Financial Institutions Due Process Act of 2017
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Financial Institutions Due Process Act of 2017
This bill amends the Federal Financial Institutions Examination Council Act of 1978 to establish an Independent Examination Review Panel. The panel shall have exclusive jurisdiction of an appeal of a final material supervisory determination of a federal financial institutions regulatory agency.
A financial institution may request from a federal financial institutions regulatory agency a written determination of the agency's: (1) permission to take an action, and (2) interpretation of a law or regulation. An agency must respond to such a request within a specified timeframe.
The bill also establishes timeframes within which a federal financial institutions regulatory agency must: (1) conduct an exit interview with respect to the examination of a financial institution, and (2) provide a final examination report.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on February 7, 2017. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on July 12, 2017: Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 115th Congress (2017-18), 442 of the 11,421 bills and joint resolutions introduced became law, about 3.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Keith Rothfus (R-PA) introduced it on February 7, 2017, and 1 member has since signed on as a cosponsor.
They are 1 Republican.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on February 7, 2017, 3502 days ago. The most recent recorded action was 3347 days ago, on July 12, 2017.
Measures do not carry over. Anything the 115th Congress has not finished by January 3, 2019 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers