FDIC extends comment period on Part 328 proposal

The FDIC has announced a 45-day extension to the public comment period for proposed changes to its regulations relating to the FDIC’s official sign, the FDIC’s official advertising statement, misrepresentations of deposit insurance coverage, and misuse of the FDIC’s name or logo. Comments must be received by the FDIC no later than April 7, 2023.

On December 13, 2022, the FDIC announced a Notice of Proposed Rulemaking to modernize part 328 of its regulations and provided for a 60-day comment period (through February 21, 2023) following formal publication in the Federal Register (87 FR 78017) on December 21, 2022. After receiving requests to extend the comment period, the FDIC determined that a 45–day extension of the comment period is appropriate and will provide additional opportunity for the public to prepare comments and address the matters raised by the proposal.