FDIC rescinds guidance on NSF fees

On April 10, the FDIC rescinded its supervisory guidance on multiple re-presentment NSF fees, effective immediately. The agency determined that the prior guidance, originally issued on June 16, 2023 (covered by InfoBytes here), was overly broad and had raised uncertainty about when disclosures regarding re-presentments may result in “unfairness” concerns under Section 5 of the FTC Act.... By: Orrick, Herrington & Sutcliffe LLP