FDIC Establishes Supervisory Appeals Office – Corporate/Commercial Law

United States:

FDIC establishes supervisory complaints office

December 13, 2021

Cadwalader, Wickersham & Taft LLP

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The FDIC established a new Regulatory Complaint Bureau to “examine and resolve appeals against material regulatory decisions.” The new office replaces the examination board for supervisory complaints procedures and aims to strengthen the independence of the complaints procedure and ensure accountability in the examination procedure.

The Office will operate under the FDIC’s January 2021 revised guidelines for appeals against material regulatory decisions, including:

• enables a department head to “make an independent supervisory decision without relying on the judgments of either party”;
• order that the communication between the Office and the supervisory staff of one of the complaining parties or the complainant of the other complaining party is accessible;
• Allow institutions to request that the Office expedite the investigation of their complaints; and
• Updating the procedure and deadlines for appealing a decision on which a formal enforcement measure is based.

(See also the summary of the revised guidelines).

The content of this article is intended to provide general guidance on the subject. Expert advice should be sought regarding your specific circumstances.

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