📋 Tender Overview
The Board of Directors of the Federal Deposit Insurance Corporation FDIC 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 nations 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. To further promote its independence the FDIC would recruit externally to staff the Office.If the changes are adopted an institution unable to resolve a disagreement regarding a material supervisory determination with the examiner or the appropriate Regional Office or Division Director would be able to appeal that determination to the Office.Changes to the supervisory appeals process are being proposed in part based on outreach sessions the FDICs Ombudsman held with bankers and other interested parties in the fall of 2019. The FDIC believes that the creation of the proposed Office would promote independence and help alleviate perceived conflicts of interest among other important goals.Currently the SARC is comprised of three voting members an inside FDIC Board member who serves as the Committees chairman and a deputy or special assistant to each of the other two inside FDIC Board members who are not designated as the SARC Chairman.Comments will be accepted through October 20 2020.
