The bill would revise section 171 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, a section which is sometimes called the "Collins Amendment". The bill would "clarify that the Federal Reserve Board can apply insurance-based capital standards to the insurance portion of any insurance holding company it oversees." The change would mean that bank capital rules would be applied only to the banking portions of a business, with separate insurance capital rules being applied to insurance-related portions.
