On June 16, the FDIC updated its Supervisory Guidance on Multiple Re-Presentment NSF Fees to clarify its supervisory approach for addressing violations of law. This new guidance, FIL-32-2023, updates FIL-40-2022 (originally issued last August and covered by InfoBytes here), which warned supervised financial institutions that charging customers multiple non-sufficient funds (NSF) fees on re-presented unpaid transactions may increase regulatory scrutiny and litigation risk. The FDIC noted that since the issuance of FIL-40-2022, the agency has received additional data relating to the amount of consumer harm associated with NSF fees at particular institutions, as well as information regarding extensive, ongoing challenges institutions face to accurately identify re-presented transactions. Consequently, the FDIC made changes to its supervisory guidance to specify that it “does not intended to request an institution to conduct a lookback review absent a likelihood of substantial consumer harm.”