41479Federal Register / Vol. 69, No. 131 / Friday, July 9, 2004 / Notices
CY–B402, Washington, DC 20554.
Customers may contact BCPI, Inc. at
their Web site: http://www.bcpiweb.com
or call 1–800–378–3160.
To request this document in
accessible formats for people with
disabilities (Braille, large print,
electronic files, audio format), send an
e-mail to fcc504@fcc.gov or call the
Consumer & Governmental Affairs
Bureau at (202) 418–0530 (voice), (202)
418–0432 (TTY). This Public Notice can
also be downloaded in Word and
Portable Formats at http://www.fcc.gov/
cgb/dro.
Synopsis: TRS enables an individual
with a hearing or speech disability to
communicate by telephone with a
person without such a disability. This is
accomplished through TRS facilities
that are staffed by specially trained
communications assistants (CAs) using
special technology. The CA relays
conversations between persons using
various types of assistive
communication devices and persons
who do not require such assistive
devices. In a traditional text-based TRS
call, the caller types the number of the
TRS facility and, after reaching the
facility, types the number of the party
he or she desires to call. The CA, in
turn, places an outbound voice call to
the called party. The CA serves as the
‘‘link’’ in the conversation, converting
all TTY messages from the caller into
voice messages, and all voice messages
from the called party into typed
messages for the TTY user. The process
is performed in reverse when a voice
telephone user initiates a traditional
TRS call to a TTY user. TRS also
includes Video Relay Services (VRS),
Internet Protocol (IP) Relay, and Speech-
to-Speech (STS). IP Relay is a form of
TRS that uses the Internet, rather than
the Public Switched Telephone
Network, to place the leg of the call
from the person with a hearing or
speech disability to the TRS CA. The IP
Relay user establishes a local
connection to an Internet service
provider (ISP) using a computer, web
phone, personal digital assistant (PDA)
or any other IP-capable device. The IP
Relay user then reaches a CA by
directing the web browser to one of the
IP Relay providers’ Web sites. When the
IP Relay user is connected to the IP
Relay service provider, the user is
immediately routed to a CA, who then
makes the outbound call to the hearing
person and relays the call between the
parties. The Commission has received
complaints from vendors, consumers,
and TRS providers that people are using
the IP Relay to make telephone
purchases using stolen or fake credit
cards. Although such purchases are
illegal, and the Department of Justice
and the FBI can investigate, due to the
transparent nature of the CA’s role in a
TRS call the CA may not interfere with
the conversation. The TRS statutory and
regulatory scheme do not contemplate
that the CA should have a law
enforcement role by monitoring the
conversations they are relaying.
The Federal Trade Commission is
aware of this problem and has
instructed that persons who have been
defrauded should contact the FTC
directly at http://www.ftc.gov or 877–
FTC–HELP. The FBI also has a Web site
for complaints and information
regarding Internet crimes: http://
www.ic3.gov. Since this type of fraud
first became apparent, the TRS
Providers have worked to develop
methods to determine which IP Relay
calls are fraudulent, and therefore have
been able to prevent many of these calls
from reaching the intended victims.
This has been achieved without
negatively impacting legitimate users of
the service, according to the IP Relay
providers. However, this is still a
concern and merchants should report
any fraudulent activity to the FTC, FBI,
or their state authorities. We encourage
vendors that accept orders for their
goods and services by telephone to take
steps to ensure that, when they receive
a TRS call, the credit card is valid and
the purchaser is authorized to use the
particular credit card, just as they would
do with any other telephone order. We
also remind vendors that Title III of the
Americans with Disabilities Act of 1990
(ADA) does not permit merchants to
treat persons with a hearing or speech
disability differently than they treat
others. Therefore, if they accept
telephone orders from the general
public, they cannot refuse to accept
them from persons with hearing or
speech disabilities using TRS.
For more information on the
applicability of the ADA in this context,
see generally the United States
Department of Justice’s ADA home page,
at http://www.usdoj.gov/crt/ada/
adahom1.htm or contact the DOJ ADA
Information Line at 800–514–0301
(voice) or 800–514–0663 (TTY).
Federal Communications Commission.
Thomas D. Wyatt,
Deputy Chief, Consumer & Governmental
Affairs Bureau.
[FR Doc. 04–15639 Filed 7–8–04; 8:45 am]
BILLING CODE 6712 –01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Intra-Agency Appeal Process:
Guidelines for Appeals of Material
Supervisory Determinations and
Guidelines for Appeals of Deposit
Insurance Assessment Determinations
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Notice of guidelines.
SUMMARY: On June 28, 2004, the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
Board of Directors (‘‘Board’’) adopted
revised Guidelines for Appeals of
Material Supervisory Determinations
(‘‘guidelines’’). The Guidelines for
Appeals of Material Supervisory
Determinations govern the Supervision
Appeals Review Committee (‘‘SARC’’)
process and supersede the FDIC’s prior
Guidelines for Appeals of Material
Supervisory Determinations, which
were adopted by the FDIC’s Board of
Directors on March 21, 1995. The
guidelines reconstitute the SARC and
modify the procedures for appeals to the
SARC. On that same date, the Board also
adopted Guidelines for Appeals of
Deposit Insurance Assessment
Determinations. The Guidelines for
Appeals of Deposit Insurance
Assessment Determinations govern the
Assessment Appeals Committee
(‘‘AAC’’) process. The guidelines
reconstitute the AAC and set out
procedures for appeals to the AAC. Both
sets of guidelines are effective upon
adoption.
DATES: The SARC Guidelines and the
AAC Guidelines became effective on
June 28, 2004.
FOR FURTHER INFORMATION CONCERNING
THE SARC GUIDELINES CONTACT: Lisa K.
Roy, Associate Director, Division of
Supervision and Consumer Protection,
(202) 898–3764; Christopher Bellotto,
Counsel, Legal Division, (202) 898–
3801, Federal Deposit Insurance
Corporation, 550 17th St., NW.,
Washington, DC 20429.
FOR FURTHER INFORMATION CONCERNING
THE AAC GUIDELINES CONTACT: William V.
Farrell, Chief, Assessment Management
Section, Division of Finance, (202) 416–
7156; Diane Ellis, Associate Director,
Division of Insurance and Research,
(202) 898–8978; Lisa K. Roy, Associate
Director, Division of Supervision and
Consumer Protection, (202) 898–3764;
Christopher Bellotto, Counsel, (202)
898–3801, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
The revised Guidelines for Appeals of
Material Supervisory Determinations
VerDate jul<14>2003 19:37 Jul 08, 2004 Jkt 203001 PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1
CY–B402, Washington, DC 20554.
Customers may contact BCPI, Inc. at
their Web site: http://www.bcpiweb.com
or call 1–800–378–3160.
To request this document in
accessible formats for people with
disabilities (Braille, large print,
electronic files, audio format), send an
e-mail to fcc504@fcc.gov or call the
Consumer & Governmental Affairs
Bureau at (202) 418–0530 (voice), (202)
418–0432 (TTY). This Public Notice can
also be downloaded in Word and
Portable Formats at http://www.fcc.gov/
cgb/dro.
Synopsis: TRS enables an individual
with a hearing or speech disability to
communicate by telephone with a
person without such a disability. This is
accomplished through TRS facilities
that are staffed by specially trained
communications assistants (CAs) using
special technology. The CA relays
conversations between persons using
various types of assistive
communication devices and persons
who do not require such assistive
devices. In a traditional text-based TRS
call, the caller types the number of the
TRS facility and, after reaching the
facility, types the number of the party
he or she desires to call. The CA, in
turn, places an outbound voice call to
the called party. The CA serves as the
‘‘link’’ in the conversation, converting
all TTY messages from the caller into
voice messages, and all voice messages
from the called party into typed
messages for the TTY user. The process
is performed in reverse when a voice
telephone user initiates a traditional
TRS call to a TTY user. TRS also
includes Video Relay Services (VRS),
Internet Protocol (IP) Relay, and Speech-
to-Speech (STS). IP Relay is a form of
TRS that uses the Internet, rather than
the Public Switched Telephone
Network, to place the leg of the call
from the person with a hearing or
speech disability to the TRS CA. The IP
Relay user establishes a local
connection to an Internet service
provider (ISP) using a computer, web
phone, personal digital assistant (PDA)
or any other IP-capable device. The IP
Relay user then reaches a CA by
directing the web browser to one of the
IP Relay providers’ Web sites. When the
IP Relay user is connected to the IP
Relay service provider, the user is
immediately routed to a CA, who then
makes the outbound call to the hearing
person and relays the call between the
parties. The Commission has received
complaints from vendors, consumers,
and TRS providers that people are using
the IP Relay to make telephone
purchases using stolen or fake credit
cards. Although such purchases are
illegal, and the Department of Justice
and the FBI can investigate, due to the
transparent nature of the CA’s role in a
TRS call the CA may not interfere with
the conversation. The TRS statutory and
regulatory scheme do not contemplate
that the CA should have a law
enforcement role by monitoring the
conversations they are relaying.
The Federal Trade Commission is
aware of this problem and has
instructed that persons who have been
defrauded should contact the FTC
directly at http://www.ftc.gov or 877–
FTC–HELP. The FBI also has a Web site
for complaints and information
regarding Internet crimes: http://
www.ic3.gov. Since this type of fraud
first became apparent, the TRS
Providers have worked to develop
methods to determine which IP Relay
calls are fraudulent, and therefore have
been able to prevent many of these calls
from reaching the intended victims.
This has been achieved without
negatively impacting legitimate users of
the service, according to the IP Relay
providers. However, this is still a
concern and merchants should report
any fraudulent activity to the FTC, FBI,
or their state authorities. We encourage
vendors that accept orders for their
goods and services by telephone to take
steps to ensure that, when they receive
a TRS call, the credit card is valid and
the purchaser is authorized to use the
particular credit card, just as they would
do with any other telephone order. We
also remind vendors that Title III of the
Americans with Disabilities Act of 1990
(ADA) does not permit merchants to
treat persons with a hearing or speech
disability differently than they treat
others. Therefore, if they accept
telephone orders from the general
public, they cannot refuse to accept
them from persons with hearing or
speech disabilities using TRS.
For more information on the
applicability of the ADA in this context,
see generally the United States
Department of Justice’s ADA home page,
at http://www.usdoj.gov/crt/ada/
adahom1.htm or contact the DOJ ADA
Information Line at 800–514–0301
(voice) or 800–514–0663 (TTY).
Federal Communications Commission.
Thomas D. Wyatt,
Deputy Chief, Consumer & Governmental
Affairs Bureau.
[FR Doc. 04–15639 Filed 7–8–04; 8:45 am]
BILLING CODE 6712 –01–P
FEDERAL DEPOSIT INSURANCE
CORPORATION
Intra-Agency Appeal Process:
Guidelines for Appeals of Material
Supervisory Determinations and
Guidelines for Appeals of Deposit
Insurance Assessment Determinations
AGENCY: Federal Deposit Insurance
Corporation.
ACTION: Notice of guidelines.
SUMMARY: On June 28, 2004, the Federal
Deposit Insurance Corporation (‘‘FDIC’’)
Board of Directors (‘‘Board’’) adopted
revised Guidelines for Appeals of
Material Supervisory Determinations
(‘‘guidelines’’). The Guidelines for
Appeals of Material Supervisory
Determinations govern the Supervision
Appeals Review Committee (‘‘SARC’’)
process and supersede the FDIC’s prior
Guidelines for Appeals of Material
Supervisory Determinations, which
were adopted by the FDIC’s Board of
Directors on March 21, 1995. The
guidelines reconstitute the SARC and
modify the procedures for appeals to the
SARC. On that same date, the Board also
adopted Guidelines for Appeals of
Deposit Insurance Assessment
Determinations. The Guidelines for
Appeals of Deposit Insurance
Assessment Determinations govern the
Assessment Appeals Committee
(‘‘AAC’’) process. The guidelines
reconstitute the AAC and set out
procedures for appeals to the AAC. Both
sets of guidelines are effective upon
adoption.
DATES: The SARC Guidelines and the
AAC Guidelines became effective on
June 28, 2004.
FOR FURTHER INFORMATION CONCERNING
THE SARC GUIDELINES CONTACT: Lisa K.
Roy, Associate Director, Division of
Supervision and Consumer Protection,
(202) 898–3764; Christopher Bellotto,
Counsel, Legal Division, (202) 898–
3801, Federal Deposit Insurance
Corporation, 550 17th St., NW.,
Washington, DC 20429.
FOR FURTHER INFORMATION CONCERNING
THE AAC GUIDELINES CONTACT: William V.
Farrell, Chief, Assessment Management
Section, Division of Finance, (202) 416–
7156; Diane Ellis, Associate Director,
Division of Insurance and Research,
(202) 898–8978; Lisa K. Roy, Associate
Director, Division of Supervision and
Consumer Protection, (202) 898–3764;
Christopher Bellotto, Counsel, (202)
898–3801, Legal Division, Federal
Deposit Insurance Corporation, 550 17th
Street, NW., Washington, DC 20429.
SUPPLEMENTARY INFORMATION:
The revised Guidelines for Appeals of
Material Supervisory Determinations
VerDate jul<14>2003 19:37 Jul 08, 2004 Jkt 203001 PO 00000 Frm 00024 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1
41480 Federal Register / Vol. 69, No. 131 / Friday, July 9, 2004 / Notices
change the composition of the SARC,
reducing it from five to three voting
members, and incorporate changes to
the procedures governing SARC
appeals. Included are new rules under
which the FDIC’s Division of
Supervision and Consumer Protection
(‘‘DSC’’) issues written decisions if it
denies requests for review of material
supervisory determinations; if
dissatisfied with the division’s
determination, institutions decide for
themselves whether to appeal to the
SARC; and SARC decisions will be
published, with exempt material
redacted. The types of determinations
eligible for review by the SARC and the
standards by which such appeals are
decided remain unchanged.
The Guidelines for Appeals of Deposit
Insurance Assessment Determinations
change the composition of the AAC,
reducing it from seven to five voting
members, and set forth procedures to be
followed by insured depository
institutions that choose to appeal
adverse assessment determinations they
have received from the appropriate
FDIC division. As with the SARC, AAC
decisions will be published, with
exempt material redacted. The types of
determinations eligible for review by the
AAC and the standards by which such
appeals are decided remain unchanged.
On March 18, 2004, the FDIC
published in the Federal Register, for a
30-day comment period, a notice of and
request for comments the proposed
revisions to the Guidelines for Appeals
of Material Supervisory Determinations
and the proposed Guidelines for
Appeals of Deposit Insurance
Assessment Determinations. (69 FR
12855). The comment period closed on
April 19, 2004. The FDIC considered it
desirable in this instance to garner
comments regarding these guidelines,
although notice and comment
rulemaking was not required and need
not be employed should the FDIC make
future amendments.
The FDIC received three comment
letters, two from trade organizations
(America’s Community Bankers and the
American Bankers Association) and one
from a depository institution (The Bank
of Easton). The comments generally
supported the proposed guidelines,
although a few objections were raised
and several recommendations were
made to somewhat revise specific parts
of the proposal. The following is a
discussion of the revised guidelines for
the SARC and for the AAC and the
comments received.
I. Guidelines for Appeals of Material
Supervisory Determinations
Background
Section 309(a) of the Riegle
Community Development and
Regulatory Improvement Act of 1994
(Public Law 103–325, 108 Stat. 2160)
(‘‘Riegle Act’’) required the FDIC (as
well as the other Federal banking
agencies and the National Credit Union
Administration Board) to establish an
independent intra-agency appellate
process to review material supervisory
determinations.
The Riegle Act defines the term
‘‘independent appellate process’’ to
mean a review by an agency official who
does not directly or indirectly report to
the agency official who made the
material supervisory determination
under review. In the appeals process,
the FDIC is required to ensure that (1)
an appeal of a material supervisory
determination by an insured depository
institution is heard and decided
expeditiously; and (2) appropriate
safeguards exist for protecting
appellants from retaliation by agency
examiners.
On March 21, 1995, the FDIC’s Board
of Directors adopted the original
Guidelines for Appeals of Material
Supervisory Determinations, which
established and set forth procedures
governing the SARC, whose purpose
was to consider and decide appeals of
material supervisory determinations as
required by the Riegle Act.
A. Membership
As originally constituted, the SARC
consisted of the FDIC Vice Chairperson
(as chair of the SARC), the Director of
the Division of Supervision (‘‘DOS’’),
the Director of the Division of
Compliance and Consumer Affairs
(‘‘DCA’’), the Ombudsman, and the
General Counsel (or their designees).
The 1995 SARC guidelines were
amended in 1999 to add the Director of
the Division of Insurance (now the
Director of the Division of Insurance
and Research (‘‘DIR’’)) as a voting SARC
member, to provide formally that the
Directors of DOS and DCA (now the
DSC Director) would not vote on cases
brought before the SARC involving their
respective (now consolidated) divisions,
to provide that designees would be
limited to the most senior members of
a SARC member’s staff, and to include
Truth-in-Lending (Regulation Z)
restitution. In addition, the SARC was
expressly authorized to consider
appeals of denied filings as set forth in
12 CFR 303.11(f) for which a Request for
Reconsideration has been granted, other
than denials of a change in bank control,
change in senior executive officer or
board of directors, or denial of an
application pursuant to section 19 of the
Federal Deposit Insurance Act (‘‘FDI
Act’’) (which are contained in 12 CFR
308, subparts D, L, and M, respectively),
if the filing was originally denied by the
Director, Deputy Director or Associate
Director of DSC.
While the prior guidelines satisfied
the Riegle Act’s requirement to establish
an independent appellate process for
the review of material supervisory
determinations, the revised guidelines
will facilitate the disposition of SARC
appeals and further underscore the
perception of the SARC as a fair and
independent high-level body for review
of material supervisory determinations
within the FDIC.
In the Notice and Request for
Comment published on March 18, 2004,
the FDIC proposed to change the
composition of the SARC so that the
Director of DSC, the Director of DIR, and
the Ombudsman would no longer serve
on the SARC, and new SARC members
would be drawn from the most senior
levels of the Corporation.
Under the revised guidelines, SARC
membership would consist of three (3)
voting members: (1) One of the inside
FDIC Board members, either the
Chairperson, the Vice Chairperson, or
the Director (Appointive), as designated
by the FDIC Chairperson (this person
would serve as the Chairperson of the
SARC); and (2) one deputy or special
assistant to each inside FDIC Board
member not designated as the SARC
Chairperson.
The General Counsel would be the
fourth, and non-voting, member of the
SARC. The FDIC Chairperson can
designate alternate member(s) to the
SARC if vacancies occur so long as the
alternate member was not directly or
indirectly involved in making or
affirming the material supervisory
determination under review. In
addition, a member of the SARC can
designate and authorize the most senior
member of his or her staff—within the
substantive area—to act on his or her
behalf in SARC matters.
One commenter noted that the
designation ‘‘inside directors’’ would
make the procedures more ‘‘reader-
friendly.’’ The FDIC has two ‘‘outside
directors’’—the Director from the Office
of the Comptroller of the Currency and
the Director from the Office of Thrift
Supervision. The FDIC has three ‘‘inside
directors’’—the FDIC Chairperson, the
FDIC Vice-Chairperson and the
appointive FDIC Director. By using the
designation suggested by the
commenter, the procedures more clearly
describe the membership of the SARC
VerDate jul<14>2003 19:37 Jul 08, 2004 Jkt 203001 PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1
change the composition of the SARC,
reducing it from five to three voting
members, and incorporate changes to
the procedures governing SARC
appeals. Included are new rules under
which the FDIC’s Division of
Supervision and Consumer Protection
(‘‘DSC’’) issues written decisions if it
denies requests for review of material
supervisory determinations; if
dissatisfied with the division’s
determination, institutions decide for
themselves whether to appeal to the
SARC; and SARC decisions will be
published, with exempt material
redacted. The types of determinations
eligible for review by the SARC and the
standards by which such appeals are
decided remain unchanged.
The Guidelines for Appeals of Deposit
Insurance Assessment Determinations
change the composition of the AAC,
reducing it from seven to five voting
members, and set forth procedures to be
followed by insured depository
institutions that choose to appeal
adverse assessment determinations they
have received from the appropriate
FDIC division. As with the SARC, AAC
decisions will be published, with
exempt material redacted. The types of
determinations eligible for review by the
AAC and the standards by which such
appeals are decided remain unchanged.
On March 18, 2004, the FDIC
published in the Federal Register, for a
30-day comment period, a notice of and
request for comments the proposed
revisions to the Guidelines for Appeals
of Material Supervisory Determinations
and the proposed Guidelines for
Appeals of Deposit Insurance
Assessment Determinations. (69 FR
12855). The comment period closed on
April 19, 2004. The FDIC considered it
desirable in this instance to garner
comments regarding these guidelines,
although notice and comment
rulemaking was not required and need
not be employed should the FDIC make
future amendments.
The FDIC received three comment
letters, two from trade organizations
(America’s Community Bankers and the
American Bankers Association) and one
from a depository institution (The Bank
of Easton). The comments generally
supported the proposed guidelines,
although a few objections were raised
and several recommendations were
made to somewhat revise specific parts
of the proposal. The following is a
discussion of the revised guidelines for
the SARC and for the AAC and the
comments received.
I. Guidelines for Appeals of Material
Supervisory Determinations
Background
Section 309(a) of the Riegle
Community Development and
Regulatory Improvement Act of 1994
(Public Law 103–325, 108 Stat. 2160)
(‘‘Riegle Act’’) required the FDIC (as
well as the other Federal banking
agencies and the National Credit Union
Administration Board) to establish an
independent intra-agency appellate
process to review material supervisory
determinations.
The Riegle Act defines the term
‘‘independent appellate process’’ to
mean a review by an agency official who
does not directly or indirectly report to
the agency official who made the
material supervisory determination
under review. In the appeals process,
the FDIC is required to ensure that (1)
an appeal of a material supervisory
determination by an insured depository
institution is heard and decided
expeditiously; and (2) appropriate
safeguards exist for protecting
appellants from retaliation by agency
examiners.
On March 21, 1995, the FDIC’s Board
of Directors adopted the original
Guidelines for Appeals of Material
Supervisory Determinations, which
established and set forth procedures
governing the SARC, whose purpose
was to consider and decide appeals of
material supervisory determinations as
required by the Riegle Act.
A. Membership
As originally constituted, the SARC
consisted of the FDIC Vice Chairperson
(as chair of the SARC), the Director of
the Division of Supervision (‘‘DOS’’),
the Director of the Division of
Compliance and Consumer Affairs
(‘‘DCA’’), the Ombudsman, and the
General Counsel (or their designees).
The 1995 SARC guidelines were
amended in 1999 to add the Director of
the Division of Insurance (now the
Director of the Division of Insurance
and Research (‘‘DIR’’)) as a voting SARC
member, to provide formally that the
Directors of DOS and DCA (now the
DSC Director) would not vote on cases
brought before the SARC involving their
respective (now consolidated) divisions,
to provide that designees would be
limited to the most senior members of
a SARC member’s staff, and to include
Truth-in-Lending (Regulation Z)
restitution. In addition, the SARC was
expressly authorized to consider
appeals of denied filings as set forth in
12 CFR 303.11(f) for which a Request for
Reconsideration has been granted, other
than denials of a change in bank control,
change in senior executive officer or
board of directors, or denial of an
application pursuant to section 19 of the
Federal Deposit Insurance Act (‘‘FDI
Act’’) (which are contained in 12 CFR
308, subparts D, L, and M, respectively),
if the filing was originally denied by the
Director, Deputy Director or Associate
Director of DSC.
While the prior guidelines satisfied
the Riegle Act’s requirement to establish
an independent appellate process for
the review of material supervisory
determinations, the revised guidelines
will facilitate the disposition of SARC
appeals and further underscore the
perception of the SARC as a fair and
independent high-level body for review
of material supervisory determinations
within the FDIC.
In the Notice and Request for
Comment published on March 18, 2004,
the FDIC proposed to change the
composition of the SARC so that the
Director of DSC, the Director of DIR, and
the Ombudsman would no longer serve
on the SARC, and new SARC members
would be drawn from the most senior
levels of the Corporation.
Under the revised guidelines, SARC
membership would consist of three (3)
voting members: (1) One of the inside
FDIC Board members, either the
Chairperson, the Vice Chairperson, or
the Director (Appointive), as designated
by the FDIC Chairperson (this person
would serve as the Chairperson of the
SARC); and (2) one deputy or special
assistant to each inside FDIC Board
member not designated as the SARC
Chairperson.
The General Counsel would be the
fourth, and non-voting, member of the
SARC. The FDIC Chairperson can
designate alternate member(s) to the
SARC if vacancies occur so long as the
alternate member was not directly or
indirectly involved in making or
affirming the material supervisory
determination under review. In
addition, a member of the SARC can
designate and authorize the most senior
member of his or her staff—within the
substantive area—to act on his or her
behalf in SARC matters.
One commenter noted that the
designation ‘‘inside directors’’ would
make the procedures more ‘‘reader-
friendly.’’ The FDIC has two ‘‘outside
directors’’—the Director from the Office
of the Comptroller of the Currency and
the Director from the Office of Thrift
Supervision. The FDIC has three ‘‘inside
directors’’—the FDIC Chairperson, the
FDIC Vice-Chairperson and the
appointive FDIC Director. By using the
designation suggested by the
commenter, the procedures more clearly
describe the membership of the SARC
VerDate jul<14>2003 19:37 Jul 08, 2004 Jkt 203001 PO 00000 Frm 00025 Fmt 4703 Sfmt 4703 E:\FR\FM\09JYN1.SGM 09JYN1