Modernizing FDIC Insurance Requirements

The FDIC recently issued a Request for Information (RFI) on how today’s banks and savings associations offer deposit products and services and connect with consumers.  The FDIC also requests information on how technology could help distinguish between FDIC-insured and non-FDIC insured entities, especially when it comes to web and digital channels. 

You may recall that, back in February 2020, the FDIC sought input on modernizing its official sign and advertising rules.  These rules have been in place since 1935, with the last major change in 2006.  In March 2020, the FDIC extended the comment period only to postpone those efforts a month later due to COVID-19.  With a recent increase in the misuse of its name/logo, the FDIC is going to take another look at how to revise and clarify these rules. 

All comments must be received by May 24, 2021.

Published
2021/04/10

Amy Kudlacek

Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!

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