Q&As cover implementation of FDIC’s revised rule on use of official sign, advertising statements

Requirements of last year’s regulatory revisions on banks’ use of the federal bank deposit insurance agency’s official sign and more are addressed in a set of questions and answers announced recently by the agency.

Late last week, the Federal Deposit Insurance Corp. (FDIC) said in a financial institution letter that it has published a set of Q&As addressing the final rule, issued in December, on FDIC officials signs and advertising requirements, false advertising, misrepresentation of insured status, and misuse of the FDIC name or logo.

The Q&As, it said, are a collection of the most frequently asked questions that the agency has received to date from stakeholders, including banks, trade associations, technology companies, vendors, and other entities.

Among the answers provided is the compliance deadline for the final rule’s amendments: Jan. 1, 2025. Insured depository institutions, the agency notes, are nevertheless permitted to begin posting the official digital sign and implementing other aspects of the regulation in advance of that date.

FDIC FIL-56-2024

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