S 5049 · 117th Congress · Finance and Financial Sector
Financial Institutions Examination Fairness and Reform Act
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.(2022-09-29)
Plain Language Summary
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Financial Institutions Examination Fairness and Reform Act This bill (1) sets deadlines for final examination reports and exit interviews of a financial institution by a federal financial regulatory agency, and (2) establishes the Office of Independent Examination Review to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. The bill also requires the establishment of an independent internal agency appellate process at the Consumer Financial Protection Bureau (CFPB) for the review of supervisory determinations made at institutions supervised by the CFPB.…
Summarized by Claude AI · Non-partisan · For informational purposes only