CFPB Monitor

AUGUST 23, 2022

The FDIC has issued new supervisory guidance (FIL-40-2022) on multiple non-sufficient funds (NSF) fees arising from the re-presentment of the same unpaid transaction. In the guidance, the FDIC addresses potential risks arising from multiple re-presentment NSF fees, risk mitigation practices, and the FDIC’s supervisory approach. .

FDIC 78

FDIC Compliance System Regulation 78

CFPB Monitor

AUGUST 25, 2020

The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.

FDIC 78

FDIC District of Columbia North Carolina Illinois 78

CFPB Monitor

NOVEMBER 12, 2020

Banking and Securities Regulators (includes FDIC, Federal Reserve, NCUA). Gary Gensler , who is with the Massachusetts Institute of Technology, will serve as team leader. English initiated unsuccessful litigation seeking a declaration that she, rather than Mr. Mulvaney, had the right to serve as Acting Director.

FDIC 97

FDIC Massachusetts New York Policies 97

CFPB Monitor

DECEMBER 18, 2020

The AGs in the lawsuit against the OCC, joined by the AGs for the District of Columbia, Massachusetts, Minnesota, New Jersey, and North Carolina, filed a second lawsuit against the FDIC to enjoin its similar “ Madden -fix” rule as to state banks. White who was appointed to the federal bench in 2002 by President George W.

FDIC 78

FDIC District of Columbia North Carolina New Jersey 78

South State Correspondent

MARCH 15, 2023

Percentage of Uninsured Deposits: At the time of failure, SVB had approximately 88% of their deposits above the FDIC-insured $250k limit and ran at 95% at the end of last year. Look for more formal education teaching bankers how to talk to customers about FDIC insurance, bank safety, and liquidity concerns.

social media 195

social media FDIC Branding Management 195

CFPB Monitor

SEPTEMBER 12, 2022

Last month, the FDIC issued new supervisory guidance on multiple NSF fees arising from the re-presentment of the same unpaid transaction. Both Jenkins and Lamoureux are awaiting further proceedings. We will continue to monitor each for significant developments as they move forward.

New York 78

New York Massachusetts FDIC Regulation 78

PYMNTS

NOVEMBER 20, 2020

Starting in January, the bank will close 40 of its branch banking locations in the stores, more than half of which will be in Massachusetts. The big news of the week in this regard is the announcement by Citizens Bank that it will be closing down many of its Stop & Shop grocery locations.

Metro 222

Metro Massachusetts FDIC Trends 222