Non-banks’ use of banking lingo, FDIC logo draw scrutiny. Amid bank failures, FDIC sees an increase in false promises of deposit insurance ...

On May 17, the FDIC and the CFPB took parallel actions to combat the misuse of the name or logo of the FDIC and deceptive representations about deposit insurance.

Section 18 (a) (4) prohibits any person from misusing the FDIC’s name or logo or from engaging in false advertising or making knowing misrepresentations about deposit insurance.

However, between January 1, 2019, and December 31, 2020, the FDIC reached informal resolutions regarding the potential misuse of the FDIC's name or logo and/or misrepresentations relation to ...

WASHINGTON — The Federal Deposit Insurance Corp. issued a proposed rule Tuesday to crack down on misrepresentations of FDIC-insured accounts by crypto companies and other bank partners while ...