Bill > HR4437

This bill provides regulatory relief for small to mid-sized financial institutions by modifying examination practices for well-managed and well-capitalized insured depository institutions and credit unions with $6 billion or less in consolidated assets. The bill introduces two primary provisions: first, it mandates that after a full-scope on-site examination, the next examination will be a limited-scope examination, and institutions can request combined examinations for safety, compliance, and technology reviews. Second, it establishes new examination practices that require agencies to minimize the number of examiners, schedule examinations at convenient times for the institution, provide advance notice of examination issues, and prioritize experienced examiners. The bill also requires federal banking agencies and the National Credit Union Administration to include detailed reporting in their annual Congressional reports about their examination practices, such as average examiner experience, number of examiners used, and time spent conducting on-site examinations. Importantly, these provisions do not apply to institutions currently under formal enforcement proceedings or those that have recently undergone a change in control, and the agencies retain the authority to conduct additional monitoring or examinations if they determine it necessary for safety and soundness.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/4437/all-info