Dustin N. Nofziger

Financial Institutions Group attorneys Pinchus D. Raice, Jeffrey Alberts, and Dustin N. Nofziger recently published an article titled “The Federal Reserve Board Significantly Revises Intra-Agency Appeals Procedures" in the July-August 2020 publication of The Banking Law Journal.The authors summarize significant changes to the Federal Reserve Board’s (Board’s) intra-agency appeals procedures, which the Board updated for the first time in 25 years in March 2020, and offer an analysis of takeaways for financial institutions.

Notably, several of the Board’s recent changes to the intra-agency appeals process were in response to a comment letter submitted by the authors on behalf of the New York League of Independent Bankers (NYLIB).  In their article in The Banking Law Journal, the authors conclude that the Board’s recent revisions to the appeals procedures “are positive for financial institutions in that they make the Board’s intra-agency appeals process more useful, fair, and transparent.”

The Board allows financial institutions to appeal material supervisory determinations such as CAMELS, ROCA, and consumer compliance ratings; the adequacy of loan loss reserves and/or capital; significant loan classifications; accounting interpretations; and matters requiring attention (“MRAs”) and matters requiring immediate attention (“MRIAs”).

More About the Financial Institutions Group

Pryor Cashman’s Financial Institutions Group provides comprehensive representation to banks and other financial institutions. Co-led by a former federal bank regulator and a former member of the U.S. Attorney’s office, we couple an insider’s perspective with decades of experience handling negotiations with bank regulators. Our team includes skilled banking litigators with experience handling intra-agency appeals, regulatory enforcement proceedings and receivership lawsuits, government criminal investigations and internal investigations.