Regulatory AlertsSR 20-28: Internal Appeals Process for Material Supervisory Determinations and Policy Statement Regarding the Ombudsman for the Federal Reserve System
The Board of Governors of the Federal Reserve System issued this guidance to update the internal appeals process for material supervisory determinations and revise the Ombudsman policy for all supervised institutions. The amended process reduces review levels from three to two, establishes specific standards of review, and mandates expedited timelines for appeals involving critically undercapitalized institutions. Additionally, the policy formalizes the Ombudsman's role in handling complaints and retaliation claims while allowing the Ombudsman to attend appeal deliberations as an observer.
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