ICBA expressed support for the Senate version of the Fair Audits and Inspections for Regulators’ Exams Act (S. 5335), which would improve the bank examination environment by creating a workable appeals process.
Bill Details: Introduced by Sen. Jerry Moran (R-Kan.), the FAIR Exams Act:
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Would create an Office of Independent Examination Review within the Federal Financial Institutions Examination Council and give financial institutions a right to an expedited, independent review of a material supervisory determination before the Office’s Board of Independent Examination Review.
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Would require timely completion of examinations and final examination reports and ensure that the examined institution has access to all materials relied upon by an agency in support of a material supervisory determination.
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Is included in the Main Street Capital Access Act (H.R. 6955), which recently passed the House by an overwhelming bipartisan margin.
ICBA View: In a letter to Moran, ICBA said the legislation would improve the sometimes oppressive bank examination environment by creating a workable appeals process, thereby promoting trust and accountability in supervisory appeals.
Advocacy: ICBA in 2025 supported the House version of the bill (H.R. 8071), sponsored by House Financial Services Committee Chairman French Hill (R-Ark.).