Regulatory Alerts2021-01-12 | 2020-27944FDIC Rules of Practice and Procedure; Technical Revisions
The Federal Deposit Insurance Corporation issued a final rule amending 12 CFR Part 308 to codify the appointment of an Administrative Officer as the inferior officer responsible for key adjudicative functions. This amendment replaces outdated references to the Executive Secretary with current position titles and aligns FDIC adjudicative practices with the Supreme Court’s Lucia decision by explicitly confirming Board appointment authority. Effective January 12, 2021, the technical revisions streamline procedural filings and motions without substantially altering non-agency parties’ rights, permitting immediate implementation without prior public notice.
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