FAIR Exams Act
Sponsored By: Representative Hill, J. French [R-AR-2]
In Committee
Summary
This bill would set strict deadlines for federal bank exams and create a new review office inside the Federal Financial Institutions Examination Council to give insured institutions a formal appeal. A new right to independent review of material supervisory determinations.
Show full summary
- Depository institutions and insured credit unions would face clearer exam timelines. Exams must finish within 270 days and final reports must include an appendix listing all factual information relied on and be delivered within 90 days after the exit interview or any requested follow up.
- Insured institutions would gain a path to challenge material supervisory determinations through a de novo review by a three-member Board. The Board must resolve appeals on a fast timetable, with key filing and decision windows set at 60 days.
- The bill creates an Office of Independent Examination Review with a three-member Presidential-appointed Board and requires agencies to share costs, with each designated agency paying one-quarter of Office expenses. The Office would handle complaint intake, quality assurance, and publish redacted summaries of guidance determinations.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Faster bank exam timelines and access
If enacted, agencies would have to finish any exam within 270 days of the start. If enacted, agencies would hold an exit interview with senior management within 30 days after the exam ends. If enacted, the agency must give the final exam report within 90 days after the later of the exit interview or when the institution gives extra material information. If enacted, an institution could ask within 7 days for all exam notes and facts used for a key finding. If asked, the agency must give those materials within 14 days.
Independent appeals and faster decisions for banks
If enacted, an insured bank or credit union could ask the Board for a new, de novo review of material supervisory findings. If enacted, the bank must give written notice within 60 days of the final exam report. If enacted, the Board must decide within 60 days after the record closes, and that decision would bind the agency. If enacted, agencies must acknowledge certain written requests within 30 days, decide within 60 days after a complete filing, and post a redacted summary within 120 days. If enacted, the bill would also bar agency retaliation like delaying or withholding approvals for using these rights.
New independent exam review office
If enacted, the Council would get an Office of Independent Examination Review led by a three-member Board. If enacted, the Board would take complaints, review exam policies, do quality assurance, and report to Congress each year. If enacted, the President would name members with 3-year terms and limits on prior agency or industry work. If enacted, each named agency would pay one-fourth of the Office's costs, and the law would update which agencies are covered.
Sponsors & CoSponsors
Sponsor
Hill, J. French [R-AR-2]
AR • R
Cosponsors
Rep. Meuser, Daniel [R-PA-9]
PA • R
Sponsored 2/4/2025
Rep. Wagner, Ann [R-MO-2]
MO • R
Sponsored 2/4/2025
Rep. Huizenga, Bill [R-MI-4]
MI • R
Sponsored 2/4/2025
Timmons
SC • R
Sponsored 2/4/2025
Moore (NC)
NC • R
Sponsored 2/4/2025
Rep. Williams, Roger [R-TX-25]
TX • R
Sponsored 2/4/2025
Haridopolos
FL • R
Sponsored 2/12/2025
Sessions
TX • R
Sponsored 5/19/2025
Scott, David
GA • D
Sponsored 7/15/2025
Rep. Fields, Cleo [D-LA-6]
LA • D
Sponsored 7/15/2025
Roll Call Votes
No roll call votes available for this bill.
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