Sec. 2. Timeliness of examinations and examination reports
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The Federal Financial Institutions Examination Council Act of 1978 ( 12 U.S.C. 3301 et seq. ) is amended by adding at the end the following: A Federal financial institutions regulatory agency shall complete any examination of a financial institution within 270 days of commencing the examination, except that such period may be extended by the Federal financial institutions regulatory agency by providing written notice to the financial institution describing with particularity the reasons that a longer period is needed.
A Federal financial institutions regulatory agency shall provide a final examination report to a financial institution not later than 90 days after the later of— the exit interview for an examination of the institution; or the provision of additional material information by the institution relating to the examination. Within 30 days of completing an examination, a Federal financial institutions regulatory agency shall conduct an exit interview with the financial institution’s senior management, except that such period may be extended by the Federal financial institutions regulatory agency by providing written notice to the institution and the Board describing with particularity the reasons that a longer period is needed to complete the exit interview.
Upon the request of a financial institution, the Federal financial institutions regulatory agency shall include with the final report an appendix listing all examination or other factual information relied upon by the agency in support of a material supervisory determination. .
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Sec. 2
Timeliness of examinations and examination reports
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