In case you missed it, the FDIC released a Final Rule to update its advertising requirements which is a culmination of many changes within the industry since the Rule was last updated. For example, the way people conduct transactions today is very different than even just a few years ago; likewise, financial institution product offerings are much different, etc.
The Rule lays out specific requirements for signs inside an institution; introduces new digital signs for online/mobile banking; and lays out specific requirements for ATMs and/or ITMs, etc. The Rule also requires signs to designate where non-deposit products, that are not FDIC-insured, are being offered or accessed. In short, the FDIC wants to make sure individuals know whether or not they are dealing with products that are protected by FDIC insurance.
This Rule goes into effect on April 1, 2024, with a mandatory compliance date of January 1, 2025.
Published
2024/03/08