🏦FDIC Delays Compliance Dates for Sign and Advertising Requirements
FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC's Name or Logo
Summary
On December 20, 2023, the FDIC adopted a final rule that, among other things, amended the FDIC's sign and advertisement of membership requirements for insured depository institutions (IDIs). The amendments made by the final rule took effect on April 1, 2024; however, full compliance with the amendments was delayed to January 1, 2025. On October 22, 2024, full compliance with the amendments to the sign and advertisement of membership requirements contained in the final rule was delayed to May 1, 2025. The FDIC is further postponing the compliance date for the requirement to display the FDIC official digital sign on an IDI's digital channels, as well as on the screen of an IDI's automated teller machine (ATM) and like devices, to March 1, 2026. During this time, the FDIC will continue to review the feedback received regarding implementation issues and potential consumer confusion that may result from requirements related to the display of the digital sign. After completing its review, the FDIC expects to propose changes to the regulation to address implementation concerns and potential sources of confusion.
Agencies
- Federal Deposit Insurance Corporation
Business Impact
$$ - Med
The content outlines regulatory compliance requirements for insured depository institutions regarding FDIC signs and advertising, with specific mandates and compliance dates that affect business operations. Delays in compliance dates and review of implementation issues can impact operational readiness.