FDIC revives effort to modernize agency's signage for digital age

WASHINGTON — The Federal Deposit Insurance Corp. has resurrected its push to modernize the agency’s iconic logo almost a year after a global pandemic grounded the effort.

The FDIC first sought feedback on how it could update its logo for the digital age in February of last year, citing the need to address recent shifts in bank technology and consumer behaviors. But the process was suspended two months later, in April, amid the COVID-19 pandemic.

“As banks continue to innovate,” the agency said in a press release Friday, “the FDIC is renewing its effort to revise and clarify its official sign and advertising rules related to FDIC deposit insurance.”

Comments for the renewed information request, with questions largely similar to the original request, are due May 24.

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Banks have been required by federal law to display the agency’s signage wherever deposits are taken since the 1950s, including at bank branches and ATMs. The regulations around the sign have not been significantly updated since 2006, leaving bankers with questions about the proper use of the FDIC logo in their mobile apps, social media advertising and other digital arenas.

The FDIC is also seeking feedback on how it could better use its sign — a longtime seal of confidence for the nation’s depositors — to combat fraudsters.

"The FDIC is exploring whether technological or other solutions might enable consumers to validate when they are interacting with a FDIC-insured financial institution when visiting websites and using apps on mobile devices," the agency said in its request.