By Godson Umejiego, Correspondent USA
On December 6, 2021, the FDIC’s new Office of Supervisory Appeals became fully operational and will begin to consider and decide appeals of material supervisory determinations. The new Office will enhance the independence of the FDIC’s supervisory appeals process and further the FDIC’s goal of ensuring consistency and accountability in the examination process.
Highlights:
On January 19, 2021, the FDIC’s Board of Directors approved new Guidelines for Appeals of Material Supervisory Determinations (Guidelines), including the establishment of an Office of Supervisory Appeals to consider and decide appeals.
The FDIC stated that a transition period would be necessary to staff the new Office and implement the new Guidelines.
The Office is now staffed and ready to begin reviewing and deciding appeals of material supervisory determinations and replace the existing Supervision Appeals Review Committee.
In addition, the Guidelines for Appeals of Material Supervisory Determinations previously approved by the Board of Directors has taken effect.
