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

OCTOBER 10, 2019

Celtic could not make and keep the loans on its balance sheet because they would create an unacceptable risk under FDIC regulations. The complaint includes claims for violations of state usury laws (California, Massachusetts, Colorado, New York) and racketeering and conspiracy under federal RICO statutes.

Massachusetts 84

Massachusetts California New York Utah 84

PYMNTS

MARCH 4, 2019

As quoted in the National Law Review , the councilman, citing data from the FDIC that black and Hispanic households are more likely than their white counterparts to be underbanked or unbanked, has said that “the cashless marketplace sends an exclusionary message — that the impoverished, the homeless, the underbanked, the undocumented need not apply.

Retail 129

Retail New York City New York New Jersey 129

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