financial company that is an 
insurance company. 
‘‘(2) FINANCIAL
REGULATOR.—The term ‘fi-
nancial regulator’ means the Commission, the Com-
modity Futures Trading Commission, the Council, 
the Federal banking agencies, and the Office of Fi-
nancial Research. 
‘‘(3) INSURANCE COMPANY.—The term ‘insur-
ance company’ has the meaning given the term in 
section 201(a). 
‘‘(b) ADVANCE COORDINATION.— 
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‘‘(ii) INFORMATION UNAVAILABLE.—If 
a financial regulator, under subparagraph 
(A) determines that the data or informa-
tion described in that subparagraph is not 
available, the financial regulatory may col-
lect that data or information from the ap-
plicable covered entity only if the financial 
regulator complies with the requirements 
of subchapter I of chapter 35 of title 44, 
United States Code (commonly referred to 
as the ‘Paperwork Reduction Act’), in col-
lecting that data or information. 
‘‘(2) AUTHORITY TO PROVIDE INFORMATION.— 
Notwithstanding any other provision of law, for the 
purposes of paragraph (1), each relevant Federal 
agency and State insurance regulator or other Fed-
eral or State regulatory agency may provide to a fi-
nancial regulator data or information described in 
that paragraph. 
‘‘(c) CONFIDENTIALITY.— 
‘‘(1) RETENTION OF PRIVILEGE.—The sharing 
by a covered entity of any nonpublicly available data 
or information with a financial regulator under this 
title or title II shall not constitute a waiver of, or 
otherwise affect, any privilege arising under Federal 
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or State law (including the rules of any Federal or 
State court) to which the data or information is oth-
erwise subject. 
‘‘(2) CONTINUED APPLICATION OF PRIOR CON-
FIDENTIALITY
AGREEMENTS.—Any 
requirement 
under Federal or State law to the extent otherwise 
applicable, or any requirement pursuant to a written 
agreement in effect between the original source of 
any nonpublicly available data or information and 
the source of that data or information to a financial 
regulator, regarding the privacy or confidentiality of 
any data or information in the possession of the 
source to a financial regulator, shall continue to 
apply to that data or information after the data or 
information has been provided under this section to 
the financial regulator. 
‘‘(3) 
INFORMATION-SHARING
AGREEMENT.— 
Any data or information obtained by a financial reg-
ulator may be made available to State insurance reg-
ulators, individually or collectively, through an infor-
mation-sharing agreement that— 
‘‘(A) shall comply with applicable Federal 
law; and 
‘‘(B) shall not constitute a waiver of, or 
otherwise affect, any privilege under Federal or 
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State law (including any privilege described in 
paragraph (1) and the rules of any Federal or 
State court) to which the data or information is 
otherwise subject. 
‘‘(4) AGENCY
DISCLOSURE
REQUIREMENTS.— 
Section 552 of title 5, United States Code, including 
the exceptions under that section, shall apply to any 
data or information submitted to a financial regu-
lator by a covered entity under this section.’’. 
(b) TECHNICAL AMENDMENT.—The table of contents 
in section 1(b) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (Public Law 111–203) is 
amended by inserting after the item relating to section 
176 the following: 
‘‘Subtitle D—Treatment of Data Collected From Insurance Companies 
‘‘Sec. 181. Treatment of data collected from insurance companies by financial 
regulators.’’. 
Æ 
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