FDIC Issues 2025 Consumer Compliance Supervisory Highlights
The Federal Deposit Insurance Corporation (FDIC) recently published the Summer 2025 Consumer Compliance Supervisory Highlights. The purpose of the Consumer Compliance Supervisory Highlights is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2024 through the FDIC’s supervision of state non-member banks and thrifts.
This issue includes:
A summary of the overall consumer compliance performance of FDIC-supervised institutions in 2024,
A description of the most frequently cited violations; and,
An overview of consumer complaint trends.
Of note is the significant increase in civil money penalties (CMP) assessed in 2024 by the FDIC.
The FDIC issued CMP orders against institutions in 2024 to address violations of the Flood Disaster Protection Act (FDPA), Section 5 of the FTC Act, the Home Mortgage Disclosure Act, and unsafe and unsound banking practices related to an institution’s compliance with various consumer financial protection laws and regulations.
In addition, during 2024 supervised institutions provided voluntary restitution payments totaling $33.3 million to approximately 400,000 consumers for violations of various consumer protection laws and regulations. This figure is up from $10.6 million in voluntary restitution payments in 2023.
The following is a link to the current issue as well as past issues.
Consumer Compliance Supervisory Highlights
SCA has recently noted that this trend is continuing into 2025! Please see SCA’s June 26th blog post about FDPA CMPs are on the Rise in 2025. Link - 6/26 Flood-CMPs-on-the-rise
Please contact our Director, Bill Dolan, at WDolan@scapartnering.com (or by phone at (617) 694-2617), and schedule a time to speak with us for a review of your Compliance Program and ensure your institution doesn't get caught up in this trend.
