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#2762 - 07/06/01 01:26 PM FDIC LOBBY NOTICE
lizh Offline
New Poster
Joined: Feb 2001
Posts: 3
new brunswick nj
Folks -
If this is a 'stupid' question that I SHOULD know, I apologize. However, I cannot seem to find the 'answer' in my research.

Q: Is there a regulatory requirement that a bank's FDIC CERTIFICATE be posted in a bank/branch lobby?

We recently had a robbery in one of our branches. Our Security Officer called me for our FDIC Certificate Number, which I provided. However, the Security Officer noted that the lead investigator from the FBI advised that the bank is required to have its FDIC Certificate posted in the lobby. We don't, and this is news to me. Obviously, we have all other required signage - including insurance of accounts signage - posted in the branch lobbies. Your input - including any regulatory citations - would be most appreciated!

Reply to: EHANCE@MAGBANK.COM


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General Discussion
#2763 - 07/06/01 02:18 PM Re: FDIC LOBBY NOTICE
Gotwood Offline
Platinum Poster
Joined: May 2001
Posts: 715
Having been an FDIC Examiner for 11 years, I can tell you we never required the FDIC certificate to be displayed. I have seen it in boardrooms, kitchens, and even in the foyer by the ATM machine. If there is a regulation, we weren't enforcing it.

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#2764 - 07/06/01 03:05 PM Re: FDIC LOBBY NOTICE
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
For many, many years we had the same branches and never grew. Then we opened a new branch and I saw one of these certificates for the first time. In fact, they sent us one for the new branch and one for a branch we opened in 1966.

I called the FDIC and asked what the requirements were and was told only that they should be in the branches. No posting was required.

Could I tell you now who I talked to and when, no. I made a note at the time, but have never seen any requirement on this so I didn't retain it long term.

------------------
Andy Zavoina
Opinions stated are not necessarily that of my employer.

_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

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#2765 - 07/06/01 08:38 PM Re: FDIC LOBBY NOTICE
BankerMama Offline
Diamond Poster
BankerMama
Joined: Jun 2001
Posts: 1,543
I agree that I have found no requirements for posting. Every time we opened a branch at the bank I came from we received one of these and no one, including me, knew what to do with them.

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#2766 - 07/09/01 11:53 AM Re: FDIC LOBBY NOTICE
RVFlyboy Offline
Power Poster
RVFlyboy
Joined: Oct 2000
Posts: 5,991
Soaring over Georgia
There is no requirement to post the FDIC certificate. Where much of the confusion stems from, in my opinion, is the FDIC regulations requiring posting of the "official FDIC sign" at teller stations and other deposit taking locations. Some people misinterpret this to mean the nice FDIC certificate which looks pretty official with its gold seal and everything.

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Jim Bedsole, CRCM, CBA, CFSA

Opinions expressed are my own, and do not necessarily reflect those of my employer.

_________________________
Jim Bedsole, CRCM, CBA, CFSA, CAFP
My posts - my opinions

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