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United States · Bill · HR

H.R. 3461 (112th)

Financial Institutions Examination Fairness and Reform Act

openUnited States· United States Congress· EN

Introduced

17 November 2011

Last action

1 February 2012 · Committee

Status

Subcommittee Hearings Held.

Sponsors

Sen. Capito, Shelley Moore [R-WV], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Bachus, Spencer [R-AL-6], Rep. Schweikert, David [R-AZ-1], Rep. Posey, Bill [R-FL-8], Rep. Westmoreland, Lynn A. [R-GA-3], James Renacci, Rep. Carney, John C., Jr. [D-DE-At Large], Rep. Pearce, Stevan [R-NM-2], Rep. Duffy, Sean P. [R-WI-7], Rep. Dold, Robert J. [R-IL-10], Rep. Jones, Walter B., Jr. [R-NC-3], Rep. McCotter, Thaddeus G. [R-MI-11], Rep. Biggert, Judy [R-IL-13], Rep. Royce, Edward R. [R-CA-39], Rep. Grimm, Michael G. [R-NY-11], Sen. Gardner, Cory [R-CO], Rep. Hurt, Robert [R-VA-5], Rep. Ross, Mike [D-AR-4], David Scott, Rep. Huizenga, Bill [R-MI-4], Rep. Tipton, Scott R. [R-CO-3], Rep. McHenry, Patrick T. [R-NC-10], Rep. Womack, Steve [R-AR-3], Rep. Manzullo, Donald A. [R-IL-16], Rep. Critz, Mark S. [D-PA-12], Rep. Cravaack, Chip [R-MN-8], Rep. Pitts, Joseph R. [R-PA-16], Rep. Schock, Aaron [R-IL-18], Rep. Johnson, Timothy V. [R-IL-15], Rep. Kissell, Larry [D-NC-8], Rep. Lucas, Frank D. [R-OK-3], Rep. Yoder, Kevin [R-KS-3], Rep. Nugent, Richard B. [R-FL-11], Rep. Latham, Tom [R-IA-3], Rep. Benishek, Dan [R-MI-1], Rep. Griffin, Tim [R-AR-2], Rep. Terry, Lee [R-NE-2], Rep. McIntyre, Mike [D-NC-7], Rep. Carter, John R. [R-TX-31], Rep. Ross, Dennis A. [R-FL-15], Rep. Richmond, Cedric L. [D-LA-2], Rep. Foxx, Virginia [R-NC-5], Rep. Brown, Corrine [D-FL-5], Rep. Green, Gene [D-TX-29], Sen. Lankford, James [R-OK], Rep. Duncan, Jeff [R-SC-3], Rep. Hultgren, Randy [R-IL-14]

Subjects

Discovery layer

Source updated

10 January 2026

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Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 17 November 2011

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 17 November 2011

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 17 November 2011

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 12 January 2012

    Referred

    Referred to the Subcommittee on Financial Institutions and Consumer Credit.

    Source: Committee

  5. 1 February 2012

    Committee

    Subcommittee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 17 November 2011

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  • Introduced in House (PDF)

    Introduced in House · EN · 17 November 2011

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  • Introduced in House

    summary · EN · 17 November 2011

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Sources

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