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FDIC revises appeals guidelines

The FDIC Board has adopted revised Guidelines for Appeals of Material Supervisory Determinations. The revised guidelines are intended to enhance the independence of appeals decisions and to clarify the procedures and timeframes that apply to appeals when the FDIC is taking a formal enforcement action. The revised guidelines generally replace the existing Supervision Appeals Review Committee (SARC) with an independent, standalone office within the FDIC, known as the Office of Supervisory Appeals (Office). The revised guidelines will take effect when the Office is fully operational; the current guidelines will remain in effect until that time. The FDIC will publish a notice to inform institutions when this occurs. Chairman McWilliams issued a statement on the changes.