| 1 | 1 | | I |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 940 |
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| 5 | 5 | | To amend the Federal Financial Institutions Examination Council Act of |
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| 6 | 6 | | 1978 to improve the examination of depository institutions, and for |
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| 7 | 7 | | other purposes. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | FEBRUARY4, 2025 |
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| 10 | 10 | | Mr. H |
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| 11 | 11 | | ILLof Arkansas (for himself, Mr. MEUSER, Mrs. WAGNER, Mr. |
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| 12 | 12 | | H |
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| 13 | 13 | | UIZENGA, Mr. TIMMONS, Mr. MOOREof North Carolina, and Mr. WIL- |
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| 14 | 14 | | LIAMSof Texas) introduced the following bill; which was referred to the |
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| 15 | 15 | | Committee on Financial Services |
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| 16 | 16 | | A BILL |
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| 17 | 17 | | To amend the Federal Financial Institutions Examination |
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| 18 | 18 | | Council Act of 1978 to improve the examination of de- |
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| 19 | 19 | | pository institutions, and for other purposes. |
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| 20 | 20 | | Be it enacted by the Senate and House of Representa-1 |
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| 21 | 21 | | tives of the United States of America in Congress assembled, 2 |
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| 22 | 22 | | SECTION 1. SHORT TITLE. 3 |
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| 23 | 23 | | This Act may be cited as the ‘‘Fair Audits and In-4 |
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| 24 | 24 | | spections for Regulators’ Exams Act’’ or the ‘‘FAIR 5 |
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| 25 | 25 | | Exams Act’’. 6 |
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| 29 | 29 | | SEC. 2. TIMELINESS OF EXAMINATION REPORTS. 1 |
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| 30 | 30 | | The Federal Financial Institutions Examination 2 |
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| 31 | 31 | | Council Act of 1978 (12 U.S.C. 3301 et seq.) is amended 3 |
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| 32 | 32 | | by adding at the end the following: 4 |
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| 33 | 33 | | ‘‘SEC. 1012. TIMELINESS OF EXAMINATION REPORTS. 5 |
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| 34 | 34 | | ‘‘(a) I |
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| 35 | 35 | | NGENERAL.— 6 |
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| 36 | 36 | | ‘‘(1) F |
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| 37 | 37 | | INAL EXAMINATION REPORT .—A Federal 7 |
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| 38 | 38 | | financial institutions regulatory agency shall provide 8 |
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| 39 | 39 | | a final examination report to a financial institution 9 |
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| 40 | 40 | | not later than 60 days after the later of— 10 |
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| 41 | 41 | | ‘‘(A) the exit interview for an examination 11 |
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| 42 | 42 | | of the institution; or 12 |
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| 43 | 43 | | ‘‘(B) the provision of additional material 13 |
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| 44 | 44 | | information by the institution relating to the 14 |
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| 45 | 45 | | examination. 15 |
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| 46 | 46 | | ‘‘(2) E |
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| 47 | 47 | | XIT INTERVIEW.—If a financial institu-16 |
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| 48 | 48 | | tion is not subject to a resident examiner program, 17 |
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| 49 | 49 | | the exit interview shall occur not later than the end 18 |
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| 50 | 50 | | of the 9-month period beginning on the commence-19 |
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| 51 | 51 | | ment of the examination, except that such period 20 |
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| 52 | 52 | | may be extended by the Federal financial institu-21 |
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| 53 | 53 | | tions regulatory agency by providing written notice 22 |
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| 54 | 54 | | to the institution and the Director describing with 23 |
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| 55 | 55 | | particularity the reasons that a longer period is 24 |
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| 56 | 56 | | needed to complete the examination. 25 |
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| 60 | 60 | | ‘‘(b) EXAMINATIONMATERIALS.—Upon the request 1 |
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| 61 | 61 | | of a financial institution, the Federal financial institutions 2 |
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| 62 | 62 | | regulatory agency shall include with the final report an 3 |
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| 63 | 63 | | appendix listing all examination or other factual informa-4 |
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| 64 | 64 | | tion relied upon by the agency in support of a material 5 |
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| 65 | 65 | | supervisory determination.’’. 6 |
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| 66 | 66 | | SEC. 3. INDEPENDENT EXAMINATION REVIEW DIRECTOR. 7 |
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| 67 | 67 | | (a) I |
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| 68 | 68 | | NGENERAL.—The Federal Financial Institu-8 |
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| 69 | 69 | | tions Examination Council Act of 1978 (12 U.S.C. 3301 9 |
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| 70 | 70 | | et seq.), as amended by section 2 of this Act, is further 10 |
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| 71 | 71 | | amended by adding at the end the following: 11 |
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| 72 | 72 | | ‘‘SEC. 1013. OFFICE OF INDEPENDENT EXAMINATION RE-12 |
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| 73 | 73 | | VIEW. 13 |
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| 74 | 74 | | ‘‘(a) E |
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| 75 | 75 | | STABLISHMENT.—There is established in the 14 |
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| 76 | 76 | | Council an Office of Independent Examination Review. 15 |
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| 77 | 77 | | ‘‘(b) H |
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| 78 | 78 | | EAD OFOFFICE.—There is established the po-16 |
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| 79 | 79 | | sition of the Independent Examination Review Director, 17 |
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| 80 | 80 | | as the head of the Office of Independent Examination Re-18 |
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| 81 | 81 | | view. The Director shall be appointed by the President, 19 |
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| 82 | 82 | | by and with the advice and consent of the Senate. 20 |
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| 83 | 83 | | ‘‘(c) S |
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| 84 | 84 | | TAFFING.—The Director is authorized to hire 21 |
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| 85 | 85 | | staff to support the activities of the Office of Independent 22 |
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| 86 | 86 | | Examination Review. One-fifth of the costs and expenses 23 |
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| 87 | 87 | | of the Office, including the salaries of its employees, shall 24 |
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| 88 | 88 | | be paid by each of the Federal financial institutions regu-25 |
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| 92 | 92 | | latory agencies. Annual assessments for such share shall 1 |
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| 93 | 93 | | be levied by the Council based upon its projected budget 2 |
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| 94 | 94 | | for the year, and additional assessments may be made dur-3 |
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| 95 | 95 | | ing the year if necessary. 4 |
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| 96 | 96 | | ‘‘(d) D |
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| 97 | 97 | | UTIES.—The Director shall— 5 |
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| 98 | 98 | | ‘‘(1) receive and, at the discretion of the Direc-6 |
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| 99 | 99 | | tor, investigate complaints from financial institu-7 |
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| 100 | 100 | | tions, their representatives, or another entity acting 8 |
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| 101 | 101 | | on behalf of such institutions, concerning examina-9 |
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| 102 | 102 | | tions, examination practices, or examination reports; 10 |
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| 103 | 103 | | ‘‘(2) hold meetings, at least once every three 11 |
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| 104 | 104 | | months and in locations designed to encourage par-12 |
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| 105 | 105 | | ticipation from all sections of the United States, 13 |
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| 106 | 106 | | with financial institutions, their representatives, or 14 |
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| 107 | 107 | | another entity acting on behalf of such institutions, 15 |
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| 108 | 108 | | to discuss examination procedures, examination 16 |
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| 109 | 109 | | practices, or examination policies; 17 |
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| 110 | 110 | | ‘‘(3) review examination procedures of the Fed-18 |
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| 111 | 111 | | eral financial institutions regulatory agencies to en-19 |
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| 112 | 112 | | sure that the written examination policies of those 20 |
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| 113 | 113 | | agencies are being followed in practice and adhere to 21 |
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| 114 | 114 | | the standards for consistency, which shall be estab-22 |
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| 115 | 115 | | lished, after notice and opportunity for comment, by 23 |
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| 116 | 116 | | the Council not later than 90 days after the date of 24 |
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| 117 | 117 | | enactment of this section; 25 |
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| 121 | 121 | | ‘‘(4) conduct a continuing and regular program 1 |
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| 122 | 122 | | of examination quality assurance for all examination 2 |
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| 123 | 123 | | types conducted by the Federal financial institutions 3 |
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| 124 | 124 | | regulatory agencies; 4 |
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| 125 | 125 | | ‘‘(5) carry out an independent review of any su-5 |
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| 126 | 126 | | pervisory appeal initiated under section 1014; and 6 |
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| 127 | 127 | | ‘‘(6) report annually to the Committee on Fi-7 |
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| 128 | 128 | | nancial Services of the House of Representatives, the 8 |
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| 129 | 129 | | Committee on Banking, Housing, and Urban Affairs 9 |
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| 130 | 130 | | of the Senate, and the Council, on the reviews car-10 |
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| 131 | 131 | | ried out pursuant to paragraphs (3) and (5), includ-11 |
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| 132 | 132 | | ing compliance with the requirements set forth in 12 |
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| 133 | 133 | | section 1012 regarding timeliness of examination re-13 |
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| 134 | 134 | | ports, and the Council’s recommendations for im-14 |
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| 135 | 135 | | provements in examination procedures, practices, 15 |
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| 136 | 136 | | and policies. 16 |
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| 137 | 137 | | ‘‘(e) C |
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| 138 | 138 | | ONFIDENTIALITY.—The Director shall keep 17 |
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| 139 | 139 | | confidential all meetings, discussions, and information 18 |
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| 140 | 140 | | provided by financial institutions. The Council shall keep 19 |
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| 141 | 141 | | confidential all information and communications ex-20 |
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| 142 | 142 | | changed by a financial institution and the Office of Inde-21 |
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| 143 | 143 | | pendent Examination Review.’’. 22 |
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| 144 | 144 | | (b) D |
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| 145 | 145 | | EFINITION.—Section 1003 of the Federal Fi-23 |
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| 146 | 146 | | nancial Institutions Examination Council Act of 1978 (12 24 |
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| 147 | 147 | | U.S.C. 3302) is amended— 25 |
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| 151 | 151 | | (1) in paragraph (2), by striking ‘‘and’’ at the 1 |
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| 152 | 152 | | end; 2 |
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| 153 | 153 | | (2) in paragraph (3), by adding ‘‘and’’ at the 3 |
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| 154 | 154 | | end; and 4 |
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| 155 | 155 | | (3) by adding at the end the following: 5 |
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| 156 | 156 | | ‘‘(4) the term ‘Director’ means the Independent 6 |
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| 157 | 157 | | Examination Review Director established under sec-7 |
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| 158 | 158 | | tion 1013(b).’’. 8 |
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| 159 | 159 | | SEC. 4. RIGHT TO INDEPENDENT REVIEW OF MATERIAL SU-9 |
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| 160 | 160 | | PERVISORY DETERMINATIONS. 10 |
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| 161 | 161 | | The Federal Financial Institutions Examination 11 |
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| 162 | 162 | | Council Act of 1978 (12 U.S.C. 3301 et seq.), as amended 12 |
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| 163 | 163 | | by sections 2 and 3 of this Act, is further amended by 13 |
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| 164 | 164 | | adding at the end the following: 14 |
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| 165 | 165 | | ‘‘SEC. 1014. RIGHT TO INDEPENDENT REVIEW OF MATERIAL 15 |
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| 166 | 166 | | SUPERVISORY DETERMINATIONS. 16 |
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| 167 | 167 | | ‘‘(a) I |
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| 168 | 168 | | NGENERAL.—A financial institution shall have 17 |
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| 169 | 169 | | the right to obtain an independent review of a material 18 |
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| 170 | 170 | | supervisory determination contained in a final report of 19 |
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| 171 | 171 | | examination. 20 |
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| 172 | 172 | | ‘‘(b) N |
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| 173 | 173 | | OTICE.— 21 |
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| 174 | 174 | | ‘‘(1) T |
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| 175 | 175 | | IMING.—A financial institution seeking 22 |
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| 176 | 176 | | review of a material supervisory determination under 23 |
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| 177 | 177 | | this section shall file a written notice with the Direc-24 |
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| 180 | 180 | | •HR 940 IH |
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| 181 | 181 | | tor within 60 days after receiving the final report of 1 |
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| 182 | 182 | | examination that is the subject of such review. 2 |
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| 183 | 183 | | ‘‘(2) I |
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| 184 | 184 | | DENTIFICATION OF DETERMINATION .— 3 |
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| 185 | 185 | | The written notice shall identify the material super-4 |
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| 186 | 186 | | visory determination that is the subject of the inde-5 |
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| 187 | 187 | | pendent examination review, and a statement of the 6 |
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| 188 | 188 | | reasons why the institution believes that the deter-7 |
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| 189 | 189 | | mination is incorrect or should otherwise be modi-8 |
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| 190 | 190 | | fied. 9 |
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| 191 | 191 | | ‘‘(3) I |
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| 192 | 192 | | NFORMATION TO BE PROVIDED TO INSTI -10 |
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| 193 | 193 | | TUTION.—Any information relied upon by the agen-11 |
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| 194 | 194 | | cy in the final report that is not in the possession 12 |
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| 195 | 195 | | of the financial institution may be requested by the 13 |
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| 196 | 196 | | financial institution and shall be delivered promptly 14 |
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| 197 | 197 | | by the agency to the financial institution. 15 |
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| 198 | 198 | | ‘‘(c) R |
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| 199 | 199 | | IGHT TOHEARING.— 16 |
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| 200 | 200 | | ‘‘(1) I |
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| 201 | 201 | | N GENERAL.—The Director shall— 17 |
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| 202 | 202 | | ‘‘(A) determine the merits of the appeal on 18 |
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| 203 | 203 | | the record; or 19 |
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| 204 | 204 | | ‘‘(B) at the election of the financial institu-20 |
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| 205 | 205 | | tion, refer the appeal to an administrative law 21 |
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| 206 | 206 | | judge appointed by the Director to conduct a 22 |
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| 207 | 207 | | hearing pursuant to the procedures set forth 23 |
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| 208 | 208 | | under sections 556 and 557 of title 5, United 24 |
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| 209 | 209 | | States Code, which shall take place not later 25 |
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| 213 | 213 | | than 60 days after the petition for review is re-1 |
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| 214 | 214 | | ceived by the Director. 2 |
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| 215 | 215 | | ‘‘(2) T |
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| 216 | 216 | | IMING OF DECISION.—An administrative 3 |
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| 217 | 217 | | law judge conducting a hearing under paragraph 4 |
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| 218 | 218 | | (1)(B) shall issue a proposed decision to the Direc-5 |
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| 219 | 219 | | tor based upon the record established at the hearing. 6 |
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| 220 | 220 | | ‘‘(3) S |
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| 221 | 221 | | TANDARD OF REVIEW .—In any hearing 7 |
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| 222 | 222 | | under this subsection, neither the administrative law 8 |
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| 223 | 223 | | judge nor the Director shall defer to the opinions of 9 |
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| 224 | 224 | | the examiner or agency, but shall independently de-10 |
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| 225 | 225 | | termine the appropriateness of the agency’s decision 11 |
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| 226 | 226 | | based upon the relevant statutes, regulations, other 12 |
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| 227 | 227 | | appropriate guidance, and evidence presented at the 13 |
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| 228 | 228 | | hearing. 14 |
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| 229 | 229 | | ‘‘(d) F |
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| 230 | 230 | | INALRECOMMENDATION .—With respect to an 15 |
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| 231 | 231 | | independent review under this section, the Director shall 16 |
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| 232 | 232 | | make a final recommendation to the head of the agency 17 |
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| 233 | 233 | | whose supervisory determination was the subject of the re-18 |
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| 234 | 234 | | view not later than 60 days after the record has been 19 |
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| 235 | 235 | | closed. 20 |
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| 236 | 236 | | ‘‘(e) F |
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| 237 | 237 | | INALAGENCYDETERMINATION.—Upon re-21 |
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| 238 | 238 | | ceipt of a final recommendation of the Director under sub-22 |
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| 239 | 239 | | section (d), the head of an agency shall make a final deter-23 |
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| 240 | 240 | | mination of the agency with respect to the material super-24 |
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| 241 | 241 | | visory determination not later than the 60 days after re-25 |
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| 245 | 245 | | ceiving the recommendation of the Director. In making 1 |
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| 246 | 246 | | such final determination, the head of the agency shall give 2 |
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| 247 | 247 | | deference to the recommendation of the Director. 3 |
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| 248 | 248 | | ‘‘(f) R |
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| 249 | 249 | | IGHT TOJUDICIALREVIEW.—A financial insti-4 |
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| 250 | 250 | | tution shall have the right to petition for review of a final 5 |
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| 251 | 251 | | agency determination made under subsection (e) by filing 6 |
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| 252 | 252 | | a petition for review not later than 60 days after the date 7 |
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| 253 | 253 | | on which the decision is made in the United States Court 8 |
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| 254 | 254 | | of Appeals for the District of Columbia Circuit or the Cir-9 |
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| 255 | 255 | | cuit in which the financial institution is located. 10 |
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| 256 | 256 | | ‘‘(g) R |
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| 257 | 257 | | EPORT.—The Director shall report annually to 11 |
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| 258 | 258 | | the Committee on Financial Services of the House of Rep-12 |
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| 259 | 259 | | resentatives, the Committee on Banking, Housing, and 13 |
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| 260 | 260 | | Urban Affairs of the Senate, and the Council on actions 14 |
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| 261 | 261 | | taken under this section, including the types of issues that 15 |
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| 262 | 262 | | the Director has reviewed and the results of those reviews. 16 |
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| 263 | 263 | | In no case shall such a report contain information about 17 |
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| 264 | 264 | | individual financial institutions or any confidential or priv-18 |
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| 265 | 265 | | ileged information shared by financial institutions. 19 |
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| 266 | 266 | | ‘‘(h) R |
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| 267 | 267 | | ETALIATIONPROHIBITED.— 20 |
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| 268 | 268 | | ‘‘(1) I |
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| 269 | 269 | | N GENERAL.—A Federal financial institu-21 |
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| 270 | 270 | | tions regulatory agency may not— 22 |
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| 271 | 271 | | ‘‘(A) retaliate against a financial institu-23 |
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| 272 | 272 | | tion, including service providers, or any institu-24 |
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| 276 | 276 | | tion-affiliated party, for exercising appellate 1 |
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| 277 | 277 | | rights under this section; or 2 |
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| 278 | 278 | | ‘‘(B) delay or deny any agency action that 3 |
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| 279 | 279 | | would benefit a financial institution or any in-4 |
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| 280 | 280 | | stitution-affiliated party on the basis that an 5 |
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| 281 | 281 | | appeal under this section is pending under this 6 |
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| 282 | 282 | | section. 7 |
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| 283 | 283 | | ‘‘(2) R |
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| 284 | 284 | | ETALIATION.—For purposes of this sub-8 |
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| 285 | 285 | | section, retaliation includes delaying consideration 9 |
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| 286 | 286 | | of, or withholding approval of, any request, notice, 10 |
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| 287 | 287 | | or application that otherwise would have been ap-11 |
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| 288 | 288 | | proved, but for the exercise of a financial institu-12 |
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| 289 | 289 | | tion’s rights under this section.’’. 13 |
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| 290 | 290 | | SEC. 5. ADDITIONAL AMENDMENTS. 14 |
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| 291 | 291 | | (a) R |
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| 292 | 292 | | EGULATORAPPEALSPROCESS, OMBUDSMAN, 15 |
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| 293 | 293 | | ANDALTERNATIVEDISPUTERESOLUTION.— 16 |
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| 294 | 294 | | (1) I |
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| 295 | 295 | | N GENERAL.—Section 309 of the Riegle 17 |
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| 296 | 296 | | Community Development and Regulatory Improve-18 |
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| 297 | 297 | | ment Act of 1994 (12 U.S.C. 4806) is amended— 19 |
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| 298 | 298 | | (A) in the heading, by striking ‘‘ |
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| 299 | 299 | | REGU-20 |
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| 300 | 300 | | LATORY APPEALS PROCESS , OMBUDS-21 |
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| 301 | 301 | | MAN,’’ and inserting ‘‘OMBUDSMAN ’’; 22 |
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| 302 | 302 | | (B) by striking subsections (a), (b), and 23 |
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| 303 | 303 | | (c); 24 |
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| 307 | 307 | | (C) by redesignating subsections (d), (e), 1 |
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| 308 | 308 | | (f), and (g) as subsections (a), (b), (c), and (d), 2 |
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| 309 | 309 | | respectively; and 3 |
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| 310 | 310 | | (D) in subsection (b), as so redesignated— 4 |
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| 311 | 311 | | (i) in paragraph (2)— 5 |
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| 312 | 312 | | (I) in subparagraph (B), by 6 |
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| 313 | 313 | | striking ‘‘and’’ at the end; 7 |
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| 314 | 314 | | (II) in subparagraph (C), by 8 |
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| 315 | 315 | | striking the period and inserting ‘‘; 9 |
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| 316 | 316 | | and’’; and 10 |
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| 317 | 317 | | (III) by adding at the end the 11 |
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| 318 | 318 | | following: 12 |
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| 319 | 319 | | ‘‘(D) ensure that appropriate safeguards 13 |
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| 320 | 320 | | exist for protecting any party from retaliation 14 |
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| 321 | 321 | | by any agency for exercising rights under this 15 |
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| 322 | 322 | | subsection.’’; and 16 |
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| 323 | 323 | | (ii) by adding at the end the fol-17 |
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| 324 | 324 | | lowing: 18 |
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| 325 | 325 | | ‘‘(6) R |
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| 326 | 326 | | ETALIATION.—For purposes of this sub-19 |
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| 327 | 327 | | section, retaliation includes delaying consideration 20 |
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| 328 | 328 | | of, or withholding approval of, any request, notice, 21 |
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| 329 | 329 | | or application that otherwise would have been ap-22 |
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| 330 | 330 | | proved, but for the exercise of a financial institu-23 |
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| 331 | 331 | | tion’s rights under this section.’’. 24 |
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| 334 | 334 | | •HR 940 IH |
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| 335 | 335 | | (E) in paragraph (1)(A) of subsection (c), 1 |
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| 336 | 336 | | as so redesignated— 2 |
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| 337 | 337 | | (i) in clause (ii), by striking ‘‘; and’’ 3 |
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| 338 | 338 | | and inserting a semicolon; 4 |
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| 339 | 339 | | (ii) in clause (iii), by striking ‘‘; and’’ 5 |
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| 340 | 340 | | and inserting a semicolon; and 6 |
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| 341 | 341 | | (iii) by adding at the end the fol-7 |
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| 342 | 342 | | lowing: 8 |
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| 343 | 343 | | ‘‘(iv) any issue specifically listed in an 9 |
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| 344 | 344 | | exam report as a matter requiring atten-10 |
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| 345 | 345 | | tion by the institution’s management or 11 |
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| 346 | 346 | | board of directors; and 12 |
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| 347 | 347 | | ‘‘(v) any suspension or removal of an 13 |
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| 348 | 348 | | institution’s status as eligible for expedited 14 |
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| 349 | 349 | | processing of applications, requests, no-15 |
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| 350 | 350 | | tices, or filings on the grounds of a super-16 |
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| 351 | 351 | | visory or compliance concern, regardless of 17 |
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| 352 | 352 | | whether that concern has been cited as a 18 |
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| 353 | 353 | | basis for a material supervisory determina-19 |
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| 354 | 354 | | tion or matter requiring attention in an ex-20 |
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| 355 | 355 | | amination report, provided that the con-21 |
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| 356 | 356 | | duct at issue did not involve violation of 22 |
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| 357 | 357 | | any criminal law; and’’. 23 |
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| 358 | 358 | | (2) E |
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| 359 | 359 | | FFECT.—Nothing in this subsection af-24 |
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| 360 | 360 | | fects the authority of an appropriate Federal bank-25 |
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| 362 | 362 | | ssavage on LAPJG3WLY3PROD with BILLS 13 |
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| 363 | 363 | | •HR 940 IH |
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| 364 | 364 | | ing agency or the National Credit Union Adminis-1 |
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| 365 | 365 | | tration Board to take enforcement or other super-2 |
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| 366 | 366 | | visory action. 3 |
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| 367 | 367 | | (b) F |
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| 368 | 368 | | EDERALCREDITUNIONACT.—Section 205(j) 4 |
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| 369 | 369 | | of the Federal Credit Union Act (12 U.S.C. 1785(j)) is 5 |
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| 370 | 370 | | amended by inserting ‘‘the Bureau of Consumer Financial 6 |
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| 371 | 371 | | Protection,’’ before ‘‘the Administration’’ each place that 7 |
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| 372 | 372 | | term appears. 8 |
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| 373 | 373 | | (c) F |
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| 374 | 374 | | EDERALFINANCIALINSTITUTIONSEXAMINA-9 |
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| 375 | 375 | | TIONCOUNCILACT.—The Federal Financial Institutions 10 |
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| 376 | 376 | | Examination Council Act of 1978 (12 U.S.C. 3301 et 11 |
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| 377 | 377 | | seq.), as amended by sections 2 through 4 of this Act, 12 |
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| 378 | 378 | | is further amended— 13 |
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| 379 | 379 | | (1) in section 1003 (12 U.S.C. 3302) by strik-14 |
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| 380 | 380 | | ing paragraph (1) and inserting the following: 15 |
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| 381 | 381 | | ‘‘(1) the term ‘Federal financial institutions 16 |
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| 382 | 382 | | regulatory agencies’— 17 |
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| 383 | 383 | | ‘‘(A) means the Office of the Comptroller 18 |
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| 384 | 384 | | of the Currency, the Board of Governors of the 19 |
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| 385 | 385 | | Federal Reserve System, the Federal Deposit 20 |
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| 386 | 386 | | Insurance Corporation, and the National Credit 21 |
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| 387 | 387 | | Union Administration; and 22 |
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| 388 | 388 | | ‘‘(B) includes the Bureau of Consumer Fi-23 |
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| 389 | 389 | | nancial Protection for purposes of sections 24 |
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| 390 | 390 | | 1012 through 1014;’’; 25 |
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| 392 | 392 | | ssavage on LAPJG3WLY3PROD with BILLS 14 |
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| 393 | 393 | | •HR 940 IH |
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| 394 | 394 | | (2) in section 1004(a)(4) (12 U.S.C. 3303), by 1 |
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| 395 | 395 | | striking ‘‘Consumer Financial Protection Bureau’’ 2 |
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| 396 | 396 | | and inserting ‘‘Bureau of Consumer Financial Pro-3 |
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| 397 | 397 | | tection’’; and 4 |
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| 398 | 398 | | (3) in section 1005 (12 U.S.C. 3304)— 5 |
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| 399 | 399 | | (A) by striking ‘‘One-fifth’’ and inserting 6 |
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| 400 | 400 | | ‘‘One-fourth’’; and 7 |
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| 401 | 401 | | (B) by inserting ‘‘described under section 8 |
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| 402 | 402 | | 1003(1)(A)’’ after ‘‘agencies’’. 9 |
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| 403 | 403 | | Æ |
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| 404 | 404 | | VerDate Sep 11 2014 16:38 Mar 03, 2025 Jkt 059200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6301 E:\BILLS\H940.IH H940 |
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| 405 | 405 | | ssavage on LAPJG3WLY3PROD with BILLS |
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