Unfair Returned Deposited Item Fee Assessment Practices

On October 26, the CFPB released Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices. The Bulletin states that having “blanket policies of charging Returned Deposited Item fees to consumers for all returned transactions irrespective of the circumstances of the transaction or patterns of behavior on the account are likely unfair.” The Consumer Financial Protection Act (CFPA) prohibits covered persons … Read More

September 2022’s Regulatory Recap

September 2022’s Regulatory Recap is now available here. It includes FinCEN’s new Beneficial Ownership Information Reporting Requirements rule, and guidance from the CFPB, and others. Our audit schedule for 2023 is beginning to fill up. Now is the time to get on our calendar if you are looking for audits.  Take a look at our list of available audits here.  … Read More