Examination Fairness Bill Includes Missouri Cosponsors
Missouri members of Congress have cosponsored legislation that would provide regulatory relief and an opportunity for credit unions to address concerns with examinations.
S. 727 and H.R. 1553, the Examination Fairness Bill, were both introduced on April 15. Missouri U.S. Representatives Ann Wagner (R-District 2) and Blaine Luetkemeyer (R-District 3) are original cosponsors of the House bill. Both Wagner and Luetkemeyer serve on the House Financial Services Committee. The Missouri Credit Union Association is working to add more Missouri cosponsors to the bill.
The examination fairness bills would:
- Make available to financial institutions the information used to make decisions in their examination;
- Codify certain examination policy guidance;
- Establish an ombudsman at the Federal Financial Institution Examination Council to which financial institutions could raise concerns with respect to their examination.
Photos: (Top) U.S. Rep. Blaine Luetkemeyer (R-District 3), U.S. Rep. Ann Wagner (R-District 2)