H.R. 940, known as the “FAIR Exams Act,” aims to enhance the process of examining depository institutions under the Federal Financial Institutions Examination Council Act of 1978. It introduces strict timelines for delivering examination reports and establishes an Office of Independent...
Simple Explanation
H.R. 940 is called the "FAIR Exams Act," and it wants to make sure banks get checked on time and fairly, allowing them to ask for a second opinion if they think something is wrong, and making sure they don’t get in trouble for speaking up.