FDIC’s Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
SPST-3064-0219 Part 328 Revisions Advertisement of Membership Misuse of FDIC Logo FINAL.docx	Supporting Statement A	Uploaded 2024-01-22	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
257541	Request for Consent to Use Non-English Language Advertising Statement.		Modified
257540	Depository Institution Relationships- Ongoing.		Unchanged
257539	Insured Depository Institution Relationships- Implementation.		Unchanged
257538	Policies and Procedures - Ongoing		Modified
257537	Policies and Procedures - Implementation.		Modified
257536	. Signage for ATMs and Digital Deposit-taking Channels –Banks >= $10 Billion - Ongoing.		Modified
257535	Signage for ATMs and Digital Deposit-taking Channels –Banks < $10B - Ongoing.		Modified
257534	Signage for ATMs and Digital Deposit-taking Channels – Implementation		Modified
257533	Signs within Institution Premises –Banks >= $10 Billion		Modified
257532	Signs within Institution Premises –Banks less than $10 Billion.		Modified

ICR Details

OMB Control No: 3064-0219	ICR Reference No: 202401-3064-007
Status: Historical Active	Previous ICR Reference No: 202212-3064-002
Agency/Subagency: FDIC	Agency Tracking No: NPR 3064- AF26
Title: FDIC’s Official Sign and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/15/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/22/2024
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2027	36 Months From Approved
Responses	86,362	0	0
Time Burden (Hours)	408,334	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The FDIC is requesting approval from the OMB to establish a new information collection comprised of reporting, recordkeeping and third-party disclosure requirements contained in a notice of proposed rulemaking on “FDIC Official Sign and Advertising Requirements, False Advertising and Misrepresentation of Insured Status and Misuse of FDIC's Name or Logo” (the Proposed Rule), The Proposed Rule would amend 12 CFR part 328 (part 328), which governs the use of the official FDIC sign and insured depository institutions’ (IDIs) advertising statements. The Proposed Rule would also update part 328 to reflect how depositors do business with IDIs today, including through automated teller machines and like devices (ATMs) as well as digital and mobile channels. In addition, the Proposed Rule would clarify subpart B of part 328 regarding misrepresentations of deposit insurance coverage by addressing specific scenarios where consumers may be misled as to whether they are doing business with an IDI and whether their funds are protected by deposit insurance. The Proposed Rule is intended to enable consumers to better understand when they are doing business with an IDI and when their funds are protected by the FDIC’s deposit insurance coverage. The Proposed Rule affects all IDIs as well as all non-bank entities who use the official FDIC sign, advertising statements, or otherwise make representations that their products are insured or guaranteed by the FDIC (covered non-bank entities).

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Authorizing Statute(s): US Code: 12 USC 1819 (Tenth) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1820(c) Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1818 Name of Law: Federal Deposit Insurance Act
   US Code: 12 USC 1828(a) Name of Law: Federal Deposit Insurance Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3064-AF26	Final or interim final rulemaking	89 FR 3504	01/18/2024

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 10

table that charts list of burden

IC Title	Form No.	Form Name
Insured Depository Institution Relationships- Implementation.
. Signage for ATMs and Digital Deposit-taking Channels –Banks >= $10 Billion - Ongoing.
Depository Institution Relationships- Ongoing.
Policies and Procedures - Implementation.
Policies and Procedures - Ongoing
Request for Consent to Use Non-English Language Advertising Statement.
Signage for ATMs and Digital Deposit-taking Channels – Implementation
Signage for ATMs and Digital Deposit-taking Channels –Banks < $10B - Ongoing.
Signs within Institution Premises –Banks >= $10 Billion
Signs within Institution Premises –Banks less than $10 Billion.

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	86,362	0	0	86,362	0	0
Annual Time Burden (Hours)	408,334	0	0	408,334	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Changing Regulations

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The Federal Deposit Insurance Corporation (FDIC) is amending its regulations governing use of the official FDIC sign and insured depository institutions’ (IDIs) advertising statements to reflect how depositors conduct business with IDIs today, including through digital and mobile channels.

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/22/2024

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