H.R. 3461 (112th): Financial Institutions Examination Fairness and Reform Act

Introduced:
Nov 17, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
See Instead:

S. 2160 (same title)
Referred to Committee — Mar 06, 2012

Sponsor
Shelley Capito
Representative for West Virginia's 2nd congressional district
Party
Republican
Text
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Last Updated
Nov 17, 2011
Length
13 pages
Related Bills
H.R. 1553 (113th) was a re-introduction of this bill in a later Congress.

Referred to Committee
Last Action: Apr 15, 2013

S. 2160 (Related)
Financial Institutions Examination Fairness and Reform Act

Referred to Committee
Last Action: Mar 06, 2012

 
Status

This bill was introduced on November 17, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Nov 17, 2011
Referred to Committee Nov 17, 2011
 
Full Title

To improve the examination of depository institutions, and for other purposes.

Summary

No summaries available.

Cosponsors
192 cosponsors (147R, 45D) (show)
Committees

House Financial Services

Financial Institutions and Consumer Credit

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Citation

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


11/17/2011--Introduced.
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.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

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