PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in House · Mar 19, 2015
Policyholder Protection Act of 2015
This bill amends the Federal Deposit Insurance Act to declare that any action of the Federal Deposit Insurance Corporation (FDIC) that requires a bank holding company to provide funds or other assets to a subsidiary depository institution is neither effective nor enforceable with respect to 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 directly or indirectly controls an insured depository institution (entities) if:
such funds or assets are to be provided by the entity, and
Showing the opening paragraphs of the official summary.
the relevant state insurance authority determines that such an action would have a materially adverse effect on the entity's financial condition.
The bill declares that requiring a bank holding company that is an insurance company to serve as a source of financial strength shall be deemed the kind of 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 for specified purposes of the Bank Holding Company Act of 1956.
The Dodd-Frank Wall Street Reform and Consumer Protection Act is amended, with respect to systemic risk determination and the treatment of insurance companies and their subsidiaries, to authorize the 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.
The FDIC, when funding the orderly liquidation of an insurance company or its subsidiary, shall notify the relevant state insurance authority promptly of its intention to take a lien on the company's assets.
The FDIC may not take such a lien, however, if the state insurance authority informs it that doing so would have a materially adverse effect upon the insurance company's policyholders.
People & committees
Rep. Posey, Bill [R-FL-8] · R–FL
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H8217)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H8217)
DEBATE - The House proceeded with forty minutes of debate on H.R. 1478.
Considered under suspension of the rules. (consideration: CR H8217-8219)
Mr. Posey moved to suspend the rules and pass the bill, as amended.
Placed on the Union Calendar, Calendar No. 260.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-338.
Reported (Amended) by the Committee on Financial Services. H. Rept. 114-338.
Ordered to be Reported (Amended) by the Yeas and Nays: 57 - 0.
Committee Consideration and Mark-up Session Held.
Committee Consideration and Mark-up Session Held.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Dec 5, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze H.R.1478 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.1478 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine H.R.1478 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine H.R.1478 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.