Consumer Compliance Supervisory
HIGHLIGHTS
Federal Deposit Insurance Corporation
March 2024
HIGHLIGHTS
Federal Deposit Insurance Corporation
March 2024
i | Consumer Compliance Supervisory Highlights
Contents
Introduction .......................................................................................................................... 1
Summary of Overall Consumer Compliance Performance in 2023 ................................... 2
Most Frequently Cited Violations ........................................................................................ 3
Consumer Compliance Examination Observations ............................................................ 5
Part 328: Third-Party’s Misrepresentations of Insured Status and Misuse of FDIC’s
Name or Logo ............................................................................................................................................... 5
Section 5 of the FTC Act: Substantiating Claims in the Advertising of Credit Builder
Products ......................................................................................................................................................... 6
Regulation E: Managing EFT Dispute Investigations Handled by Third Parties ......................... 8
RESPA Section 8: Payments for Mortgage Brokerage Services ......................................................... 9
Fair Lending: Building Strong Third-Party Oversight and Internal Controls............................... 11
Fair Lending: Evaluating Compliance with Anti-Discrimination Laws and Regulations........... 12
Regulatory and Other Developments................................................................................... 14
Supervisory Guidance on Charging Overdraft Fees for Authorize Positive, Settle Negative
(APSN) Transactions................................................................................................................................... 14
Agencies Request Comment on Automated Valuation Models (AVM) Proposed Rule................. 14
Updates on FDIC Efforts to Address Appraisal Bias ............................................................................. 15
Interagency Guidance on Third-Party Risk Management ................................................................. 15
FDIC Clarifying Supervisory Approach Regarding Supervisory Guidance on Multiple
Re-Presentment NSF Fees ........................................................................................................................ 16
FDIC Launches Banker Engagement Site ............................................................................................... 16
Community Reinvestment Act Rulemaking ......................................................................................... 16
FDIC Office of the Ombudsman Updates Post-Examination Surveys ............................................. 16
Final Rule Relating to FDIC Official Signs and Advertising Requirements, False Advertising,
Misrepresentations of Insured Status, and Misuse of the FDIC’s Name or Logo ......................... 17
Deposit Insurance Misrepresentation Advisory Letters..................................................................... 18
Resources for Financial Institutions ................................................................................. 19
Banker Resource Center ............................................................................................................................. 19
An Overview of Consumer Complaint Trends .................................................................... 20
Contents
Introduction .......................................................................................................................... 1
Summary of Overall Consumer Compliance Performance in 2023 ................................... 2
Most Frequently Cited Violations ........................................................................................ 3
Consumer Compliance Examination Observations ............................................................ 5
Part 328: Third-Party’s Misrepresentations of Insured Status and Misuse of FDIC’s
Name or Logo ............................................................................................................................................... 5
Section 5 of the FTC Act: Substantiating Claims in the Advertising of Credit Builder
Products ......................................................................................................................................................... 6
Regulation E: Managing EFT Dispute Investigations Handled by Third Parties ......................... 8
RESPA Section 8: Payments for Mortgage Brokerage Services ......................................................... 9
Fair Lending: Building Strong Third-Party Oversight and Internal Controls............................... 11
Fair Lending: Evaluating Compliance with Anti-Discrimination Laws and Regulations........... 12
Regulatory and Other Developments................................................................................... 14
Supervisory Guidance on Charging Overdraft Fees for Authorize Positive, Settle Negative
(APSN) Transactions................................................................................................................................... 14
Agencies Request Comment on Automated Valuation Models (AVM) Proposed Rule................. 14
Updates on FDIC Efforts to Address Appraisal Bias ............................................................................. 15
Interagency Guidance on Third-Party Risk Management ................................................................. 15
FDIC Clarifying Supervisory Approach Regarding Supervisory Guidance on Multiple
Re-Presentment NSF Fees ........................................................................................................................ 16
FDIC Launches Banker Engagement Site ............................................................................................... 16
Community Reinvestment Act Rulemaking ......................................................................................... 16
FDIC Office of the Ombudsman Updates Post-Examination Surveys ............................................. 16
Final Rule Relating to FDIC Official Signs and Advertising Requirements, False Advertising,
Misrepresentations of Insured Status, and Misuse of the FDIC’s Name or Logo ......................... 17
Deposit Insurance Misrepresentation Advisory Letters..................................................................... 18
Resources for Financial Institutions ................................................................................. 19
Banker Resource Center ............................................................................................................................. 19
An Overview of Consumer Complaint Trends .................................................................... 20