H.R. 3354 (119th)Bill Overview

Primary Regulators of Insurance Vote Act of 2025

Finance and Financial Sector|Finance and Financial Sector
Cosponsors
Support
Bipartisan
Introduced
May 13, 2025
Discussions
Bill Text
Current stageCommittee

Referred to the House Committee on Financial Services.

Introduced
Committee
Floor
President
Law
Congressional Activities
01 · The brief
Plain-English summaryWhat this bill actually does

This bill amends the Financial Stability Act of 2010 to add a State insurance commissioner as a voting member of the Financial Stability Oversight Council (FSOC). The insurance commissioner would be appointed by the President with Senate confirmation after the President requests candidate recommendations from the National Association of Insurance Commissioners (NAIC).

Why people may split

Whether the seat should be presidentially appointed versus state-selected

Watch point

Relative to its intended legislative type, this bill is a targeted statutory amendment that clearly identifies and implements a change in the composition and appointment mechanics of the Financial Stability Oversight Council.

This bill amends the Financial Stability Act of 2010 to add a State insurance commissioner as a voting member of the Financial Stability Oversight Council (FSOC).

The insurance commissioner would be appointed by the President with Senate confirmation after the President requests candidate recommendations from the National Association of Insurance Commissioners (NAIC).

The bill adjusts term length and vacancy rules for that seat, removes the existing nonvoting state insurance commissioner slot, provides a temporary transition rule, and makes several technical clarifying edits to the statute.

Passage35/100

Technically focused and low-cost but alters federal-state governance and requires Senate confirmation, reducing enactment prospects.

CredibilityAligned

Relative to its intended legislative type, this bill is a targeted statutory amendment that clearly identifies and implements a change in the composition and appointment mechanics of the Financial Stability Oversight Council. It includes specific statutory edits, appointment procedures, vacancy handling, and transition language, and integrates cleanly into the existing statutory framework.

Contention62/100

Whether the seat should be presidentially appointed versus state-selected

02 · What it does

Who stands to gain, and who may push back.

Likely benefits vs burdens50% / 50%
States · Federal agenciesFederal agencies · States

These are examples from the analysis, not a ranked list of the most-affected groups.

Likely helped
  • StatesAdds a State insurance commissioner as a voting FSOC member, providing insurance-sector expertise in systemic risk over…
  • Federal agenciesMay improve federal-state coordination on insurance regulation and crisis response through formal council participation.
  • StatesPotentially narrows regulatory gaps for insurers by integrating state perspectives into Council determinations and reco…
Likely burdened
  • Federal agenciesCreates a presidentially appointed, Senate-confirmed role that may federalize or politicize a traditionally state regul…
  • Federal agenciesCould undermine state autonomy by making the insurance commissioner subject to federal appointment and Council influenc…
  • StatesThe vacancy rule allows a nonvoting interim designee, potentially leaving state input muted during vacancies.
03 · Why people split

Why the argument around this bill splits.

Whether the seat should be presidentially appointed versus state-selected
Progressive75%

Likely sees including a state insurance regulator on FSOC as a net positive for systemic financial oversight and consumer protection, but has concerns about politicization and industry capture.

Worries the presidential appointment and Senate confirmation process, plus allowance to pick outside NAIC recommendations, could produce appointees less protective of consumers.

Would favor safeguards to ensure the appointee prioritizes financial stability and consumer interests.

Leans supportive
Centrist70%

Views the change as a pragmatic improvement to FSOC's composition by adding direct insurance-regulatory expertise.

Supports clearer inclusion of state insurance perspective but is cautious about appointment mechanics, confirmation delays, and vacancy provisions.

Would back the bill if safeguards limit politicization and ensure timely, competent appointments.

Leans supportive
Conservative20%

Likely opposes adding a President-appointed, Senate-confirmed insurance commissioner as a voting FSOC member because it expands federal control and risks undermining state authority.

Prefers state-selected representation or retaining a nonvoting role.

Concerned this increases federal bureaucracy and politicization of insurance regulation.

Likely resistant
04 · Can it pass?

The path through Congress.

Introduced

Reached or meaningfully advanced

Committee

Reached or meaningfully advanced

Floor

Still ahead

President

Still ahead

Law

Still ahead

Passage likelihood35/100

Technically focused and low-cost but alters federal-state governance and requires Senate confirmation, reducing enactment prospects.

Scope and complexity
52%
Scopemoderate
52%
Complexitymedium
Why this could stall
  • Stakeholder positions (NAIC, state regulators, insurers)
  • Whether a President will prioritize nominating such a commissioner
05 · Recent votes

Recent votes on the bill.

No vote history yet

The bill has not accumulated any surfaced votes yet.

06 · Go deeper

Go deeper than the headline read.

Included on this page

Whether the seat should be presidentially appointed versus state-selected

Technically focused and low-cost but alters federal-state governance and requires Senate confirmation, reducing enactment prospects.

Unlocked analysis

Relative to its intended legislative type, this bill is a targeted statutory amendment that clearly identifies and implements a change in the composition and appointment mechanics of the Financial Stability Oversight Co…

Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.

Perspective breakdownsPassage barriersLegislative design reviewStakeholder impact map
Open full analysis