Regulatory Alerts2020-02-26 | 2020-03689Request for Information on FDIC Sign and Advertising Requirements and Potential Technological Solutions
The Federal Deposit Insurance Corporation issued a Request for Information to seek public input on modernizing its sign and advertising rules to reflect the evolution of digital and mobile banking channels. The agency aims to clarify how institutions should display FDIC insurance status across physical and online platforms while addressing consumer confusion caused by nonbank entities. Additionally, the FDIC is soliciting ideas on technological solutions to help consumers distinguish between insured banks and uninsured entities, particularly regarding potential misrepresentations by fintechs and fraudulent websites.
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