H.R. 4545 would establish the Office of Independent Examination Review within the Federal Financial Institutions Examination Council (FFIEC). The new office would investigate complaints from financial institutions about examinations, regularly review the quality of examinations, and adjudicate appeals of determinations made within examinations.
CBO estimates that enacting H.R. 4545 would increase net direct spending by $82 million and reduce revenues by $41 million over the 2018-2027 period. In total, CBO estimates, enacting H.R. 4545 would increase budget deficits by $123 million over the 2018-2027 period. Implementing H.R. 4545 would not affect spending subject to appropriation.
Because enacting the bill would affect direct spending and revenues, pay-as-you-go procedures apply.
CBO estimates that enacting H.R. 4545 would not increase net direct spending or on-budget deficits by more than $2.5 billion in any of the four consecutive 10-year periods beginning in 2028.
H.R. 4545 contains no intergovernmental mandates as defined in the Unfunded Mandates Reform Act (UMRA). If financial regulators increase fees to offset some of the costs of implementing the bill, H.R. 4545 would increase the cost of an existing mandate on private entities required to pay those fees. Using information from the affected agencies, CBO estimates that the incremental cost of the mandate would fall well below the annual threshold for private-sector mandates established in UMRA ($156 million in 2017, adjusted annually for inflation).