Fair Audits and Inspections for Regulators' Exams Act

This bill sets deadlines for federal bank and credit union regulators. They would have to finish most examinations within 270 days, hold an exit interview within 30 days after an exam, and deliver a final report within 90 days. Regulators would have to set up a process for financial institutions to request written advice on planned actions, with responses due on set timelines. The bill creates a three-member Office of Independent Examination Review, appointed by the President and confirmed by the Senate, to hear institutions' appeals of key exam findings, with decisions that bind the agency. It also lets banks and credit unions facing certain enforcement actions or penalties choose a hearing in federal district court instead of before the agency.

Full text and official record on Congress.gov

Sponsors

• Jerry Moran Republican sponsor
• 2 cosponsors