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H. Rept. 115-589 1 (2018-03-06)

handle is hein.congrecreports/crptxabbx0001 and id is 1 raw text is: 115TH CONGRESS 2d Session j HOUSE OF REPRESENTATIVES FINANCIAL MARCH 6, 2018.- INSTITUTIONS EXAMINATION FAIRNESS AND REFORM ACT -Committed to the Committee of the Whole House on the State of the Union and ordered to be printed Mr. HENSARLING, from the Committee on Financial Services, submitted the following REPORT together with MINORITY VIEWS [To accompany H.R. 4545] [Including cost estimate of the Congressional Budget Office] The Committee on Financial Services, to whom was referred the bill (H.R. 4545) to amend the Federal Financial Institutions Exam- ination Council Act of 1978 to improve the examination of deposi- tory institutions, and for other purposes, having considered the same, report favorably thereon without amendment and rec- ommend that the bill do pass. PURPOSE AND SUMMARY Introduced by Representative Tipton on December 4, 2017, the Financial Institutions Examination Fairness and Reform Act amends the Federal Financial Institutions Examination Council Act of 1978 to establish deadlines within which regulatory agencies must hold exit interviews and issue final examination reports to fi- nancial institutions. The bill would also provide supervised finan- cial institutions the right to have material supervisory determina- tions reviewed by a newly created Independent Examination Re- view Director within the Federal Financial Institutions Examina- tion Council (FFIEC). 79-006 AUT-ENTICATED US. GOVERNMENT INFORMATION GP REPORT 115-589