Final SRC, appeals rules published, effective Jan. 1
The NCUA published its final rules on appeals procedures and the supervisory review committee (SRC) in the Federal Register Monday, both rules will be effective Jan. 1. The NCUA board finalized the rules at its October board meeting.
The appeals rule is designed to increase the efficiency and consistency across the agency by streamlining appeal procedures applicable to agency regulations with embedded appeals process, replacing existing provisions.
The new procedures apply to cases where decisions handed down from a regional director or program office director is appealable to the NCUA board.
Additional details can also be found on CUNA’s Removing Barriers Blog.
The final SRC rule seeks to enhance due process and align appellate practices with other federal financial regulators.
- Enhances due process and align appellate practices with other federal financial regulators;
- Expands the number of supervisory determinations eligible for appeal to the SRC;
- Adds an additional level of intermediate supervisory review by the Director of Examination and Insurance; and
- Permits direct oral appeals to the NCUA board.
Additional details are available on CUNA’s Removing Barriers Blog.