FDIC Updates Guidelines For Appeals Of Material Supervisory Determinations

On May 17, the Federal Deposit Insurance Corporation ("FDIC") issued Financial Institutions Letter 22-2022 updating the FDIC's Guidelines for Appeals of Material Supervisory Determinations. The revised Guidelines restore the Supervision Appeals Review Committee ("SARC") as the final level of review in the agency's supervisory appeals process. The SARC had previously been the final level of review until the FDIC established the Office of Supervisory Appeals in 2021. The revised Guidelines took effect May 17, 2022, but the FDIC is soliciting comment on the revised Guidelines with a comment period of 30 days.

The membership of the SARC will be similar to how it was composed before 2021. The SARC will include: one inside member (i.e., not the Comptroller of the Currency or CFPB Director) of the FDIC's Board of Directors (serving as Chairperson); a deputy or special assistant to each of the other inside Board members; and the FDIC General Counsel as a non-voting