[Federal Register Volume 85, Number 143 (Friday, July 24, 2020)]
[Rules and Regulations]
[Pages 44685-44686]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-15224]


=======================================================================
-----------------------------------------------------------------------

FEDERAL DEPOSIT INSURANCE CORPORATION

12 CFR Chapter III

RIN 3064-ZA17


Notice of Rescission of the Guidance on Supervisory Concerns and 
Expectations Regarding Deposit Advance Products

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of rescission of statement of policy.

-----------------------------------------------------------------------

SUMMARY: The FDIC has rescinded the Guidance on Supervisory Concerns 
and Expectations Regarding Deposit Advance Products.

DATES: July 24, 2020.

FOR FURTHER INFORMATION CONTACT: Ardie Hollifield, Senior Policy 
Analyst, Division of Depositor and Consumer Protection, (202) 898-6638; 
Karen Currie, Senior Examination Specialist, Division of Risk 
Management Supervision, (202) 898-3981; Benjamin K. Gibbs, Counsel, 
Legal Division, (202) 898-6726, Federal Deposit Insurance Corporation, 
550 17th Street NW, Washington, DC 20429. For the hearing impaired 
only, TDD users may contact (202) 925-4618.

SUPPLEMENTARY INFORMATION: On November 26, 2013, the FDIC issued final 
supervisory guidance entitled ``Guidance on Supervisory Concerns and 
Expectations Regarding Deposit Advance Products'' (2013 Deposit Advance 
Guidance), which addressed safe and sound banking practices and 
consumer protection in connection with deposit advance products.\1\ On 
May 20, 2020, the FDIC, Board of Governors of the Federal Reserve 
System, Office of the Comptroller of the Currency, and the National 
Credit Union Administration issued Interagency Lending Principles for 
Offering Responsible Small-Dollar Loans (Interagency Lending 
Principles) to encourage supervised banks, savings associations, and 
credit unions (collectively, ``financial institutions'') to offer 
responsible small-dollar loans to customers for both consumer and small 
business purposes. As discussed in its Financial Institution Letter 
transmitting the Interagency Lending Principles (FIL-58-2020), the FDIC 
has rescinded the

[[Page 44686]]

2013 Deposit Advance Guidance \2\ and replaced it with interagency 
guidance to provide uniform principles for all financial institutions.
---------------------------------------------------------------------------

    \1\ 78 FR 70552-01 (November 26, 2013).
    \2\ FIL-58-2020, Interagency Guidance for Responsible Small-
Dollar Loans (May 20, 2020).

---------------------------------------------------------------------------
Federal Deposit Insurance Corporation.

    Dated at Washington, DC, on July 9, 2020.
James P. Sheesley,
Acting Assistant Executive Secretary.
[FR Doc. 2020-15224 Filed 7-23-20; 8:45 am]
BILLING CODE 6714-01-P