Regulatory Alerts2020-07-24 | 2020-15224Notice of Rescission of Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products
The Federal Deposit Insurance Corporation rescinded its 2013 supervisory guidance on deposit advance products to align with broader interagency lending principles. This action replaces the standalone FDIC framework with uniform standards established by the Federal Reserve, OCC, and NCUA for responsible small-dollar lending. The updated guidance applies to all supervised financial institutions, ensuring consistent safe and sound banking practices alongside enhanced consumer protection.
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