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#664810 - 01/11/07 04:46 PM
Member FDIC on promotional products, etc
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Joined: Jan 2007
Posts: 3
Durango, CO
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As part of an internal discussion with out compliance folks regartding use of member FDIC or the FDIC logo whenever we use our logo I have been reading section, 328.3 Mandatory requirements with regard to the official advertising statement and manner of use by banks, it seems to me that promotional items receive exclusion because not only are they small, but because they are promotional in nature and not advertisements.
My conclusion is further is that our logo does not need to be accompanied by the FDIC logo or Member FDIC when it is not being used in an advertisement – such as on a t-shirt or literature produced by an event we are sponsoring.
I draw this conclusion based upon the fact that promotional products seem to be specifically excluded as is bank stationary, as well as radio and TV ads that do not exceed 30 seconds.
Please let me know how you are dealing with this and why.
Thanks,
Matt
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#665247 - 01/11/07 10:44 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Joined: Oct 2000
Posts: 40,086
Cape Cod
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Unfortunately, there is no definition of "advertisement" in the current rule. But there is one in the new rule that you'll have to comply with this fall. And "nonspecific ads" that don't promote products (but include the bank name) need the official advertising statement or the FDIC logo (under the new rule, and, in my opinion, the current rule, too).
Even the current rule limits the exception for promotional material to those on which it is impractical to include the FDIC logo or ad statement. It's not based on whether the item is an ad. And when you really think about it, the bank didn't pay to have its name put on that little keychain, T-shirt, calendar or pencil just for the hell of it. They are ads.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#738230 - 05/22/07 08:54 PM
Re: Member FDIC on promotional products, etc
John Burnett
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Gold Star
Joined: Jun 2002
Posts: 310
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When you have the bank's logo (name) on a promotional item and the item is large enough that the FDIC logo could be placed on the promotional item, does the FDIC logo need to be placed with the bank's logo (name) if there is no advertisement such as Anytown Bank, offering a full range of banking services. The promotional item just states Anytown Bank. Thanks for any help.
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#738428 - 05/23/07 01:17 PM
Re: Member FDIC on promotional products, etc
tjbanker
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Joined: Oct 2000
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Cape Cod
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Ads that only include an insured bank's name, with no specific reference to products, are required to include the FDIC membership statement (in some form). The test for whether the statement needs to be on promotional items is whether it's impractical to include the statement.
IMO, the example in the regulation that includes the wording "offering a full range of banking services" creates a problem because it suggests that in order to be an ad you have to have something besides the bank's name. I disagree. You would not spend the money to have your bank's name on a "promotional item" if its purpose was not to get your bank's name in front of the public. I believe a promotional item is an advertisement by definition if it carries your bank's name.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#738506 - 05/23/07 01:59 PM
Re: Member FDIC on promotional products, etc
John Burnett
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Gold Star
Joined: Jun 2002
Posts: 310
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Thanks for the verification John.
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#745586 - 06/04/07 02:53 PM
Re: Member FDIC on promotional products, etc
John Burnett
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100 Club
Joined: Nov 2004
Posts: 138
Somewhere on a beach
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Under the new rules if employees have a name badge with the bank's name on it, would it require the FDIC membership? Does it matter if they will wear the badge inside the bank premises or outside the bank premises?
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#747391 - 06/06/07 12:31 PM
Re: Member FDIC on promotional products, etc
wavewatcher
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Joined: Nov 2000
Posts: 18,762
Central City, NE
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My opinion: You don't need "Member FDIC" on name tags. It's not an advertisement, it's a name tag that identifies the person. FDIC Member and EHL (words only because of the size).
We did that under abundance of caution since we use our name badges at promotional sites and trade shows. Now to a tangent: Name badges aren't very big. Why say "Equal Housing Lender"? Most certainly, this isn't a home loan ad? Even if the person is at a home loan show. Second, it should be "Member FDIC" not "FDIC Member". Quite honestly, I wouldn't worry about any of this.
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#1877681 - 12/11/13 04:01 PM
Re: Member FDIC on promotional products, etc
wavewatcher
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Joined: Dec 2013
Posts: 1
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We redesigned our name badge with that thought in mind: Name of Bank Name of Person FDIC Member and EHL (words only because of the size)
We did that under abundance of caution since we use our name badges at promotional sites and trade shows. FDIC regulates that the "doghouse" logo must be present in advertising rather than just the words. OCC regulated banks do not require the "doghouse" though.
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#2012022 - 05/05/15 01:34 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Joined: Jan 2010
Posts: 1,028
Utopia
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Bringing this old thread to life! We would like to supply each employee with a golf shirt to wear to work during the summer months on Fridays. The shirt will have the bank logo on it, should it include member FDIC? I have been to training classes that state yes, but the rule to me is not clear on this.
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#2012048 - 05/05/15 02:37 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Joined: Nov 2000
Posts: 18,762
Central City, NE
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There's an exception for "where it's impractical" [§328.3(d)]. If you think it's impractical to put "Member FDIC" on the golf shirt, you can try to hang your hat on this exception. Otherwise, the shirt needs it. I would put it on the shirt to avoid the potential argument.
Advertisements which are of the type or character making it impractical to include thereon the official advertising statement including, but not limited to, promotional items such as calendars, matchbooks, pens, pencils, and key chains;
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#2012050 - 05/05/15 02:38 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Joined: Jan 2010
Posts: 1,028
Utopia
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Thank you
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#2026771 - 07/13/15 04:13 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Diamond Poster
Joined: Jan 2010
Posts: 1,028
Utopia
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Another FDIC question!
Would the exception extend to Debit Cards? Or should we have Member FDIC on them?
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#2026780 - 07/13/15 04:35 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Posts: 83,227
Galveston, TX
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None of mine have it on it. What about a debit card would trigger inclusion?
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com
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#2026842 - 07/13/15 07:14 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Posts: 40,086
Cape Cod
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Start with the question "Is this an advertisement?" If the answer is no, you don't have a problem.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#2031130 - 07/31/15 05:44 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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Joined: Jul 2001
Posts: 83,227
Galveston, TX
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A plastic card used for conducting transactions is not an advertisement, plain and simple.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com
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#2031580 - 08/04/15 06:06 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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10K Club
Joined: Oct 2000
Posts: 40,086
Cape Cod
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You got Randy's vote, and I concur. It's just not an advertisement.
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John S. Burnett BankersOnline.com Fighting for Compliance since 1976 Bankers' Threads User #8
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#2118162 - 02/14/17 05:10 PM
Re: Member FDIC on promotional products, etc
Matt Kelly
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100 Club
Joined: Jan 2008
Posts: 242
Minnesota
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Bringing this old thread back to life again...
Do promotional items with the Bank's name that are considered advertisements have a certain retention period? Would they fall under the Reg. DD two year retention? Or, since they are not specifically mentioning a deposit product, would they be exempt from that?
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