US Financial Regulators Take Action on Misrepresentations About Deposit Insurance

On 5 July 2022, the Federal Deposit Insurance Corporation (FDIC)implemented new rules addressing misrepresentations about deposit insurance and the use of the FDIC’s name and logo by the private sector. These new rules complement enforcement and supervisory positions taken by the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) which announced several actions earlier this year.