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FDIC | RIN: 3064-AF71 | Publication ID: Spring 2021 |
Title: ●False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC's Name or Logo | |
Abstract:
The FDIC is seeking comment on a proposed rule codifying a portion of the Federal Deposit Insurance Act (12 U.S.C. 1828(a)(4)), which prohibits any person from misrepresenting the extent and manner of FDIC deposit insurance with respect to particular entities or to the industry generally. This subpart would apply to any person who: falsely represents or implies that any deposit liability, obligation, certificate, or share is insured or guaranteed by the FDIC by use of the words making up the acronym FDIC or use of the FDIC logo or symbol; or who knowingly misrepresents that any deposit is insured by the FDIC or the extent to which, or the manner in which, any deposit is insured. |
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Agency: Federal Deposit Insurance Corporation(FDIC) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 328.101 et seq. | |
Legal Authority: 12 U.S.C. 1818(a) 12 U.S.C. 1819(Tenth) 12 U.S.C. 1828(a)(4) |
Legal Deadline:
None |
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Timetable:
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Additional Information: Email: comments@fdic.gov. Please include RIN 3064-AF71 in the subject line of correspondence. | |
Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.fdic.gov/regulations/laws/federal/ | Public Comment URL: https://www.fdic.gov/regulations/laws/federal/ |
RIN Data Printed in the FR: No | |
Agency Contact: Richard M. Schwartz Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-7424 Email: rischwartz@fdic.gov Michael Farrell Counsel Federal Deposit Insurance Corporation 550 17th Street NW, Washington, DC 20429 Phone:202 898-3853 Email: mfarrell@fdic.gov |