S. 798: Policyholder Protection Act of 2015

114th Congress · introduced 2015-03-19 · Finance and Financial Sector · Latest: Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held.

federal

Follow this bill, step by step

Where it came from: introduced 2015-03-19 · official record
Who proposed it: Sen. Vitter, David [R-LA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Committee on Banking, Housing, and Urban Affairs Subcommittee on Securities, Insurance, and Investment. Hearings held. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Policyholder Protection Act of 2015

Plain summary

Policyholder Protection Act of 2015 Amends the Federal Deposit Insurance Act to declare that any regulation, order, or other action of the Board of Governors of the Federal Reserve System that requires a bank holding company to provide funds or other assets to a subsidiary depository institution shall not be effective nor enforceable with respect to an entity that is a savings and loan holding company that is also an insurance company, an affiliate of an insured depository institution that is an insurance company, or any other company that is an insurance company and that directly or indirectly controls an insured depository institution if: (1) such funds or assets are to be provided by the entity, and (2) the state insurance authority for the insurance company determines that such an action would have a materially adverse effect on the entity's financial condition. Declares that requiring a bank holding company that is an insurance company or such an entity to serve as a source of financial strength shall be deemed the kind of action of the Board to which this Act applies. Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act, with respect to systemic risk determination and the treatment of insurance companies and their subsidiaries, to authorize the Federal Deposit Insurance Corporation (FDIC) to stand in the place of the appropriate regulatory agency and file a judicial action to place such companies into orderly rehabilitation under state law if the appropriate regulatory agency has not done so. Requires the FDIC, when funding the orderly liquidation of an insurance company or its subsidiary, to notify the relevant state insurance authority promptly of its intention to take a lien on the company's assets. Prohibits the FDIC from taking such a lien if the state insurance authority informs it that doing so would have a materially adverse effect upon the insurance company's policyholders.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Policyholder Protection Act of 2015

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Vitter, David [R-LA] · 7 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Susan M. Collins (R-ME), Mike Rounds (R-SD), Steve Daines (R-MT)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (3)

Appropriation: Money a legislature sets aside by law for a specific purpose. Government agencies may spend public money only as it has been appropriated.
Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s798.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s798 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114