Latest Operations - FDIC Topics

Member FDIC Required on Overdraft Notices

08/16/2015

Are we required to put Member FDIC on overdraft notices, notice of returned deposit item, etc.? We typically use it as much as possible but in this case like to remove it so that I can use the same notice paper for a non-FDIC insured item - safe deposit boxes and their payment notices.

What's Required on an Outdoor Building Sign?

09/23/2013

Is the Member FDIC verbage required on an outdoor sign that identifies your bank building? Also, same question for the EHL logo.

Notice Requirements for Sweep Accounts

07/01/2013

We are looking to revise our daily disclosure notice to our Sweep account customers. Are there guidelines/samples available in some reference? I am having a difficult time finding the notice requirements.

Does A POD Have to Be In The Titling of Account?

05/20/2013

Does a POD have to be in the titling of an account or just on the account contract to be FDIC insured?

FDIC Logo Required on Information Letter?

04/22/2013

We are mailing a two-page letter to our customers. The first page is to inform them of upcoming changes to how customers will log on to our Internet banking. The second page is tips on preventing identity theft. Is it required that we display the FDIC logo on this letter? The FDIC logo is however, on the envelope that contains the letter.

Open Accts At 0 Balance for DD of Employee Payroll

03/25/2013

When presenting our banking products for employees at a place of business, can we open bank accounts at zero balance for direct deposit of employee payroll? Will we need FDIC signage?

Branding My Privacy Statements

03/04/2013

I've noticed that almost all privacy statements are printed in black. Is it okay if our bank prints them in our bank's branded colors?

FDIC Logo Required on Flyers for OREO Properties?

01/21/2013

Our bank has a lot of OREO properties that we are trying to sell. In an attempt to get these properties sold, we are creating flyers and putting them up around town. The flyer has a picture of the house for sale, a map of the location of the house, information about the house, and our company logo. There is one sentence on the entire flyer that states that the Bank may be able to offer special financing to qualified borrowers whether they purchase one of our properties as an owner occupant or multiple properties as an investor. We have included the equal housing lender logo on the flyer, but are debating about whether the FDIC logo needs to be included as well. I think it is possible that because we are not advertising a specific loan product (just loans in general) that we might need to include FDIC logo. What do you think?

Money Market Included in Insurance for FDIC?

01/07/2013

When you are calculating insurance coverage for the FDIC, is Money Market included?

Retention Schedule for Stop Payment Orders

12/17/2012

What is the retention schedule for stop payment orders? I think it might be different for ACH vs other? We are a state bank, regulated by FDIC. While we're at it, isn't there one good source for record retention. It seems there are so many different places to look?