Bill
Bill > HR1553
summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
113th Congress
Bill Summary
To improve the examination of depository institutions, and for other purposes.
AI Summary
This bill, titled the Financial Institutions Examination Fairness and Reform Act, aims to improve the examination process for banks and other financial institutions by establishing clearer timelines and standards. Key provisions include requiring federal financial institutions regulatory agencies to provide final examination reports within 60 days of an exit interview or the submission of additional information, and setting a general 9-month limit for examinations unless an extension is justified. The bill also clarifies that a commercial loan should not be considered non-accrual (meaning it's not generating interest income) solely due to a decline in collateral value, and outlines conditions for removing modified loans from non-accrual status. Furthermore, it mandates that new appraisals for performing commercial loans are not needed unless new funds are advanced, and it establishes an Office of Examination Ombudsman to receive and investigate complaints from financial institutions about examinations, conduct meetings to discuss procedures, and review examination quality assurance. Importantly, financial institutions will gain the right to appeal material supervisory determinations made during examinations before an independent administrative law judge, with the Ombudsman making a final decision, and the bill explicitly prohibits retaliation against institutions for exercising these appeal rights. The bill also makes technical amendments to various acts, including adding the Bureau of Consumer Financial Protection to certain provisions related to agency oversight and retaliation protections for insured depository institutions and credit unions.
Committee Categories
Business and Industry
Sponsors (157)
Shelley Moore Capito (R)*,
Rodney Alexander (R),
Michele Bachmann (R),
Spencer Bachus (R),
Lou Barletta (R),
Andy Barr (R),
John Barrow (D),
Kerry Bentivolio (R),
Gus Bilirakis (R),
Diane Black (R),
Marsha Blackburn (R),
Kevin Brady (R),
Bruce Braley (D),
Mo Brooks (R),
Cheri Bustos (D),
John Carney (D),
André Carson (D),
John Carter (R),
Mike Coffman (R),
Tom Cole (R),
K. Michael Conaway (R),
Gerry Connolly (D),
Jim Cooper (D),
Tom Cotton (R),
Kevin Cramer (R),
Rick Crawford (R),
Ander Crenshaw (R),
Steve Daines (R),
Rodney Davis (R),
Suzan DelBene (D),
Scott DesJarlais (R),
Tammy Duckworth (D),
Sean Duffy (R),
Jeff Duncan (R),
John Duncan (R),
William Enyart (D),
Blake Farenthold (R),
Stephen Fincher (R),
Michael Fitzpatrick (R),
Chuck Fleischmann (R),
Bill Flores (R),
Bill Foster (D),
Rodney Frelinghuysen (R),
Cory Gardner (R),
Scott Garrett (R),
Jim Gerlach (R),
Bob Gibbs (R),
Christopher Gibson (R),
Paul Gosar (R),
Kay Granger (R),
Sam Graves (R),
Tom Graves (R),
Tim Griffin (R),
Michael Grimm (R),
Brett Guthrie (R),
Luis Gutiérrez (D),
Gregg Harper (R),
Andy Harris (R),
Vicky Hartzler (R),
Denny Heck (D),
Joseph Heck (R),
Rubén Hinojosa (D),
Tim Huelskamp (R),
Bill Huizenga (R),
Randy Hultgren (R),
Robert Hurt (R),
Lynn Jenkins (R),
Bill Johnson (R),
Mike Kelly (R),
Derek Kilmer (D),
Peter King (R),
Steve King (R),
Jack Kingston (R),
Adam Kinzinger (R),
John Kline (R),
Ann Kuster (D),
James Lankford (R),
Tom Latham (R),
Daniel Lipinski (D),
David Loebsack (D),
Frank Lucas (R),
Blaine Luetkemeyer (R),
Ben Ray Luján (D),
Cynthia Lummis (R),
Daniel Maffei (D),
Carolyn Maloney (D),
Vance McAllister (R),
Carolyn McCarthy (D),
Michael McCaul (R),
Patrick McHenry (R),
Patrick Meehan (R),
Grace Meng (D),
Gary Miller (R),
Jeff Miller (R),
Gwen Moore (D),
Mick Mulvaney (R),
Patrick Murphy (D),
Randy Neugebauer (R),
Kristi Noem (R),
Richard Nugent (R),
Alan Nunnelee (R),
Pete Olson (R),
Erik Paulsen (R),
Stevan Pearce (R),
Ed Perlmutter (D),
Gary Peters (D),
Scott Peters (D),
Collin Peterson (D),
Thomas Petri (R),
Robert Pittenger (R),
Ted Poe (R),
Mike Pompeo (R),
Bill Posey (R),
Mike Quigley (D),
Trey Radel (R),
Nick Rahall (D),
Reid Ribble (R),
Tom Rice (R),
Cedric Richmond (D),
E. Scott Rigell (R),
David Roe (R),
Thomas Rooney (R),
Peter Roskam (R),
Dennis Ross (R),
Keith Rothfus (R),
Edward Royce (R),
Steve Scalise (R),
Aaron Schock (R),
David Schweikert (R),
Austin Scott (R),
Terri Sewell (D),
Carol Shea-Porter (D),
John Shimkus (R),
Adrian Smith (R),
Jason Smith (R),
Lamar Smith (R),
Steve Southerland (R),
Chris Stewart (R),
Steve Stivers (R),
Lee Terry (R),
Mac Thornberry (R),
Patrick Tiberi (R),
Scott Tipton (R),
Marc Veasey (D),
Filemón Vela (D),
Ann Wagner (R),
Tim Walberg (R),
Debbie Wasserman Schultz (D),
Lynn Westmoreland (R),
Joe Wilson (R),
Rob Wittman (R),
Frank Wolf (R),
Steve Womack (R),
Rob Woodall (R),
Kevin Yoder (R),
Don Young (R),
Todd Young (R),
Last Action
Referred to the House Committee on Financial Services. (on 04/15/2013)
Official Document
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/113th-congress/house-bill/1553/all-info |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-113hr1553ih/pdf/BILLS-113hr1553ih.pdf.pdf |
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