FAIR Exams Act

Hozzl · 2025-08-09T18:41:14Z

Explore the details of House Bill 940 FAIR Exams Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

8/9/2025, 6:41 PM

Summary of Bill HR 940

Bill 119 HR 940, also known as the "Federal Financial Institutions Examination Council Improvement Act of 2021," aims to enhance the examination process of depository institutions in the United States. The bill seeks to amend the Federal Financial Institutions Examination Council Act of 1978 in order to improve the oversight and regulation of these financial institutions.

The main goal of the bill is to strengthen the examination procedures for depository institutions, such as banks and credit unions, in order to ensure their financial stability and compliance with federal regulations. This includes enhancing the coordination and communication among the various regulatory agencies that oversee these institutions.

Additionally, the bill includes provisions to enhance the training and qualifications of examiners, as well as improve the examination process itself to make it more efficient and effective. The bill also aims to increase transparency and accountability in the examination process, ensuring that depository institutions are held to high standards of financial responsibility. Overall, Bill 119 HR 940 seeks to modernize and improve the examination process for depository institutions in order to better protect consumers and maintain the stability of the financial system in the United States.

Congressional Summary of HR 940

Fair Audits and Inspections for Regulators’ Exams Act or the FAIR Exams Act

This bill establishes new procedures related to the federal examination of financial intuitions. Specifically, the bill establishes the Office of Independent Examination Review within the Federal Financial Institutions Examination Council to adjudicate appeals and investigate complaints from financial institutions concerning examination reports. Under the bill, financial institutions have the right to obtain an independent review of a material supervisory determination contained in a final report of examination. The bill sets forth provisions regarding hearings and final decisions.

The bill also sets deadlines for federal financial regulatory agencies to provide final examination reports and to perform exit interviews of a financial institution. In addition, the agency must list all materials relied upon in support of a material supervisory determination upon the request of the financial institution.

Read the Full Bill

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Current Status of Bill HR 940

Bill HR 940 is currently in the status of Bill Introduced since February 4, 2025. Bill HR 940 was introduced during Congress 119 and was introduced to the House on February 4, 2025. Bill HR 940's most recent activity was Placed on the Union Calendar, Calendar No. 176. as of July 25, 2025

Bipartisan Support of Bill HR 940

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 940

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 940

To amend the Federal Financial Institutions Examination Council Act of 1978 to improve the examination of depository institutions, and for other purposes.

Comments

Noemi Hsu

471

9 months ago

I don't like this bill, it's gonna mess everything up for me and my family. I don't know why they're doing this, it's just gonna make things worse. #confused #notcool