FDIC Extends Compliance Date for Subpart A of the FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
WASHINGTON – The Federal Deposit Insurance Corporation announced that it is providing financial institutions additional time to get new process and systems in place by extending the compliance date for the new FDIC signage and advertising rule from January 1, 2025, to May 1, 2025. The extension applies only to a portion of the final rule designed to modernize the rules governing use of the official FDIC signs and advertising statements – Part 328, subpart A.
The compliance date related to misrepresentations of deposit insurance coverage, subpart B of Part 328, remains January 1, 2025. The final rule, “FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo,” was approved by the FDIC Board in December 2023.
Based upon feedback from banks and other banking industry participants, the FDIC understands that some financial institutions would find it beneficial to have additional time to implement the new regulatory requirements under subpart A. The extension applies to the provisions requiring (1) the use of the FDIC official sign, official digital sign, and other signs differentiating deposits and non-deposit products across all banking channels, including physical premises, automated teller machines (ATMs) and digital channels, and (2) the establishment and maintenance of written policies and procedures to achieve compliance with Part 328.
Since the 1930s, the black and gold FDIC official sign (shown below) displayed at bank branch teller windows has given bank customers confidence that their deposited funds are safe. Depositors and consumers today have a variety of options for where they can deposit their money and how they can access banking products and services. The revisions in the final rule extend the certainty and confidence associated with the FDIC official sign to digital channels, such as bank websites and mobile applications, through which depositors are increasingly handling their banking needs.
FDIC Official Physical Sign:
The final rule establishes a new black and navy blue FDIC official digital sign. Banks will be required to display the FDIC official digital sign near the name of the bank on all bank websites and mobile applications. Banks also will be required to display the FDIC official digital sign on certain automated teller machines.
In addition, the final rule modernizes requirements for display of the FDIC official sign in bank branches and other physical premises to account for evolving designs of bank branches and other physical bank locations where customers make deposits.