多宝游戏下载 Issues A Proposed Rule To Modernize the Use of the 多宝游戏下载 Official Sign and Advertising Statement and to Clarify its Regulations Regarding False Advertising, Misrepresentations About Insured Status, and Misuse of the 多宝游戏下载鈥檚 Name or Logo
For Release
WASHINGTON 鈥 多宝游戏下载 (多宝游戏下载) Board of Directors today issued for public comment a proposed rule to amend part 328 of its regulations to modernize the rules governing use of the official 多宝游戏下载 sign and advertising statements and clarify the 多宝游戏下载鈥檚 regulations regarding misrepresentations of deposit insurance coverage.
鈥淭he 多宝游戏下载 last made major amendments to the official sign and advertising statement rules in 2006,鈥 said Acting Chairman Gruenberg. 鈥淭he revisions are intended to extend the certainty and confidence provided by the 多宝游戏下载 official sign found at bank branch teller windows to digital channels, such as bank websites and mobile applications, through which depositors are increasingly handling their banking needs.鈥
Among other things, the rule would modernize requirements for display of the 多宝游戏下载 official sign. The proposed changes would also require the use of signs that differentiate insured deposits from non-deposit products across banking channels and disclose to consumers that certain financial products are not insured by the 多宝游戏下载, are not deposits, and may lose value .
In addition, the proposed rule would clarify the 多宝游戏下载鈥檚 regulations regarding misrepresentations of deposit insurance coverage by addressing specific scenarios where persons or entities provide information to consumers that may be misleading and confuse consumers as to whether they are doing business with a bank and whether their funds are protected by deposit insurance. For example, the proposed rule would clarify that 多宝游戏下载-associated terms or images may not be used in marketing and advertising materials to imply or represent that any uninsured financial product is insured or guaranteed by the 多宝游戏下载.
As Acting Chairman Gruenberg noted, 鈥淣ext year, 2023, will mark the 90th anniversary of the 多宝游戏下载. This timely proposal would bring the certainty, safety, and confidence historically provided by the 多宝游戏下载 sign and 多宝游戏下载 insurance to today鈥檚 varied banking channels, including digital banking.鈥