Congress·Reported·H.R. 940

FAIR Exams Act

Banking: New Rules for Bank Audits and Appeals

Jul 25, 2025·View on Congress.gov·Read full text

Next up: The HouseNo action in 11 months

The FAIR Exams Act has been reported by the House Committee on Financial Services and is now waiting for a vote on the House floor. Nothing has happened with this bill since July 2025, which means it has been stalled for about 11 months. Because floor time is limited, the House leadership must decide to schedule a vote for the bill to move forward.

Legislative Progress

House

Senate

President

Law

Could go either way

The bill has support from both parties and has already cleared a major committee. It still needs to pass the full House and find a path through the Senate.

Key Points

This bill sets a strict 270-day deadline for federal agencies to finish auditing a bank. Currently, these reviews can drag on for a long time, which makes it hard for banks to plan for the future.
It creates a new independent office with three members appointed by the president. This office will listen to complaints from banks that feel they were treated unfairly by government regulators.
Banks will have the right to appeal bad grades or negative findings from an audit. An independent board will review the case from scratch instead of just taking the regulator's word for it.
The bill also requires government agencies to give banks clear answers about rules and laws within 60 days. This helps banks understand exactly what they are allowed to do without waiting months for a response.
To protect banks, the law would strictly forbid government agencies from getting back at a bank for filing an appeal. This includes things like intentionally delaying other paperwork as a form of punishment.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

3 milestones6 actions

Jul 25, 2025House

Placed on the Union Calendar, Calendar No. 176.

The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.

Jul 25, 2025House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-216.

May 21, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 17.

The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.

May 21, 2025House

Committee Consideration and Mark-up Session Held

Feb 4, 2025House

Referred to the House Committee on Financial Services.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

FAIR Exams Act

Bill NumberHR 940

Congress119th Congress

ChamberHouse of Representatives

Latest ActionPlaced on the Union Calendar, Calendar No. 176.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(10)

D: 2R: 8

Analysis generated by AI. Always verify with official sources.