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New Branch Grand Opening

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Question: 
We are opening a new branch and we will be sending out invitations/brochures inviting people to check out our new branch at the grand opening. We aren’t asking anyone to open an account or apply for a loan on the brochure. Is this invitation/brochure considered an advertisement and if so, what disclosures would apply?
Answer: 

Even without listing products and services it is an advertisement according to the FDIC membership rules. "(a) Advertisement defined. The term “advertisement,” as used in this part, shall mean a commercial message, in any medium, that is designed to attract public attention or patronage to a product or business." You state that the intention is to draw attention to your new location so you will need to include the required FDIC logo/statement within the invitation/brochure. (12 CFR 328.3)

First published on BankersOnline.com 1/19/09

First published on 01/19/2009

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