US HB3379

Requires the Federal Financial Institutions Examination Council to recommend amendments to the CAMELS rating system (Capital adequacy, Asset quality, Management, Earnings, Liquidity, Sensitivity to market risk) establishing clear, objective criteria for each component

Mandates either elimination of the management component from CAMELS ratings or revision to limit it to objective measures of governance and risk management controls

Requires federal financial regulatory agencies to jointly issue implementing rules within 12 months of receiving Council recommendations, with a minimum 90-day public comment period

Amends the "well managed" definition in the Bank Holding Company Act to remove the separate management rating requirement, basing the determination solely on composite CAMEL ratings

Preserves regulatory authority to take supervisory and enforcement actions for safety and soundness regardless of the CAMELS reforms