FDIC Signage Rule Delayed
Hot off the press! On October 17th, the FDIC board voted to delay the mandatory compliance date for the FDIC Official Sign and Advertising Rule set to go into effect January 1, 2025. The new mandatory compliance date will be May 1, 2025.
You may recall that the amendments to Subpart A of Part 328 (FDIC Official Sign and Advertisement of Membership) apply to the advertising of FDIC-insured and non-insured products. This delay will provide financial institutions with more time to implement the rules, which include creating policies and procedures, physically segregating areas for insured and non-insured products and employing new signage requirements for ATMs and digital deposit-taking channels.
While this additional time will be beneficial for your change management process and for working with any third-party vendors, we encourage you to keep moving forward.
If you need to learn more about these changes, check out our webinar, “FDIC Signs & Advertisement of Membership”, which is available now OnDemand.
Andy Zavoina
Andy Zavoina, CRCM, began his career in finance and banking in 1981 at a finance company. He landed in a proper bank in 1983 and spent 21 years in community banking. He managed loan workouts, has been a consumer, commercial and real estate lender, managed those departments, and was his bank's first webmaster. He was responsible for compliance management, auditing, and training. He then worked for BankersOnline for 21 years teaching webinars and conferences. Andy is a nationally recognized speaker at state associations and schools across the U.S. and has served on the faculty of national banking schools. He has had articles published and lectured on many facets of compliance, the use of the internet and technology as a compliance tool. Andy is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He chaired the ABA’s Compliance Executive Committee, its Editorial Advisory Board and served in other positions as well. Andy is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers.