Rules intended to simplify display of bank deposit insurance official digital sign and non-deposit signage on websites and mobile applications, as well as on ATMs, would be amended under a proposal issued Tuesday.
The Federal Deposit Insurance Corp. (FDIC) Board, by notation vote, issued the proposal. If made final, it would revise a 2023 final rule that established the FDIC official digital sign and required signage for ATMs and digital banking channels. The proposal, according to the FDIC however, would focus display requirements for the FDIC official digital sign and the non-deposit sign on the screens and pages where signage would be most relevant for consumers.
The agency indicated in the proposal that the amendment is aimed at reducing misunderstandings. “The proposed changes are intended to address implementation issues and sources of potential confusion that have arisen following the adoption of current signage requirements for these banking channels,” the agency said. “The proposal would provide additional flexibility to insured depository institutions (IDIs) while also enabling consumers to better understand when they are conducting business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage.”
The rule from two years ago established a new black and navy blue FDIC official digital sign. Banks would have been required to display this new sign near the name of the bank on all bank websites and mobile applications, and on certain ATMs. It also changed requirements for display of the FDIC official sign in bank branches and other physical premises, to account for evolving designs of bank branches and other physical bank locations where customers make deposits, the agency said at the time.
Public comments on the proposal are due Oct. 20.
FDIC Board Approves Proposal to Amend Official Signs and Advertising Requirements