On April 16, 2020, the FDIC announced it will temporarily postpone its efforts to modify its signage and advertising requirements, known as the advertising of membership rules. In their release, the FDIC explained that they remain committed to modernizing these rules at a future date to better reflect how banks and savings associations are transforming their business models to take deposits via physical branches, digital, and mobile banking channels.
As explained in our Spring 2020 Quarterly Compliance Update, the FDIC published a Request for Information in the Federal Register on February 26, 2020 seeking input regarding potential changes to its sign and advertising rules. Then in March of 2020, the FDIC extended the comment period to April 20, 2020. This release further delays these efforts.
The FDIC release can be found here.