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.
David Dickinson
David’s banking career began as a field examiner for the FDIC in 1990. He later became a Compliance Officer and Loan Officer for a small bank. In 1993, he established Banker’s Compliance Consulting. Along with his amazingly talented Team, he has written numerous compliance articles for prestigious banking publications and has developed compliance seminars that Banker’s Compliance Consulting produces.
He is an expert in compliance regulations. He is also a motivational speaker and innovative educator. His quick wit and sense of humor transforms the usually tiring topic of compliance into an enjoyable educational experience. David is on the faculty of the American Bankers Association National Compliance Schools and has served on the faculty of the Center for Financial Training for many years. He also is a frequent speaker at the ABA’s Regulatory Compliance Conference. He is also a trainer for hundreds of webinars, is a Certified Regulatory Compliance Manager (CRCM) and has been a BankersOnline Guru for many years. The American Bankers Association honored David with their Distinguished Service Award in 2016.
David and his wife Karen have three adult children, four grandchildren (none of whom live at home!) and two cats (of which Dave is allergic … the cats, not the children!). They recently moved to an acreage outside of Lincoln, Nebraska where he gets to play with his tractor. When possible David can be found fishing, making sawdust in his shop, or playing the guitar and piano. He also enjoys leading worship at his church.