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FDIC Clarifying Supervisory Approach Regarding Supervisory Guidance on Multiple Re-Presentment NSF Fees

Supervisory Guidance
June 16, 2023

Summary:

The FDIC has updated its Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) to clarify its supervisory approach for corrective action when a violation of law is identified.

Statement of Applicability: The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.

Highlights:

  • Since the issuance of the Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) , steps financial institutions have taken to remediate consumer harm associated with re-presentment fees have provided the FDIC with additional data about the amount of consumer harm associated with the issue at particular institutions and on-going and extensive challenges in accurately identifying harmed parties.
  • Based on this additional data and experience, the FDIC is updating and reissuing its Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) to reflect our current supervisory approach to not request an institution to conduct a lookback review absent a likelihood of substantial consumer harm.
  • See the attached updated Supervisory Guidance on Multiple Re-Presentment NSF Fees for more information.

Additional Related Topics:

  • Consumer Compliance/ Protection
FIL-32-2023
Contact(s)
Division of Depositor and Consumer Protection

Last Updated: June 16, 2023