Scheme: 
FRSXBOAR0002
Case Type Number: 
2
Statute (Common Name): 
Federal Deposit Insurance Act
Program Area: 
Banking/Financial Services
Legal Authorities (Statute/Exec. Order): 
FDI Act Section 38
Regulatory Authorities (CFR): 
12 CFR 263.203
Filed By: 
Private Party/Individual
Brief Description of Case Type: 
If the Board determines that a bank or financial institution is in unsafe or unsound condition, the Board may "reclassify" the institution. The Board must first issue a "notice of proposed reclassification." When the Board issues such a notice, the institution in question can respond, and in that response can request an informal hearing.
Relief Available in Actions Filed By Private Parties: 
Reinstatement/Restoration of Existing Right or Privilege
Verified by Agency: 
Not verified