Learning More About The FDIC’s Final Rule

By Rhonda Handy on April 16, 2024


The last time the FDIC had updated regulations regarding the official FDIC sign and advertising statement was in 2006. However, the banking industry changed drastically since that time, especially with the addition of online and mobile channels. So, late in 2023, the FDIC adopted a final rule to amend Part 328 of its regulations to:

• Modernize the FDIC rules to reflect the way we conduct financial business in today’s world.

• Help the consumer know when they are conducting business with an insured depository institution (IDI) and when their funds are FDIC insured.


Here’s what you need to know …


DATES: The final rule became effective April 1, 2024, with a compliance deadline of January 1, 2025.

FDIC Final Rule Changes: 

1. Amends rules governing the display of the FDIC official sign in branches.
2. Establishes the FDIC official digital sign and the requirements for display on bank websites, mobile apps, and ATMs, etc.
3. Requires IDIs to use disclosures to differentiate deposits from non-deposit products across all banking channels (including digital).
4. Clarifies the FDIC’s rules regarding misrepresentations of deposit insurance coverage (uses specific scenarios where consumers may have been misled by the information they received).
5. Amends the definition of non-deposit products.
6. Requires IDIs to establish and maintain written policies/procedures addressing compliance with
FDIC 12 CFR Part 328.


Digital Sign/Advertising Statement Overview and Checklist 

The biggest change for most of our bank clients was the addition of the digital sign and understanding when to use the digital sign versus the advertising statement. That’s why we created a complimentary checklist for the FDIC digital sign and the advertising statement.


Download checklist



If you haven’t already, we encourage you to discuss the FDIC final rule with your compliance team to learn more and identify the roles and responsibilities for marketing and compliance in order to meet the January deadline.


If you have further questions, please reach out: millsmarketing.com/about-us/contact-us

Topics: Marketing Compliance, INSIGHTS eNewsletter

About The Author
Rhonda Handy

Spending most days deep in the trenches of financial research and compliance, Rhonda truly enjoys solving problems and going the extra mile for both her co-workers and our clients. As a former banker, she brings a highly valued perspective to our client work, compliance and research.