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Faster Bank Supervision and New Appeals Process for Financial Institutions.

This law sets strict deadlines for bank and credit union examinations, aiming to increase supervisory efficiency. It also establishes an independent appeals system allowing institutions to challenge regulatory decisions. This is intended to enhance the transparency and stability of the financial system, thereby protecting citizens' savings.
Key points
Supervisory agencies must complete bank and credit union examinations within 270 days and provide the final report within 60 days.
Independent expert panels are created to review appeals from financial institutions regarding material supervisory determinations.
A 60-day time limit is imposed on regulators to respond to banks' requests for interpretation of rules and regulations.
If a bank failure causes a material loss, the FDIC Inspector General must review whether the loss could have been avoided.
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Expired
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Additional Information
Print number: 118_HR_8264
Sponsor: Rep. Barr, Andy [R-KY-6]
Process start date: 2024-05-07
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Bank Supervision Appeals Improvement Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_8264.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-07.

What are the main provisions?

Key points include:

  • Supervisory agencies must complete bank and credit union examinations within 270 days and provide the final report within 60 days.
  • Independent expert panels are created to review appeals from financial institutions regarding material supervisory determinations.
  • A 60-day time limit is imposed on regulators to respond to banks' requests for interpretation of rules and regulations.
  • If a bank failure causes a material loss, the FDIC Inspector General must review whether the loss could have been avoided.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Barr, Andy [R-KY-6].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Courts and Law