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H.R. 3461 · 112th Congress

Financial Institutions Examination Fairness and Reform Act

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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

SCR CapitoSponsor
192 cosponsors · 45 D, 147 R
SBR Bachus JCD Carney SDR Duffy CMD Maloney SPR Pearce BPR Posey JRR Renacci DSR Schweikert LWR Westmoreland JBR Biggert BDR Dold CGR Gardner MGR Grimm WJR Jones TMR McCotter ERR Royce MCD Critz CCR Cravaack BHR Huizenga RHR Hurt DMR Manzullo PMR McHenry JPR Pitts MRD Ross DSD Scott ASR Schock STR Tipton SWR Womack CBD Brown DBR Benishek JCR Carter JDR Duncan VFR Foxx GGD Green TGR Griffin RHR Hultgren TJR Johnson LKD Kissell TLR Latham FLR Lucas JLR Lankford MMD McIntyre RNR Nugent CRD Richmond DRR Ross JSR Sullivan LTR Terry KYR Yoder DBD Boren KCR Calvert RER Ellmers SFR Fincher BGR Guthrie NHR Hayworth THR Huelskamp GMD Moore KNR Noem EPD Perlmutter NRD Rahall DRR Rehberg SSR Scalise TSR Scott GTR Thompson WAR Akin EPR Paulsen FWR Wolf MBR Blackburn GCD Connolly QCR Canseco RCR Crawford JDR Duncan SGR Garrett JHR Heck WOD Owens MPR Pompeo PRR Roskam MTR Thornberry MAR Amodei CFR Fleischmann KGR Granger PMR Meehan HCR Coble TCR Cole BCD Chandler CDR Dent JFR Forbes JFR Fortenberry MFR Fitzpatrick LJR Jenkins NLD Lowey CLR Lummis KMR Marchant MPR Pence JSR Schmidt BSR Schilling SSR Stivers EWR Whitfield MCR Coffman RFR Frelinghuysen JKR Kline SMR Myrick DMR McKinley MTR Turner AMR Marie Buerkle SJD Jackson Lee DLD Loebsack CMD McCarthy GBR Bilirakis RLR Latta MQD Quigley TRR Rooney DRR Rivera HSD Shuler SBD Berkley VBR Buchanan RBR Berg HCD Cuellar MDR Diaz-Balart PGR Gosar BLD Luján CMR Miller IRR Ros-Lehtinen ASR Smith RHR Hanna JLR Landry SRD Rothman MSR Simpson ASD Sires RWR Wittman DCR Camp JGR Gerlach CGR Gibson JWR Wilson SAR Adams LBD Boswell CBR Boustany BFR Farenthold BGR Gibbs LLR Lance DWD Wasserman Schultz JWR Walsh JAR Amash JBR Bonner BBD Braley ACR Crenshaw KCD Castor JAR Ann Emerson RHD Hinojosa DKD Kildee FLR LoBiondo TMR Marino MRR Rogers PTD Tonko AWR West SCR Chabot ECD Cleaver MHD Hinchey SKR King MKR Kelly JMR Miller RNR Neugebauer ANR Nunnelee GPD Peters SSR Southerland TWR Walberg LBR Barletta KCR Conaway LGD Gutiérrez KSD Schrader PBR Broun SDR DesJarlais CSR Stearns SAR Austria JCD Cooper AKR Kinzinger RLR Labrador TPR Poe SRD Reyes LSR Smith DYR Young WCD Clay JSR Shimkus JDD Donnelly SGR Graves BJR Johnson BSD Sherman RAR Alexander DBR Black BCR Cassidy POR Olson GWR Walden RRR Ribble

9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2)…

What it does: CRS summary · Introduced in House · Nov 17, 2011

Financial Institutions Examination Fairness and Reform Act - Amends the Federal Financial Institutions Examination Council Act of 1978 to require a federal financial institutions regulatory agency to make a final examination report to a financial institution within 60 days of the later of: (1) the exit interview for an examination of the institution, or (2) the provision of additional information by the institution relating to the examination.

Sets a deadline for the exit interview if a financial institution is not subject to a resident examiner program.

Sets forth examination standards for financial institutions.

Prohibits federal financial institutions regulatory agencies from requiring a well capitalized financial institution to raise additional capital in lieu of an action prohibited by the examination standards.

Establishes in the Federal Financial Institutions Examination Council an Office of Examination Ombudsman.

Grants a financial institution the right to appeal a material supervisory determination contained in a final report of examination.

Requires the Ombudsman to determine the merits of the appeal on the record, after an opportunity for a hearing before an independent administrative law judge.

Declares the decision by the Ombudsman on an appeal to: (1) be the final agency action, and (2) bind the agency whose supervisory determination was the subject of the appeal and the financial institution making the appeal.

Amends the Riegle Community Development and Regulatory Improvement Act of 1994 to require: (1) the Consumer Financial Protection Bureau (CFPB) to establish an independent intra-agency appellate process in connection with the regulatory appeals process; and (2) appropriate safeguards to protect an insured depository institution or insured credit union from retaliation by the CFPB, the National Credit Union Administration (NCUA) Board, or any other federal banking agency for exercising its rights.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Financial Institutions Examination Fairness and Reform Act

Latest action (Feb 1, 2012): Subcommittee Hearings Held.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Nov 17, 2011

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.