The following letter was sent to each member of the Oklahoma Delegation in the U.S. House of Representatives:
December 13, 2017
The Honorable Markwayne Mullin
United States Congressman
1113 Longworth House Office Building
Washington, D.C. 20515
RE: H.R. 4545
On behalf of the bankers across Oklahoma – both large and small – we ask for your support of H.R. 4545, the Financial Institution’s Examination Fairness and Reform Act. As you know, the Oklahoma Bankers Association has supported this concept since it was officially introduced in the 113th Congress.
I know you understand how important the concept of due process is to all of us, and that’s essentially what this bill provides for banks and credit unions. We understand the importance of regulatory examinations as part of a safe and sound banking system. We also understand banks and credit unions must be compliant with the rules and regulations intended to ensure they operate properly.
There are times when an examination results in honest and reasonable disagreement about whether a proposed regulatory conclusion or finding is correct. But today, Oklahoma banks simply do not have access to due process in such a situation: a review by an independent third party who will review a banker’s complaint in animpartial manner.
H.R. 4545 creates such a process. It gives banks and credit unions the opportunity to pursue such a review by an Independent Examination Review Director. The process created by this bill is necessary, it’s reasonable and it’s fundamental to all Oklahoma banks and credit unions, especially in the current banking environment.
On behalf of the $115 Billion banking industry in Oklahoma and its 24,000 employees, we ask that you support and co-sponsor H.R. 4545.