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.