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FAIR Exams Act
8/9/2025, 6:41 PM
Summary of Bill HR 940
The main goal of the bill is to strengthen the examination procedures for depository institutions, such as banks and credit unions, in order to ensure their financial stability and compliance with federal regulations. This includes enhancing the coordination and communication among the various regulatory agencies that oversee these institutions.
Additionally, the bill includes provisions to enhance the training and qualifications of examiners, as well as improve the examination process itself to make it more efficient and effective. The bill also aims to increase transparency and accountability in the examination process, ensuring that depository institutions are held to high standards of financial responsibility. Overall, Bill 119 HR 940 seeks to modernize and improve the examination process for depository institutions in order to better protect consumers and maintain the stability of the financial system in the United States.
Congressional Summary of HR 940
Fair Audits and Inspections for Regulators’ Exams Act or the FAIR Exams Act
This bill establishes new procedures related to the federal examination of financial intuitions. Specifically, the bill establishes the Office of Independent Examination Review within the Federal Financial Institutions Examination Council to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. Under the bill, financial institutions have the right to obtain an independent review of a material supervisory determination contained in a final report of examination. The bill sets forth provisions regarding hearings and final decisions.
The bill also sets deadlines for federal financial regulatory agencies to provide final examination reports and to perform exit interviews of a financial institution. In addition, the agency must list all materials relied upon in support of a material supervisory determination upon the request of the financial institution.
Read the Full Bill
Current Status of Bill HR 940
Bipartisan Support of Bill HR 940
Total Number of Sponsors
8Democrat Sponsors
0Republican Sponsors
8Unaffiliated Sponsors
0Total Number of Cosponsors
31Democrat Cosponsors
2Republican Cosponsors
29Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 940
Primary Policy Focus
Finance and Financial SectorAlternate Title(s) of Bill HR 940
Comments
Jalen Ford
8 months ago
I can't believe this bill is even being considered. It's just another example of government overreach and unnecessary regulation. It's going to make things more difficult for everyone involved, including students, teachers, and administrators. This is not the solution we need to improve our education system. Did you know that this bill was actually introduced by a bipartisan group of lawmakers?
