The FDIC has reopened the Office of Supervisory Appeals and appointed three individuals to serve on a panel that will review supervisory decisions, the agency announced today.
Earlier this year, the FDIC voted to dissolve the Supervision Appeals Review Committee and replace it with an independent OSA. The agency eliminated the OSA in 2022 – not long after the office was formed as a replacement for SARC, which the American Bankers Association and others said was an ineffective vehicle for banks to challenge supervisory findings.
The new OSA will make independent supervisory determinations and permit appeals in certain cases when an enforcement action is proposed or pending, according to the agency. Also, a panel of three officials will consider each appeal, with one panelist required to have bank industry experience. The agency announced three panel appointments:
- Tim Ayala, who most recently was EVP and chief risk officer for Pinnacle Financial Partners in Nashville. He previously was a commissioned bank examiner at the FDIC.
- John Conneely, who previously held several leadership roles at the agency, including director of the Division of Complex Institutions Supervision and Resolution.
- Duke Sheow, who most recently served as senior managing director at PwC. He also served as a senior commissioned examiner with the FDIC and the Federal Reserve Bank of San Francisco.
In addition to the FDIC, the Office of the Comptroller of the Currency announced earlier this year that it is pursuing similar reforms to its appeals process, including creating an appeals board.
