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April 22, 2015
Westmoreland, Maloney offer NAFCU-supported exam fairness bill
Reps. Lynn Westmoreland, R-Ga., and Carolyn Maloney, D-N.Y., on Wednesday introduced bipartisan legislation backed by NAFCU that would set standards for examination fairness for NCUA and other federal financial institution regulators.
H.R. 1941, the "Financial Institutions Examination Fairness and Reform Act," is identical to legislation introduced last year by Sens. Jerry Moran, R-Kan., and Joe Manchin, D-W.Va. The measure calls for clear guidance from regulators, consistency from exam to exam, timeliness of reported exam results and an independent appeals process free of examiner retaliation.
NAFCU Vice President of Legislative Affairs Brad Thaler thanked Reps. Westmoreland and Maloney. "We look forward to working with lawmakers and their staffs to advance this important step to ensure the exam process is both effective and fair," he said.
H.R. 1941, the "Financial Institutions Examination Fairness and Reform Act," is identical to legislation introduced last year by Sens. Jerry Moran, R-Kan., and Joe Manchin, D-W.Va. The measure calls for clear guidance from regulators, consistency from exam to exam, timeliness of reported exam results and an independent appeals process free of examiner retaliation.
NAFCU Vice President of Legislative Affairs Brad Thaler thanked Reps. Westmoreland and Maloney. "We look forward to working with lawmakers and their staffs to advance this important step to ensure the exam process is both effective and fair," he said.
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