There's More to FDIC's New Advertising Rule

The FDIC final rule to amend Part 328 of its regulations (FIL-65-2023) became effective April 1, 2024, with a mandatory compliance date of January 1, 2025. The amendment modernizes the rules governing the use of the official FDIC signs and advertising statements, and clarifies the FDIC’s regulation regarding false advertising, misrepresentations of deposit insurance, and misuse of the FDIC’s name and logo.

In the latest issue of Georgia Communities First magazine, Leah Hamilton, JD, Director Education Services & Compliance Risk Advisor, Sentry Advisors, LLC, breaks down the requirements

Although the FDIC has maintained regulatory requirements for advertising and displaying its official signage, the final rule is intended to enable consumers to better understand when they are conducting business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage.  Read article.

CBA’s webinar partner, Community Bankers Webinar Network, has an OnDemand webinar available for purchase, FDIC Updates: Signate, Trust Account Insurance & Advertising Requirements. Click here to learn more