Earlier this week, the Federal Deposit Insurance Corporation (FDIC) has announced a delay in the compliance deadline for certain provisions of its Sign and Advertising Rule. Originally set to take effect on May 1, 2025, the new rules will now be postponed until March 1, 2026. This delay applies to requirements for displaying the FDIC’s official sign on digital channels and ATMs. The FDIC cited concerns about potential consumer confusion and the need for further […]
Category: FDIC
Who’s Who at the Helm?
Who’s Who at the Helm of Federal Banking Regulatory Agencies? Newly inaugurated President Trump signed his first batch of Executive Orders on January 20, 2025. Among them was an Executive Order that included a regulatory freeze, blocking all regulatory agencies from proposing or issuing any rules until they are reviewed and approved by a Trump-appointed executive. We have started to see those Trump-appointed executives take their places across the financial regulatory agencies and expect them […]
Federal Regulators Extend Comment Period For RFI on Bank-Fintech Partnerships
On September 13, 2024, Federal regulators (FDIC, OCC, FBR) announced an extension of the comment period for its Request for Information (RFI) concerning partnerships between banks and financial technology (fintech) companies. Originally set to close at the end of September 2024, the new deadline is now October 30, 2024. Key Highlights of the Announcement Purpose of the RFI: The regulators aim to gather insights on the evolving landscape of bank-fintech partnerships, particularly regarding how these […]
FDIC Releases Second Set of Q&A on Required Use of FDIC Logo: Key Takeaways for Financial Institutions
FDIC Releases Second Set of Q&A on Required Use of FDIC Logo: Key Takeaways for Financial Institutions In a move to ensure clarity around compliance with its regulations, the Federal Deposit Insurance Corporation (FDIC) has issued a second set of Questions and Answers (Q&A) on its final rule, “Use of the FDIC Official Sign and Advertising Statement” (Part 328). This new release builds on the FDIC’s ongoing efforts to promote transparency and guide banks […]
FDIC Enforcement Actions Released for May 2023
Last Friday, the FDIC released its list of administrative enforcement actions against bankers and individuals in May of this year. The release outlined four enforcement actions consisting of two orders of prohibition, one consent and personal consent order, and one order to pay a civil money penalty. Interestingly, the civil money penalty was ordered against an individual officer of the bank. The enforcement action orders Brenda Faye Barnes, of FNB Bank, now known as Cadence […]