ICBA expressed support for legislation scheduled to be marked up today that would improve the exam environment by creating a workable appeals process.
Introduced by Reps. Scott Tipton (R-Colo.) and Carolyn Maloney (D-N.Y.), the Financial Institutions Examination Fairness and Reform Act (H.R. 4545) would create an Office of Independent Examination Review and give financial institutions a right to an expedited review of material supervisory determinations.
In a letter to the House Financial Services Committee ahead of today’s markup, ICBA also said it opposes legislation that would repeal the National Credit Union Administration’s risk-based capital rule for credit unions.
ICBA said Rep. Bill Posey’s (R-Fla.) Common Sense Credit Union Capital Relief Act (H.R. 4464) runs counter to ICBA’s push for comparable regulatory capital requirements for community banks and tax-exempt credit unions.