This wouldn't account for double quotes within the field data.

It's amazing how many different ways everyone's taken to read a standard format. I thought I'd add this excerpt from the RFC 4180. So far, I haven't found a way to read a CSV line that takes into account all of the requirements of the escaped field, specifically with the LF character. To see this for yourself, create a new Excel workbook, data into a field and use Alt+Enter a few times, and then save the file as a CSV file. The line feeds are within the field data.

The ABNF grammar [2] appears as follows:
file = [header CRLF] record *(CRLF record) [CRLF]
header = name *(COMMA name)
record = field *(COMMA field)
name = field
field = (escaped / non-escaped)
escaped = DQUOTE *(TEXTDATA / COMMA / CR / LF / 2DQUOTE) DQUOTE
non-escaped = *TEXTDATA
COMMA = %x2C
CR = %x0D ;as per section 6.1 of RFC 2234 [2]

This is great except in the instance where you don't know the descriptors. We utilize CSVTOCLASS for situations where we do.

I was able to find in the documentation where it's stated that multi-line characters unsupported.

I attempted to use the following as the line terminator, which is in fact a CRLF. For some reason, it terminates even when only the LF occurs.

S fi.LineTerminator = $c(13,10)

Here's the next challenge, and one that I'm encountering using the $$CSVtoList^%occLibrary... line feeds within the field data (enclosed in double quotes).

The line ends with CRLF, and within the double quote enclosed field there appears 
 followed by a Line feed. The RFC 4180 standard states this should be acceptable, but I'm reviewing how to review this now. Any thoughts?

This works beautifully.

Are you aware of where the %occLibrary documentation may be referenced?

I'd like to know this as well. It would definitely save me a lot of time by referencing this documentation.