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The FDIC established a new Office of Supervisory Appeals to "consider and decide appeals of material supervisory determinations." The new Office replaces the Supervision Appeals Review Committee and is intended to enhance the independence of the appeals process and ensure accountability in the examination process.
The Office will operate under the FDIC's January 2021 Revised Guidelines for Appeals of Material Supervisory Determinations, which, among other things,
- enables a Division Director to "make an independent supervisory determination without deferring to the judgments of either party";
- mandate that communications between the Office and supervisory staff of either party to an appeal or the appealing institution be accessible to the other party to the appeal;
- enable institutions to request that the Office expedite review of their appeals; and
- update the process and timeframes for when a determination relied upon by a formal enforcement-related action can be appealed.
(See also, Revised Guidelines Summary).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
