12 C.F.R. § 308.40

Review by the Board of Directors

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(a) Notice of submission to the Board of Directors. When the Administrative Officer determines that the record in the proceeding is complete, the Administrative Officer will serve notice upon the parties that the proceeding has been submitted to the Board of Directors for final decision.

(b) Oral argument before the Board of Directors. Upon the initiative of the Board of Directors or on the written request of any party filed with the Administrative Officer within the time for filing exceptions, the Board of Directors may order and hear oral argument on the recommended findings, conclusions, decision, and order of the ALJ. A written request by a party must show good cause for oral argument and state reasons why arguments cannot be presented adequately in writing. A denial of a request for oral argument may be set forth in the Board of Directors' final decision. Oral argument before the Board of Directors must be on the record.

(c) Board of Directors' final decision. (1) Decisional employees may advise and assist the Board of Directors in the consideration and disposition of the case. The final decision of the Board of Directors will be based upon review of the entire record of the proceeding, except that the Board of Directors may limit the issues to be reviewed to those findings and conclusions to which opposing arguments or exceptions have been filed by the parties.

(2) The Board of Directors will render a final decision within 90 days after notification of the parties that the case has been submitted for final decision, or 90 days after oral argument, whichever is later, unless the Board of Directors orders that the action or any aspect thereof be remanded to the ALJ for further proceedings. Copies of the final decision and order of the Board of Directors will be served upon each party to the proceeding, upon other persons required by statute, and, if directed by the Board of Directors or required by statute, upon any appropriate State or Federal supervisory authority.

Notes of Decisions

Cited in 5 cases (1 in the last 5 years), 1997–2023 · leading case: Landry v. Fed. Deposit Ins. Corp., 204 F.3d 1125 (D.C. Cir. 2000).

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Landry v. Fed. Deposit Ins. Corp., 204 F.3d 1125 (D.C. Cir. 2000). · cites it 2× “See 12 CFR § 308.40 (a), (c). Moreover, even for the non-final decisions of the type made by the STJ in Freytag , the Tax Court was required to defer to the STJ’s factual and credibility findings unless they were clearly erroneous, see Tax Court Rule 183(c), 26 U.”

Burgess v. Fed. Deposit Ins. Corp., 871 F.3d 297 (5th Cir. 2017). “See 12 C.F.R. § 308.40 ; Landry, 204 F.3d at 1133 (majority opinion).”

Raymond J. Lucia Companies, Inc. v. Sec. & Exch. Comm'n, 832 F.3d 277 (D.C. Cir. 2016). “In either the FDIC or Commission system, *288 issues of law and fact can go unreviewed; the FDIC’s regulations do not require the Board to consider issues of fact and law unless a party raises the issue before the Board (after having raised it before an ALJ), see 12 C.F.R. §…”

Stanley R. Hendrickson v. Fed. Deposit Ins. Corp., 113 F.3d 98 (7th Cir. 1997). · cites it 2× “” 12 C.F.R. § 308.40 (c)(2). Here, the Assistant Executive Secretary of the FDIC notified the parties on April 24, 1996 that Hendrickson’s case had been submitted to the Board.”

Burgess v. Fed. Deposit Ins. Corp. (N.D. Tex. 2023). “First, the Fifth Circuit would need to vacate the current injunction. Second, the FDIC would need to order the Enforcement Proceeding, or an aspect of it, be remanded to ALJ Whang for further action.”

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