The FDIC board of directors approved amendments to its Guidelines for Appeals of Material Supervisory Determinations, which includes replacing its Supervision Appeals Review Committee with the Office of Supervisory Appeals.
Details: The FDIC said the Office of Supervisory Appeals will be:
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An independent, standalone office within the FDIC.
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The final level of review of material supervisory determinations, independent of the divisions that make supervisory determinations.
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Staffed by reviewing officials who are hired externally, with each panel including at least one reviewing official with bank supervisory experience and at least one with industry experience.
Background: The FDIC in July proposed amending its guidelines for appealing material supervisory determinations to make the process more independent given the Supervision Appeals Review Committee is typically composed of FDIC board members and other senior FDIC officials.
ICBA View: ICBA in September said it preferred a Federal Financial Institutions Examination Council appeals office but supported the proposed enhancements to the FDIC’s internal supervisory appeals process. ICBA also said the FDIC should ensure that reviewers have significant community banking experience.