U S Chamber Supports S 3541 Sen Banking Final


April 05, 2024


Dear Chairman Brown and Ranking Member Scott:

 The U.S. Chamber of Commerce supports S. 3541, the “Fair Audits and Inspections for Regulators’ Exam Act,” which would establish an even-handed supervisory process to enhance accountability in bank examinations.

 The legislation would require examination reports to be issued in a more timely manner and establish an independent review and appeal process to mediate differences between banks and their regulators. Importantly, the legislation would establish a new Office of Independent Examination Review within the Federal Financial Institutions Examination Council that would provide a much-needed avenue for impartial adjudication of material supervisory determinations included in final examination reports.

 We urge your Committee to expeditiously report this important legislation.

U S Chamber Supports S 3541 Sen Banking Final