.BANK domain - future requirement?

Hello,

I was just wondering if anyone has heard from their regulator about the new .BANK domains. Will they, some day, be a requirement? It is very expensive to register for them but if it may be required some day we might as well try to get our desired domain name.

Thanks,
Mike

It will be a requirement.

Haven't seen anything from regulators on this. Do you have a source?

Thanks.

My IT guy said that to register 1 .bank domain it is almost $1,000 a year where our current one is around $20.00 a year. I wonder if the regulators own the domains?

No...from what I understand, the regulators don't. The ABA Risk Management Forum had a session on it. If I remember correctly the ABA and some mega banks own it...I don't see how a regulator could "require" it.

http://www.aba.com/Tools/Function/Cyber/Pages/dotbank.aspx

The new .BANK web domain is the place for growth and innovation in the financial services industry. Directed by banking and security experts, .BANK is a trusted, verified and more secure location online for banks, their customers and their stakeholders. All .BANK domains must meet enhanced security requirements and only verified members of the global banking community will be approved.

Be ready when .BANK launches on June 23, 2015 at 8:00 p.m. EDT. Prepare now by researching the different approved registrars and learning how to pre-verify with one that best fits your bank's needs. For more information, visit www.register.bank​.​​​​​​​​​​​

I can't find anything that says the regulators are going to require it. Can you shed some light on that Randy?
Thanks.

Well, it is one of those cases of what you thought in your brain is not what your fingers typed.

I seem to have missed the "not" as in "not a requirement"

Glad to hear you are human too Randy!

I'm in agreement that it isn't a necessity and regulators could likely careless until (a big if) there is some fraud case where the .bank would have saved the day. I'm not sure that will be any time soon though. I'm not a fan of the cost.

Only the registrars are.