Financial Institutions Examination Fairness and Reform Act

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.

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Timeline

1. 6 March 2012

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 6 March 2012

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 6 March 2012 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 March 2012

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 March 2012

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 6 March 2012

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Manchin, Joe, III [D-WV] · D · Sponsor
• Sen. Wicker, Roger F. [R-MS] · R · Cosponsor
• Sen. Johanns, Mike [R-NE] · R · Cosponsor
• Sen. Barrasso, John [R-WY] · R · Cosponsor
• Sen. Thune, John [R-SD] · R · Cosponsor
• Sen. Chambliss, Saxby [R-GA] · R · Cosponsor
• Sen. Hutchison, Kay Bailey [R-TX] · R · Cosponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• Sen. Cornyn, John [R-TX] · R · Cosponsor
• Sen. Collins, Susan M. [R-ME] · R · Cosponsor
• Sen. Roberts, Pat [R-KS] · R · Cosponsor
• Sen. Portman, Rob [R-OH] · R · Cosponsor
• Sen. Inhofe, James M. [R-OK] · R · Cosponsor
• Sen. Enzi, Michael B. [R-WY] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Financial Institutions Examination Fairness and Reform Act