Description:
H.R. 1941 would establish the Office of Independent Examination Review within the Federal Financial Institutions Examination Council (FFIEC). The council would investigate complaints from financial institutions about examinations, conduct regular reviews of the quality of examinations, and adjudicate appeals of determinations made as part of an examination. The bill also would prohibit financial regulators from classifying certain commercial loans as non-performing and from requiring certain banks to raise more capital to cover the potential losses from those loans.
CBO estimates that enacting H.R. 1941 would increase net direct spending by $192 million and reduce revenues by $40 million over the 2016-2026 period; therefore, pay-as-you-go procedures apply. In total, CBO estimates that enacting H.R. 1941 would increase budget deficits by $232 million over the 2016-2026 period. Implementing H.R. 1941 would not affect spending subject to appropriation.
CBO estimates that enacting the legislation would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2027.
H.R. 1941 contains no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA).
H.R. 1941 could increase the cost of an existing mandate on private entities required to pay fees. Based on information from the affected agencies, CBO estimates that the incremental cost of the mandate would fall well below the annual threshold for private-sector mandates established in UMRA ($154 million in 2016, adjusted annually for inflation).
