On October 17, 2024, the FDIC announced that it is providing financial institutions additional time to get new processes and systems in place by extending the compliance date for the new FDIC signage and advertising rule from January 1, 2025, to May 1, 2025. The extension applies only to a portion of the final rule designed to modernize the rules governing the use of the official FDIC signs and advertising statements, that is Part 328, subpart A.
Based on feedback from banks and other participants in the banking industry, the FDIC recognizes that some financial institutions would benefit from additional time to implement the new regulatory requirements outlined in subpart A. This extension specifically applies to two key provisions:
The requirement to utilize the FDIC official sign, official digital sign, and other signage to clearly distinguish between deposits and non-deposit products across all banking channels, including physical locations, automated teller machines (ATMs), and digital platforms; and
The obligation to develop and maintain written policies and procedures to ensure compliance with Part 328.
This extension aims to support institutions in meeting these important regulatory standards effectively. The compliance date related to misrepresentations of deposit insurance coverage, subpart B of Part 328, remains January 1, 2025.
Read the FDIC’s announcement here.
The Federal Register Notice can be found here.