�౦��Ϸ����

�౦��Ϸ���� (�౦��Ϸ����) has resolved a lawsuit with Advance America, Cash Advance Centers, Inc.; Check Into Cash, Inc.; and Northstate Check Exchange. Advance America et al. v. Federal Deposit Insurance Corporation et al. (D.D.C.). The lawsuit had alleged terminations of payday lender bank accounts. In exchange for the plaintiffs' agreement to dismiss the lawsuit, the �౦��Ϸ���� is issuing: (1) a statement summarizing its longstanding policies and guidance regarding the circumstances in which the �౦��Ϸ���� recommends that a financial institution terminate a customer's deposit account and reiterating preexisting public guidance to financial institutions about providing banking services and carrying out Bank Secrecy Act obligations; and (2) a cover letter transmitting the statement to the plaintiffs that reiterates prior correspondence from the �౦��Ϸ���� Chairman, summarizes applicable �౦��Ϸ���� policy, and notes that the �౦��Ϸ���� is conducting additional training of its workforce.

Neither the summarizing statement nor the cover letter represents a change in the �౦��Ϸ����'s policies or guidance, and all of the �౦��Ϸ����'s existing applicable regulations and guidance documents remain in full force and effect.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The �౦��Ϸ���� insures deposits at the nation's banks and savings associations, 5,406 as of December 31, 2018. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The �౦��Ϸ���� receives no federal tax dollars—insured financial institutions fund its operations.

�౦��Ϸ���� press releases and other information are available on the Internet at , by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html ) and may also be obtained through the �౦��Ϸ����'s Public Information Center (877-275-3342 or 703-562-2200).