On July 15, the FDIC Board approved a proposal to amend the FDIC’s Guidelines for Appeals of Material Supervisory Determinations by replacing the existing Supervision Appeals Review Committee with an independent office within the FDIC — the Office of Supervisory Appeals. Originally created in January 2021, the FDIC created the Office of Supervisory Appeals but revised those guidelines in May 2022 to have the Supervision Appeals Review Committee as the final review authority (covered by InfoBytes here). The FDIC now believes the Office of Supervisory Appeals should be reinstated.
The Riegle Community Development and Regulatory Improvement Act of 1994 requires the FDIC to establish an independent intra-agency appellate process to review supervisory determinations made at banks while supervised by the FDIC. The FDIC now seeks to reinstate the Office to enhance the independence and expertise of the appeals process, address stakeholder concerns, and ensure that appeals are reviewed by individuals with deep banking and supervisory experience, while maintaining compliance with statutory requirements.
[View source.]
