As a trusted partner in the financial industry, it is our responsibility to keep you informed of the latest regulatory changes that impact your business. The Federal Deposit Insurance Corporation (FDIC) has recently announced significant updates to its membership guidelines, particularly concerning the display of FDIC membership information on digital platforms. 

Contact our forbinfi team today! 

What’s Changing? 

The FDIC has introduced a new black and navy blue logo, which must be displayed by all FDIC-insured banks on their websites and mobile applications near the name of the bank. This change is part of a broader initiative to standardize the presentation of FDIC membership and enhance public confidence in the banking system.

Compliance Date Extension

To provide financial institutions with additional time to comply with the new signage and advertising rule, the FDIC has extended the compliance date from January 1, 2025, to May 1, 2025. This extension specifically applies to Part 328, subpart A, which aims to modernize the rules governing the use of official FDIC signs and advertising statements. However, it’s important to note that the compliance date for subpart B of Part 328, which addresses misrepresentations of deposit insurance coverage, remains unchanged and is still set for January 1, 2025. For further details on this extension, please refer to the FDIC’s press release and Financial Institution Letter.

Why Does It Matter? 

The FDIC logo is a symbol of trust and stability in the financial sector. It assures customers that their deposits are protected up to the insured limit. With the digital landscape evolving, the FDIC’s move ensures that the representation of this trust adapts accordingly. 

What Do You Need to Do? 

  1. Review Your Current FDIC Information: Ensure that all mentions of FDIC membership on your website, including logos and text, are up-to-date with the latest guidelines. 

  1. Update to the New Logo: Replace the old FDIC logo with the new black and navy blue version on all digital platforms by the May 1, 2025 deadline. 

  1. Educate Your Team: Inform your staff about these changes so they can accurately communicate the updates to your customers. 

How Can We Help? 

If you have a site with us, forbinfi is equipped to assist you in navigating these updates smoothly.

  • Audit Your Website: We’ll review your current FDIC information and identify areas that need updating. 

  • Implement the New Logo: Our team will handle the technical aspects of updating your website and mobile app with the new FDIC logo. 

However, if you don’t have a site with us, we recommend reaching out to your web provider so they can help implement this change. 

Adhering to the FDIC’s updated guidelines is not just a regulatory requirement; it’s an opportunity to reaffirm your commitment to your customers’ financial safety. 

Take action now to ensure compliance by the May 1, 2025 deadline. Contact forbinfi for more information on updating the FDIC logo on your forbinfi website and mobile application.