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United States · Bill · S

S. 727 (113th)

Financial Institutions Examination Fairness and Reform Act

openUnited States· United States Congress· EN

Introduced

15 April 2013

Last action

16 September 2014 · Committee

Status

Committee on Banking, Housing, and Urban Affairs. Hearings held.

Sponsors

Jerry Moran, Sen. Manchin, Joe, III [I-WV], Mike Crapo, Rep. Roberts, Pat [R-KS-1], John Cornyn, John Boozman, Rep. Cochran, Thad [R-MS-4], Sen. Heller, Dean [R-NV], Sen. Chambliss, Saxby [R-GA], John Barrasso, John Thune, Sen. Portman, Rob [R-OH], James Risch, Roger Wicker, Sen. Ayotte, Kelly [R-NH], Tim Scott, Sen. Pryor, Mark L. [D-AR], Susan Collins, Sen. Enzi, Michael B. [R-WY], Sen. Begich, Mark [D-AK], Sen. Kirk, Mark Steven [R-IL], Lisa Murkowski, Sen. Rubio, Marco [R-FL], Sen. Graham, Lindsey [R-SC], Rep. Inhofe, James M. [R-OK-1], Sen. Walsh, John E. [D-MT], Deb Fischer

Subjects

Discovery layer

Source updated

10 January 2026

Official sourceDownload fileView documentsShare

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. 15 April 2013

    Introduced

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

    Source: IntroReferral

  2. 15 April 2013

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 16 September 2014

    Committee

    Committee on Banking, Housing, and Urban Affairs. Hearings held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

Sources

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