Appeals of material supervisory determinations are now being considered by the new office of supervisory appeals for the federal insurer of bank deposits, the agency said Monday, adding the new group will enhance its independence.
According to a financial institution letter (FIL-77-2021) issued by the Federal Deposit Insurance Corp. (FDIC), the new office became fully operational Monday and is now “staffed and ready to begin reviewing and deciding appeals of material supervisory determinations” and to replace the agency’s supervision appeals review committee.
“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,” the agency said.
The FDIC announced the creation of the office in January, stating then that a “transition period” would be needed to staff the new office and apply new guidelines for appeals of supervisory determinations (also released at the beginning of the year).
FDIC FIL-77-2021: FDIC Launches Office of Supervisory Appeals