FDIC Rules and Regulations for Advertisement of Membership PDF

X. Other — Advertisement of Membership Advertisement of Membership—Part 328 of FDIC Rules and Regulations Requests should indicate the number of each requested item needed and the name and address of the financial institution. Introduction 2. If the financial institution sells, on-premises, nonde...

X. Other — Advertisement of Membership Advertisement of Membership—Part 328 of FDIC Rules and Regulations Requests should indicate the number of each requested item needed and the name and address of the financial institution. Introduction 2. If the financial institution sells, on-premises, nondeposit investment products or insurance products, determine whether such activities (including any promotional materials) do not mislead consumers as to the products’ insured status and comport with the Interagency Statement on Retail Sales of Nondeposit Investment Products and Part 343 of the FDIC Rules and Regulations (Consumer Protection in Sales of Insurance). These examination procedures were developed to assist examiners in the review of advertisements and signs for compliance with Part 328 of the FDIC Rules and Regulations. 1 The regulation contained in this part describes the official sign of the FDIC and prescribes its use by insured depository institutions. It also prescribes the official advertising statement insured depository institutions must include in their advertisements. For purposes of Part 328, the term “insured depository institution” includes insured branches of a foreign depository institution. The regulation does not apply to noninsured offices or branches of insured depository institutions located in foreign countries. Examination Objective The objective of the examination is to: • Determine whether public advertisements and signs comply with applicable regulatory requirements and adhere to FDIC guidance. Examination Procedures 1. Determine whether the official sign is properly displayed at each station or window where deposits are received, in accordance with the requirements of §§ 328.1 and 328.2, including the requirements for varied signs in § 328.2(a)(2). NOTE: Display of the official sign at automated teller machines (ATMs) is not required. NOTE: If required official sign is missing or obsolete, inform management of the availability of this item from the FDIC upon request and that it may be obtained by faxing a written request on bank letterhead to: FAX: (703) 516-5201 3. Determine whether the official advertisement statement (as set forth in § 328.3(b)) is properly included in all advertisements (as defined in § 328.3(a)) that either promote deposit products or promote non-specific banking products and services, unless an exception in § 328.3(d) applies. Review for compliance with the restrictions in § 328.3(e)(4) on using the official advertising statement when advertising nondeposit products. 4. If the official advertisement statement “M ember FDIC” is in a language other than English, determine whether prior written approval of the translation was obtained from the FDIC. (§328.3(f)) 5. Provide a comment in the Report of Examination for any deficiencies noted during the examination. References FDIC Rules and Regulation Part 328; Advertisement of Membership FDIC Rules and Regulation Part 343; Consumer Protection in Sales of Insurance FIL 9-94: Interagency Statement on Retail Sales of Nondeposit Investment Products FIL 40-2010: Standard Deposit Insurance Coverage Amount of $250,000 Made Permanent; Official FDIC Sign Updated and Available FIL 46-98: Guidance on the Use of Trade Name – Interagency Statement on Branch Names Or via FDICconnect at: https://www.fdicconnect.gov/index.asp ____________________ 1 P ursuant to 12 U.S.C. §§ 1821(a)(1)(F), beginning April 1, 2010, and every succeeding 5 years, subject to approval by the FDIC and NCUA, the current standard maximum deposit insurance amount is subject to an inflation adjustment. FDIC Consumer Compliance Examination Manual — May 2023 X–1.1