A final rule amending regulations for the digital display of a bank’s federally insured status is set to take effect March 2, with compliance required by April 1, according to a notice Thursday in the Federal Register.
The rule, approved Jan. 22 by the Federal Deposit Insurance Corp. (FDIC) Board, applies to signage requirements for insured depository institutions’ (IDIs) digital deposit-taking channels and automated teller machines (ATMs) and like devices, the notice says.
Regarding official sign display, the rule adopts proposed changes regarding digital deposit-taking channels and explicitly provides that the sign is required only on the first page or screen of the deposit account opening process. The final rule, the notice says, requires IDIs to display the FDIC official digital sign clearly, continuously, and conspicuously on the (1) initial page or homepage of the website or application; (2) login page; and (3) page or screen where the consumer first initiates a deposit account opening.
“The final rule ensures that signage appears where it is most valuable to consumers without requiring the repetitive display of the official digital sign on successive pages or screens,” the notice states. It adds that the rule “does not prohibit the inclusion of uninsured products on pages bearing the FDIC official digital sign.” It says agency regulations prohibiting deposit insurance misrepresentations, including those using agency-associated images such as the FDIC official digital sign, “provide sufficient safeguards against such misrepresentations or confusion that may occur if the FDIC official digital sign is displayed on pages that include uninsured products.”
In other details, the final rule requires that the text of the official digital sign be navy blue or black (but does not mandate specific color codes) and the use of Source Sans Pro Web or any other similar font. The agency said it will continue to provide a standardized, but optional, digital official sign to IDIs via FDICconnect.
See the notice for more.
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