The Federal Deposit Insurance Corp. is rolling back Biden-era guidance warning banks against charging customers multiple fees for insufficient funds on the same unpaid transaction.
The FDIC announced Friday it was rescinding the June 2023 guidance effective immediately, citing a review that found it was too broad in scope.
- A federal appeals court last September dismissed a bid by Minnesota bankers to block the guidance. Financial Institution Letter 32-2023 wasn’t ripe for judicial review because the FDIC never determined that related bank fee practices were unlawful, the US Court of Appeals for the Eighth Circuit concluded, affirming a lower court ...
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