The FDIC's New Appeals Process Is Officially In Effect

On December 6, 2021, the FDIC issued a Financial Institution Letter (FIL) (FIL-77-2021) announcing that the FDIC's Office of Supervisory Appeals is now fully operational, and that the revised Guidelines for Appeals of Material Supervisory Determinations (Guidelines) are fully in effect.¹ It remains to be seen whether insured depository institutions (IDIs) will bring more appeals as a result of these changes, but the FDIC has clearly sought to address industry criticisms and create a fairer, more independent appeals process.

Background

Under Section 309(a) of the Riegle Community Development and Regulatory Improvement Act of 1994, the FDIC is required to maintain an independent intra-agency appeals process to allow IDIs to appeal adverse material supervisory determinations.