[Code of Federal Regulations]
[Title 12, Volume 3]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 12CFR268.405]

[Page 819]
 
                       TITLE 12--BANKS AND BANKING
 
                   CHAPTER II--FEDERAL RESERVE SYSTEM
 
PART 268--RULES REGARDING EQUAL OPPORTUNITY--Table of Contents
 
    Subpart E--Appeals to the Equal Employment Opportunity Commission
 
Sec. 268.405  Decisions on appeals.

    (a) The Office of Federal Operations, on behalf of the Commission, 
shall issue a written decision setting forth its reasons for the 
decision. The Commission shall dismiss appeals in accordance with 
Secs. 268.106, 268.403(c) and 268.408. The decision on an appeal from 
the Board's final action shall be based on a de novo review, except that 
the review of the factual findings in a decision by an administrative 
judge issued pursuant to Sec. 268.108(i) shall be based on a substantial 
evidence standard of review. If the decision contains a finding of 
discrimination, appropriate remedy(ies) shall be included and, where 
appropriate, the entitlement to interest, attorney's fees or costs shall 
be indicated. The decision shall reflect the date of its issuance, 
inform the complainant of his or her civil action rights, and be 
transmitted to the complainant and the Board by first class mail.
    (b) A decision issued under paragraph (a) of this section is final, 
subject to paragraph (c) of this section, within the meaning of 
Sec. 268.406 unless the Commission reconsiders the case. A party may 
request reconsideration within 30 days of receipt of a decision of the 
Commission, which the Commission in its discretion may grant, if the 
party demonstrates that:
    (1) The appellate decision involved a clearly erroneous 
interpretation of material fact or law; or
    (2) The decision will have a substantial impact on the policies, 
practices or operations of the Board.
    (c) The Board, within 30 days of receiving the decision of the 
Commission, shall issue a final decision based upon that decision.