Supervisory Guidance on Charging Overdraft Fees for Authorize Positive, Settle Negative Transactions

The FDIC issued Supervisory Guidance (FIL-19-2023) to ensure that institutions are aware of the consumer compliance risks associated with assessing overdraft fees on a transaction that was authorized against a positive balance but settled against a negative balance (APSN). The guidance expands on an FDIC 2019 Supervisory Highlights article titled “Overdraft Programs:  Debit Card Holds and Transaction Processing” by discussing … Read More

Bulletin B-23-03 (Wire Fraud Alert and Recommendations)

The Washington State Department of Financial Institutions, Division of Credit Unions has published Bulletin B-23-03 (Wire Fraud Alert and Recommendations). We have reprinted it below for your convenience –   Wire Fraud Alert and Recommendations Based on reports and incidents from consumers in Washington State, the Division would like to emphasize the importance for Credit Unions to exercise a heightened … Read More

March 2023’s Regulatory Recap

March 2023’s Regulatory Recap is now available here. This month’s Recap includes the new Small Business Lending Reporting rule from the CFPB, analytics on buy now, pay later borrower profiles, junk fees, and mail-theft related check fraud. Please be advised that CSG provides financial services compliance audit and consulting services to our clients.  The services that we provide include certain … Read More