; and (6) report annually to the Committee on Financial Services of the House of Representatives, the Committee on Banking, Housing, and Urban Affairs of the Senate, and the Council, on the reviews carried out pursuant to paragraphs (3) and (4), including compliance with the requirements set forth in section 1012 regarding timeliness of examination reports, and the Council’s recommendations for improvements in examination procedures, practices, and policies. (e) Confidentiality The Director shall keep confidential all meetings with, discussions with, and information provided by financial institutions. 1015. Right to independent review of material supervisory determinations (a) In general A financial institution shall have the right to obtain an independent review of a material supervisory determination contained in a final report of examination. (b) Notice (1) Timing A financial institution seeking review of a material supervisory determination under this section shall file a written notice with the Independent Examination Review Director (the Director ) within 60 days after receiving the final report of examination that is the subject of such review. (2) Identification of determination The written notice shall identify the material supervisory determination that is the subject of the independent examination review, and a statement of the reasons why the institution believes that the determination is incorrect or should otherwise be modified. (3) Information to be provided to institution Any information relied upon by the agency in the final report that is not in the possession of the financial institution may be requested by the financial institution and shall be delivered promptly by the agency to the financial institution. (c) Right to hearing (1) In general The Director shall determine the merits of the appeal on the record or, at the financial institution’s election, shall refer the appeal to an Administrative Law Judge to conduct a confidential hearing pursuant to the procedures set forth under sections 556