New! Hearing Scheduled on Exams Bill H.R. 3461

The House Financial Services Financial Institutions Subcommittee has scheduled a hearing on the ABA-supported exams bill (H.R. 3461) for Wednesday, February 1.  ABA Chairman Kell Kelly will testify on ABA’s behalf.  The hearing will begin with testimony from the federal banking regulators. 

The exams bill, introduced by Rep. Shelley Moore Capito (R-WV) and Rep. Carolyn Maloney (D-NY), would ensure that banks receive timely examination reports, including full documentation of the information regulators used to make their determinations, and it would provide new standards for examinations.  It also would establish a new, independent inter-agency ombudsman within the Federal Financial Institutions Examination Council to ensure the consistency and quality of all exams, and would create a process for banks to appeal examination decisions without fear of reprisal.

Click here for a detailed explanation of the bill by the ABA.