Section 385.30  Request for Reconsideration

A Regulated Financial Institution may submit a request for a reconsideration of a Material Supervisory Determination (request for reconsideration) with respect to any Material Supervisory Determination but it first should make a good faith effort to resolve the dispute with the Examiner in Charge either during the course of the examination or as soon as possible following completion of the examination.  Although an informal resolution of the dispute over the Material Supervisory Determination is encouraged, it is not a condition of filing a request for reconsideration.  A request for reconsideration shall be initiated no later than 45 calendar days from the receipt of a Final Report of Examination, unless the time is extended at the discretion of the Commissioner.  The board of directors of a bank, corporate fiduciary, or incorporated business entity, the local management of a foreign banking organization, or senior management in the case of an unincorporated business entity shall approve any request for reconsideration.  Any request for reconsideration shall be in writing and shall be made to the Office of Banks and Real Estate to the attention of the appropriate Division Director.