Regulatory Alerts2024-01-18 | 2023-28629FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
The Federal Deposit Insurance Corporation has issued a final rule amending its regulations to modernize official sign and advertising requirements for insured depository institutions across physical, digital, and mobile banking channels. The rule mandates the display of official digital signs on websites, mobile applications, and automated teller machines, requires clear disclosures that differentiate FDIC-insured deposits from non-deposit products like crypto-assets, and clarifies standards for preventing false advertising and misrepresentation of insured status. Insured institutions must establish written compliance policies and adhere to these updated standards by January 2025, ensuring consumers can accurately determine whether their funds are protected by federal deposit insurance.