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FINANCIAL INSTITUTION LETTER | APRIL 26, 2023 |
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SUPERVISORY GUIDANCE ON CHARGING OVERDRAFT FEES FOR AUTHORIZE POSITIVE, SETTLE NEGATIVE TRANSACTIONS
SUMMARY:
The FDIC is issuing supervisory guidance to its supervised institutions to ensure that supervised 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).
STATEMENT OF APPLICABILITY:
The contents of, and material referenced in, this FIL apply to all FDIC-supervised financial institutions.
DISTRIBUTION:
FDIC-Supervised Financial Institutions
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