Federal Deposit Insurance Corporation board replaces the Supervision Appeals Review Committee with an independent Office of Supervisory Appeals

The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved amendments to the agency’s Guidelines for Appeals of Material Supervisory Determinations that establish an Office of Supervisory Appeals as a standalone, independent unit within the FDIC, replacing the existing Supervision Appeals Review Committee (SARC). Under the new framework, the Office of Supervisory Appeals will serve as the final level of review for material supervisory determinations and will sit outside the FDIC divisions responsible for making those determinations. The office will be staffed by externally hired reviewing officials, and each review panel will include at least one official with bank supervisory experience and at least one official with industry experience. The FDIC will notify institutions once the Office of Supervisory Appeals is operational.