The comment deadline for an FDIC Advance Notice of Proposed Rulemaking soliciting feedback on a proposal to (i) modernize sign and advertising requirements to account for digital banking and (ii) clarify regulations regarding the advertisement of deposit insurance coverage was extended to April 7, 2023.
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The CFPB reminded companies to comply with federal consumer financial protection laws when offering "negative option" programs or subscription services.
The FDIC proposed amendments (i) to modernize sign and advertising requirements to account for banks doing business with customers not physically in a branch and (ii) to clarify regulations regarding the advertisement of deposit insurance coverage, particularly as banks may offer non-insured products, such as those involving digital assets.
The effective date for an FDIC final rule establishing a process to identify and investigate misrepresentations of FDIC deposit insurance or misuse of the agency's name and logo was set for July 5, 2022. The final rule was published in the Federal Register.
The FDIC adopted a rule establishing a process to identify and investigate potential misrepresentations of FDIC deposit insurance or misuse of the agency's name or logo. The CFPB issued related guidance.