Source: http://www.law.cornell.edu/cfr/text/12/303.11
Timestamp: 2013-12-13 23:08:04
Document Index: 630309009

Matched Legal Cases: ['art 303', '§ 303', 'art 308', '§ 303', '§ 303', '§ 303', '§ 303']

12 CFR 303.11 - Decisions. | Title 12 - Banks and Banking | Code of Federal Regulations | LII / Legal Information Institute
CFR › Title 12 › Chapter III › Subchapter A › Part 303 › Subpart A › Section 303.11	prev | next
The FDIC may approve, conditionally approve, deny, or not object to a filing after appropriate review and consideration of the record. The FDIC will promptly notify the applicant and any person who makes a written request of the final disposition of a filing. If the FDIC denies a filing, the FDIC will immediately notify the applicant in writing of the reasons for the denial.
(b) Authority retained by FDIC Board of Directors to modify procedures.
In acting on any filing under this part, the FDIC Board of Directors may by resolution adopt procedures which differ from those contained in this part when it deems it necessary or in the public interest to do so. The resolution shall be made available for public inspection and copying in the Office of the General Counsel, Executive Secretary Section under the Freedom of Information Act (5 U.S.C. 552(a)(2) ).
(c) Expedited processing.
(1) A filing submitted by an eligible depository institution as defined in § 303.2(r) will receive expedited processing as specified in the appropriate subparts of this part unless the FDIC determines to remove the filing from expedited processing for any of the reasons set forth in paragraph (c)(2) of this section. Except for filings made pursuant to subpart J (International Banking), expedited processing will not be available for any filing that the appropriate regional director does not have delegated authority to approve.
(2) Removal of filing from expedited processing.
The FDIC may remove a filing from expedited processing at any time prior to final disposition if:
(d) Multiple transactions.
If the FDIC is considering related transactions, some or all of which have been granted expedited processing, then the longest processing time for any of the related transactions shall govern for purposes of approval.
(e) Abandonment of filing.
A filing must contain all information set forth in the applicable subpart of this part. To the extent necessary to evaluate a filing, the FDIC may require an applicant to provide additional information. If information requested by the FDIC is not provided within the time period specified by the agency, the FDIC may deem the filing abandoned and shall provide written notification to the applicant and any interested parties that submitted comments to the FDIC that the file has been closed.
(f) Appeals and requests for reconsideration—
Appeal procedures for a denial of a change in bank control (subpart E), change in senior executive officer or board of directors (subpart F) or denial of an application pursuant to section 19 of the FDI Act (subpart L) are contained in 12 CFR part 308, subparts D, L, and M, respectively. For all other filings covered by this chapter for which appeal procedures are not provided by regulation or other written guidance, the procedures specified in paragraphs (f) (2) and (3) of this section shall apply. A decision to deny a request for a hearing is a final agency determination and is not appealable.
(2) Filing procedures.
Within 15 days of receipt of notice from the FDIC that its filing has been denied, any applicant may file a request for reconsideration with the appropriate regional director.
(3) Content of filing.
A request for reconsideration must contain the following information:
(6) Processing.
The FDIC will notify the applicant whether reconsideration will be granted or denied within 15 days of receipt of a request for reconsideration. If a request for reconsideration is granted pursuant to § 303.11(f), the FDIC will notify the applicant of the final agency decision on such filing within 60 days of its receipt of the request for reconsideration.
(g) Nullification, withdrawal, revocation, amendment, and suspension of decisions on filings—
(1) Grounds for action.
Except as otherwise provided by law or regulation, the FDIC may nullify, withdraw, revoke, amend or suspend a decision on a filing if it becomes aware at anytime:
(2) Notice of intent and temporary order.
(i) Except as provided in § 303.11(g)(2)(ii), before taking action under this § 303.11(g), the FDIC shall issue and serve on an applicant written notice of its intent to take such action. A notice of intent to act on a filing shall include:
(3) Response to notice of intent or temporary order.
An applicant may file a written response to a notice of intent or a temporary order within 15 days from the date of service of the notice or temporary order. The written response should include:
(ii) (A) Any other relevant information, mitigation circumstance, documentation, or other evidence in support of the applicant's position. An applicant may also request a hearing under § 303.10.
All orders issued pursuant to this section shall become effective immediately upon issuance unless otherwise stated therein.