Regulatory relief bills pass House Financial Services Committee

May 22, 2025

The House Financial Services Committee advanced five America’s Credit Unions-supported bills at the close of a two-day markup Wednesday. America’s Credit Unions President/CEO Jim Nussle wrote in support of the bills prior to the committee’s actions.

The bills advanced by the committee are:

  • The Fair Audits and Inspections for Regulators (FAIR) Exams Act (H.R. 940), which would amend the Federal Financial Institutions Examinations Council (FFIEC) Act to authorize financial institutions to seek a prompt, independent review of a “Material Supervisory Determination” (MSD) from a regulatory examination.
  • The Financial Integrity and Regulation Management (FIRM) Act (H.R. 2702), to remove the practice of “reputational risk” as a criteria for examiners as a component of supervision of depository institutions;
  • The Financial Institution Regulatory Tailoring Enhancement Act (H.R. 3230), which would increase the asset threshold to $50 billion (from the current $10 billion) for financial institutions to be subject to several regulatory requirements;
  • The Halting Uncertain Methods and Practices in Supervision (HUMPS) Act (H.R. 3379), to require the FFIEC to develop formal recommendations to ensure the CAMELS rating system is appropriately focused on institutions’ financial condition; and
  • The Taking Account of Institutions with Low Operating Risk (TAILOR) Act (H.R. 3380), which would ensure financial regulators consider the aggregate impact that new rules pose to institutions in context with existing regulations.