FDIC Proposes Changes to Its Supervisory Appeals Process — 2020-08-21

Seeks Comments by October 20, 2020 WASHINGTON – The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today approved a proposal to amend its Guidelines for Appeals of Material Supervisory Determinations. The most significant change in the proposal would be to replace the current Supervision Appeals Review Committee (SARC) with an independent, standalone Office of Supervisory Appeals (Office) within the FDIC. "The proposal seeks to establish a fair, independent process for a bank to appeal material supervisory decisions. Such an appeals process is key to promoting consistency among examiners across the country, ensuring accountability at the agency, and ultimately, maintaining stability and public confidence in the nation's financial system," said FDIC Chairman Jelena McWilliams. The Office would have final authority to resolve appeals and would be independent within the FDIC organizational structure. The Office would be staffed by individuals with bank supervisory or examination experience.