By a bipartisan 283-133 vote, the House today passed H.R. 4545, an ABA-advocated bill that would establish deadlines for banking agencies to issue exam reports and create an independent examination review and appeal process.
Browsing: Exam fairness
The House Financial Services Committee today approved 13 financial services bills, including two supported by ABA.
Although the Justice Department has ended its controversial “Operation Choke Point” initiative, the House tonight overwhelmingly passed a bill that would prevent it from being resurrected.
ABA recently hosted two conference calls with bankers to discuss ways to improve the safety and soundness exam process.
The FDIC today issued revised guidelines to expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeal processes.
In a letter to Treasury Secretary Steven Mnuchin yesterday, a group of bipartisan lawmakers urged Treasury to prioritize policy changes that would increase coordination between regulatory agencies conducting bank examinations to help reduce the compliance burden on financial institutions.
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today released the latest legislative text of his Financial Choice Act, a 600-page bill aimed at rolling back and reforming parts of the Dodd-Frank Act’s extensive supervisory regime, as well as providing regulatory relief for banks of all sizes.
Regulatory agencies are seeking targeted ways to relieve regulatory burden, according to senior officials speaking at ABA’s Government Relations Summit this morning.
The FDIC’s proposed supervisory changes to expand banks’ exam appeals options are positive but not nearly enough to address exam fairness problems, ABA said in a comment letter today.
The FDIC board today voted to propose amendments to its supervisory guidelines that would expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeals processes and issue examination guidance for third-party lending.