H.R.924 - Financial Institutions Due Process Act of 2017115th Congress (2017-2018) |
|Sponsor:||Rep. Rothfus, Keith J. [R-PA-12] (Introduced 02/07/2017)|
|Committees:||House - Financial Services|
|Latest Action:||House - 07/12/2017 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.924 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (02/07/2017)
Financial Institutions Due Process Act of 2017
This bill amends the Federal Financial Institutions Examination Council Act of 1978 to establish an Independent Examination Review Panel. The panel shall have exclusive jurisdiction of an appeal of a final material supervisory determination of a federal financial institutions regulatory agency.
A financial institution may request from a federal financial institutions regulatory agency a written determination of the agency's: (1) permission to take an action, and (2) interpretation of a law or regulation. An agency must respond to such a request within a specified timeframe.
The bill also establishes timeframes within which a federal financial institutions regulatory agency must: (1) conduct an exit interview with respect to the examination of a financial institution, and (2) provide a final examination report.