The main purpose of this legislation is to clarify the authority of the Bureau of Consumer Financial Protection (CFPB) in relation to individuals and entities that are regulated by state insurance regulators. The goal is to ensure that the CFPB's enforcement powers do not overlap or conflict with the authority of state regulators when it comes to the business of insurance. Key provisions of the legislation include specific limitations on the CFPB's ability to enforce consumer financial laws against persons who are regulated by state insurance authorities.