deposit insurance

This week’s podcast episode: Use of the FDIC name and logo: proceed with caution

By Barbara S. Mishkin on October 13, 2022

Posted in CFPB, FDIC, Regulatory and Enforcement

We discuss the FDIC’s final rule on misuse of the FDIC name or logo, advisory to insured banks on deposit insurance and dealings with crypto companies, and cease and desist letters to five crypto companies alleging they made false and misleading statements about deposit insurance. We also discuss the CFPB’s circular warning that a misrepresentation involving the FDIC name or logo can constitute a UDAAP violation. … Continue Reading

CFPB announces launch of new system for providing guidance and issues first Circular; FDIC issues final rule on misuse of FDIC name or logo or making misrepresentations about deposit insurance

By Michael Gordon & Scott A. Coleman on May 19, 2022

Posted in CFPB, Deposit Accounts, FDIC, Fintech, Regulatory and Enforcement

Just one day after announcing that it was launching a new system to provide guidance to other agencies with consumer financial protection responsibilities on how the CFPB intends to enforce federal consumer financial laws, the CFPB released its first Consumer Financial Protection Circular (2022-02) addressing deceptive representations involving the FDIC’s name or logo or deposit insurance. … Continue Reading