House bill takes aim at over- zealous regulators

Yet another bill aimed at relieving some of the strain felt by community banks and small businesses is circulating in Congress, though regulators, unsurprisingly, think it’s unnecessary.

H.R. 3461, or the Financial Institutions Examination Fairness and Reform Act, was introduced in the House in November by Republican Rep. Shelley Capito of West Virginia. Since then, our very own 4th Congressional District Rep. Cory Gardner has added his name to the legislation.

This bill would make a number of changes, including the creation of an Office of Examination Ombudsman to serve as an intermediary…