Joint Ownership Deposit Accounts

Joint Ownership Deposit Accounts
Subject: Deposit insurance
Agency: FDIC
Status: Proposed rule
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on a proposed rule that would amend the regulation governing one of the requirements for an account to be separately insured as a joint account. Specifically, the proposed rule would provide an alternative method to satisfy the “signature card” requirement. Under the proposal, the “signature card” requirement could be satisfied by information contained in the deposit account records of the insured depository institution establishing co-ownership of the deposit account, such as evidence that the institution has issued a mechanism for accessing the account to each co-owner or evidence of usage of the deposit account by each co-owner. The proposed rule would not introduce new requirements with respect to the requirements for an account to be insured as a joint account, and would not reduce or affect insurance coverage for any account for which the existing joint account requirements are satisfied.
FR Doc: 2019-06534
Date proposed: March 29, 2019
Comments due date: May 6, 2019
Final rule effective date:


Rule compliance date:
Agency release:
Related Reg Report item(s):

Proposed rule aims to give large banks a break in recordkeeping requirements

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