Overdrafts: Navigating the evolving regulatory landscape
In recent months, regulators have issued multiple documents in the form of supervisory guidance and observations, raising concerns for credit unions.
Source: cuinsight.com
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Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance | Ballard Spahr LLP
A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit...
Source: jdsupra.com
FDIC AND CFPB Bank Guidance
The FDIC encouraged banks to review disclosures and account agreements to make sure that their actual practices are accurately and clearly disclosed but, importantly, even accurately disclosing fees to be charged on APSN transactions will not mitigate the UDAP risk
Source: natlawreview.com
FDIC And OCC Issue New Guidance On Overdraft Protection Programs - Dodd-Frank, Consumer Protection Act
On April 26, 2023, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released, respectively, supervisory guidance and a bulletin warning banking...
Source: mondaq.com
Daily Financial Regulation Update -- Thursday, April 27, 2023 | Paul Hastings LLP
April 26, 2023- House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill...
Source: jdsupra.com