FDIC Proposed Rule and Information Requests Target False Adv

FDIC Proposed Rule and Information Requests Target False Advertising, Use and Misuse of FDIC Name and Logo | Ballard Spahr LLP


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The Federal Deposit Insurance Corporation (FDIC) recently issued a notice of proposed rulemaking (NPR) and request for information (RFI) addressing “False Advertising, Misrepresentation of Insured Status and Misuse of the FDIC’s Name or Logo”.
Under this NPR, the title of 12 CFR Part 328, currently “Advertisement of Membership” would be changed to “Advertisement of Membership, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo.” The current official sign and advertising rules set forth in 12 CFR §§ 328.0 through 328.4 would be redesignated as subpart A, to be entitled “Advertisement of Membership”. Proposed 12 CFR §§ 328.100 through 328.108 (the “Proposed Rule”) would be added as a new subpart B to 12 CFR Part 328 to implement Section 18(a)(4) of the Federal Deposit Insurance Act, 12 U.S.C. §1828(a)(4), entitled “False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo.”

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