In an effort to enhance fairness in bank supervision, the US Federal Deposit Insurance Corporation (FDIC) has proposed replacing its internal Supervision Appeals Review Committee (SARC) with a new Office of Supervisory Appeals.
The standalone office would serve independently of the FDIC's supervisory divisions as the final review body for material supervisory determinations. "Establishing the office as a standalone entity within the FDIC whose sole function is to resolve appeals would ensure that reviewing officials have the capacity to review each case with the proper level of attention and diligence, and would be scalable should the volume of appeals increase," Acting Chair Travis Hill said in a related press release.
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