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H.R. 940119th CongressPlaced on the calendarLatest action Jul 25, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The FAIR Exams Act sets exam deadlines and creates an independent office for banks to appeal regulator findings.
35-second read · 4 questions answered below
HR 940 requires bank regulators to finish exit interviews within 9 months of starting an exam and issue final reports within 60 days after. It creates an Office of Examination Review to handle complaints, oversee consistency, and run appeals, including hearings before an administrative judge, and bars retaliation against banks that appeal.
Affects banks, credit unions, and regulators including the FDIC, Federal Reserve, OCC, and CFPB.
The changes could alter how quickly and predictably exams are resolved, potentially affecting compliance costs and how bank-regulator disputes are settled, though it does not directly change consumer-facing rules.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it was placed on the House floor calendar, and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 176.