S. 5158 — Federal Insurance Office Abolishment Act of 2026

This section abolishes the Federal Insurance Office in the Department of the Treasury and the position of its director. It preserves the Secretary of the Treasury's existing authority over insurance matters.

This section removes the Federal Insurance Office and its Director from Financial Stability Oversight Council membership, consultations, and related interagency references under the Dodd-Frank Act. It substitutes the Secretary of the Treasury for the Director in stress testing for nonbank financial companies and in orderly liquidation authority determinations. It also eliminates the Director from specified interagency groups under the Economic Growth, Regulatory Relief, and Consumer Protection Act.