Skip to content
BOL Conferences
Thread Options
#2164907 - 02/16/18 03:52 PM Member FDIC and Periodic Statements
TeamComply Offline
Platinum Poster
Joined: Aug 2016
Posts: 543
Is the member FDIC logo required on periodic statements or can the phrase "Member FDIC" be used without the logo? Where is this rule/topic addressed? Thanks.

Return to Top
Deposits and Payments
#2164919 - 02/16/18 04:25 PM Re: Member FDIC and Periodic Statements TeamComply
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,393
Galveston, TX
Your periodic statements are advertising? Either is always acceptable.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2164929 - 02/16/18 04:39 PM Re: Member FDIC and Periodic Statements TeamComply
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,763
Central City, NE
You don't need "Member FDIC" or the logo on your statements. They are exempt under §328.3(d). If you'd like, you can use either, as Randy stated.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#2164970 - 02/16/18 05:30 PM Re: Member FDIC and Periodic Statements David Dickinson
TeamComply Offline
Platinum Poster
Joined: Aug 2016
Posts: 543
Thanks for the response. What specific exemption do they fall under? I don't see statements included among the list?

Return to Top
#2165045 - 02/16/18 08:12 PM Re: Member FDIC and Periodic Statements TeamComply
John Burnett Offline
10K Club
John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
I'd include them in the "etc." at the end of 328.3(d)(2). But if you advertise deposit accounts on your statement (think statement message), you avoid any argument over the matter if you include "Member FDIC" in the ad (if it's not preprinted on the statement stock).
Last edited by John Burnett; 02/16/18 08:14 PM.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

Return to Top

Moderator:  John Burnett