FDIC Guidance on Deposit Advance Products

On November 21, the FDIC issued final supervisory guidance to FDIC-supervised financial institutions with respect to the risks imposed by certain deposit advance products.  The FDIC encourages banks to: (i) continue to offer these products, consistent with safety and soundness and other supervisory considerations and (ii) develop new or innovative programs to effectively meet the need for small-dollar credit.  FDIC ReleaseFinal Guidance.