12 C.F.R. § 907.12 Finance Board procedures.
Title 12 - Banks and Banking
(a) Notice of Receipt of Petition or Request to Intervene. No later than three business days following receipt of a Petition or Request to Intervene, the Secretary to the Board shall transmit a written Notice of Receipt to the Petitioner or Intervenor. In the case of a Petition for Case-by-Case Determination, the Finance Board shall promptly publish a notice of receipt of Petition, including a brief summary of the issue(s) involved, in the (b) Transmittal of filings. The Secretary to the Board shall promptly transmit copies of any Petition, Request to Intervene, or other filing under this subpart to the Board of Directors and all other parties to the filing. (c) Opportunity to cure defects. The Managing Director shall afford the Petitioner or Intervenor a reasonable opportunity to cure any failure to comply with the requirements of §907.10. (d) Information request. The Managing Director may request additional information from the Petitioner or Intervenor. No later than 20 calendar days after the date of a request under this paragraph, the Petitioner shall provide to the Secretary to the Board all information requested. (e) Supplemental information. Upon good cause shown, the Managing Director may grant permission to a Petitioner or Intervenor to submit supplemental written information pertaining to the Petition or Request to Intervene. (f) Consolidation and severance—(1) Consolidation. The Managing Director may consolidate any or all matters at issue in two or more meetings on Petitions where: (i) There exist common parties or common questions of fact or law; (ii) Consolidation would expedite and simplify consideration of the issues; and (iii) Consolidation would not adversely affect the rights of parties engaged in otherwise separate proceedings. (2) Severance. The Managing Director may order any meetings and issues severed with respect to any or all parties or issues. (g) Notice of Board Consideration. Within 30 calendar days of receipt of a Petition deemed by the Managing Director to be in compliance with the requirements of §907.10, or, if the Petition has been the subject of a request under paragraph (d) of this section, within 30 calendar days of receipt of a response from the Petitioner deemed by the Managing Director to complete the information necessary for the Board of Directors to consider the Petition, the Managing Director, after consultation with the Board of Directors, through the Secretary to the Board, shall provide all parties with a Notice of Board Consideration containing the following information: (1) Identification of the issues accepted for consideration; (2) Any decision to consolidate or sever pursuant to paragraph (f) of this section; (3) Whether the Petition will be considered by the Board of Directors on the written record pursuant to §907.13(a)(1), or at a meeting pursuant to §907.13(a)(2); and (4) If the Petition will be considered by the Board of Directors at a meeting: (i) The date, time and place of the meeting; and (ii) A decision as to any Request to Appear filed pursuant to §§907.10(d) or 907.11(a)(4). [64 FR 30883, June 9, 1999, as amended at 65 FR 8257, Feb. 18, 2000]
Title 12: Banks and Banking
PART 907—PROCEDURES
Subpart C—Case-by-Case Determinations; Review of Disputed Supervisory Determinations
§ 907.12 Finance Board procedures.
