Congress 115 - HR 4545 - Financial Institutions Examination Fairness and Reform Act

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Cosponsors

Topics

Administrative law and regulatory procedures Banking and financial institutions regulation Consumer Financial Protection Bureau Executive agency funding and structure Federal Reserve System Finance and Financial Sector Government studies and investigations Judicial review and appeals Performance measurement

Full Text

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Summary

Financial Institutions Examination Fairness and Reform Act

(Sec. 2) This bill amends the Federal Financial Institutions Examination Council Act of 1978 to apply specified procedures related to reporting and review, as established by the bill, to a nondepository covered person that is subject to Consumer Financial Protection Bureau (CFPB) supervision.

(Sec. 3) The bill sets deadlines for final examination reports and exit interviews of a financial institution by a federal financial regulatory agency.

(Sec. 4) The Office of Independent Examination Review is established to adjudicate appeals and investigate complaints from financial institutions concerning examination reports.

(Sec. 5) Financial institutions have the right to an independent review of a material supervisory determination. The bill also establishes a limited review by the Federal Financial Institutions Examination Council (FFIEC) if there is evidence that the final decision reached by the office would pose an imminent threat to the financial institution's safety and soundness. Certain retaliatory actions by regulatory agencies with respect to such review are prohibited.

(Sec. 6) The bill also requires the establishment of an independent internal agency appellate process at the CFPB for the review of supervisory determinations made at institutions supervised by the CFPB. The proportion of FFIEC costs covered by regulatory agencies is raised.

(Sec. 7) The bill amends the Federal Reserve Act to lower the maximum allowable amount of surplus funds of the Federal Reserve banks.

Actions

Mar 19, 2018

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 15, 2018

Motion to reconsider laid on the table Agreed to without objection.
Mar 15, 2018

On passage Passed by the Yeas and Nays: 283 - 133 (Roll no. 112).
Mar 15, 2018

Passed/agreed to in House: On passage Passed by the Yeas and Nays: 283 - 133 (Roll no. 112).
Mar 15, 2018

Considered as unfinished business. (consideration: CR H1642-1643)
Mar 15, 2018

POSTPONED PROCEEDINGS - At the conclusion of debate on the Maxine Waters amendment, the Chair put the question on adoption of the amendment and by voice vote announced that the noes had prevailed. Ms. Waters demanded the yeas and nays, and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
Mar 15, 2018

The previous question was ordered on the amendment and the bill without objection.
Mar 15, 2018

DEBATE - Pursuant to the provisions of H.Res. 773, the House proceeded with 10 minutes of debate on the Waters Part B amendment No. 1.
Mar 15, 2018

DEBATE - The House proceeded with one hour of debate on H.R. 4545.
Mar 15, 2018

Rule provides for consideration of H.R. 4545, H.R. 1116 and H.R. 4263. Rule provides for consideration of H.R. 4545 under a structured rule, and makes in order amendments printed in the report, with one motion to recommit with or without instructions. Rule also provides for consideration of H.R. 1116 and H.R. 4263 under closed rules. The rule provides for one hour of debate equally divided and controlled by the Chair and Ranking Minority Member of the Committee on Financial Services for each measure, and one motion to recommit with or without instructions for each measure.
Mar 15, 2018

Considered under the provisions of rule H. Res. 773. (consideration: CR H1624-1634; text of measure as reported in House: CR H1624-1625)
Mar 15, 2018

ORDER OF BUSINESS - Mr. Hensarling asked unanimous consent that the question of adopting amendment No. 1 printed in Part B of House Report 115-595 to H.R.4545 may be subject to postponement as though under clause 8 of rule 20. Agreed to without objection.
Mar 13, 2018

Rules Committee Resolution H. Res. 773 Reported to House. Rule provides for consideration of H.R. 4545, H.R. 1116 and H.R. 4263. Rule provides for consideration of H.R. 4545 under a structured rule, and makes in order amendments printed in the report, with one motion to recommit with or without instructions. Rule also provides for consideration of H.R. 1116 and H.R. 4263 under closed rules. The rule provides for one hour of debate equally divided and controlled by the Chair and Ranking Minority Member of the Committee on Financial Services for each measure, and one motion to recommit with or without instructions for each measure.
Mar 6, 2018

Placed on the Union Calendar, Calendar No. 447.
Mar 6, 2018

Reported by the Committee on Financial Services. H. Rept. 115-589.
Dec 13, 2017

Ordered to be Reported by the Yeas and Nays: 50 - 10.
Dec 13, 2017

Committee Consideration and Mark-up Session Held.
Dec 12, 2017

Committee Consideration and Mark-up Session Held.
Dec 4, 2017

Referred to the House Committee on Financial Services.
Dec 4, 2017

Introduced in House

Amendments

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