In change to supervisory appeals process, FDIC reinstates SARC 

The FDIC today announced that it will reinstate the Supervision Appeals Review Committee as the final level of review in the agency’s supervisory appeals process. The FDIC had previously established a new, independent Office of Supervisory Appeals that was intended to replace the SARC—a move supported by ABA.

According to revised guidelines issued today, the SARC will include one inside member of the FDIC’s Board of Directors (who will serve as chairperson); a deputy or special assistant to each of the other inside board members; and the general counsel as a non-voting member. Institutions are encouraged to make good-faith efforts to resolve disputes with on-site examiners and/or with the appropriate regional office, the FDIC said.