Summary of the FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
Updated 04/18/2024
The Federal Deposit Insurance Corporation (FDIC) published a final rule (rule) amending Part 328. The final rule amends the requirements for advertising deposit insurance and FDIC membership. The rule is intended to update and modernize the advertising rules, particularly to adjust for digital advertising and digital deposit-taking channels. Key takeaways include:
- Modernizes the advertising rules for FDIC membership for a variety of channels, including physical premises and online / digital advertisements.
- Requires display of the new FDIC official digital sign on bank websites, mobile apps, ATMs, and similar machines.
- Enhances the rules related to identifying FDIC-insured products vs. non-FDIC insured products, including the “not, not, may” disclosure language.
- Mandates a one-time speed bump or notice during each web session when directing customers away from an FDIC-insured product web page to a non-FDIC-insured product or third-party website.
- Requires banks to maintain written policies and procedures for complying with Part 328.
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