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Comment Period: FDIC Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo

AGENCY:

Federal Deposit Insurance Corporation.

ACTION:

Notice of proposed rulemaking and request for comment.

SUMMARY:

The Federal Deposit Insurance Corporation (FDIC) is seeking comment on a proposal to modernize the rules governing use of the official FDIC sign and insured depository institutions’ (IDIs) advertising statements to reflect how depositors do business with IDIs today, including through digital and mobile channels. The proposed rule also would clarify the FDIC’s regulations regarding misrepresentations of deposit insurance coverage by addressing specific scenarios where consumers may be misled as to whether they are doing business with an IDI and whether their funds are protected by deposit insurance. The proposal is intended to enable consumers to better understand when they are doing business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage.

DATES:

The Federal Deposit Insurance Corporation (FDIC) today announced a 45-day extension to the public comment period for proposed changes to its regulations relating to the FDICā€™s official sign, the FDICā€™s official advertising statement, misrepresentations of deposit insurance coverage, and misuse of the FDICā€™s name or logo. Comments must be received by the FDIC no later than April 7, 2023.

  • April 7, 2023
  • Time: All Day