FDIC Board of Directors Withdraws Three Outstanding Proposed Rules

1FDIC Board of Directors Withdraws Three Outstanding Proposed Rules

On March 3, the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved the withdrawal of three proposed rules relating to brokered deposit restrictions (published August 23), corporate governance and risk management (published October 11), and the Change in Bank Control Act (published August 19).

If the FDIC decides to pursue regulatory action in any of these three areas, it will do so by publishing a new proposed rule or other issuance consistent with the requirements of the Administrative Procedure Act, as applicable.

2FDIC Delays Compliance Date for Selected Sign and Advertising Rule Provisions

On March 3, the FDIC Board of Directors approved a delay in the compliance date for specific provisions of its updated Sign and Advertising Rule. The extension moves the deadline for displaying FDIC official signs on digital banking platforms, mobile applications, and ATMs for insured depository institutions (IDIs) from May 1, 2025, to March 1, 2026. These new requirements stem from the December 2023 FDIC final rule, which amended the FDIC’s IDI signage and advertisement requirements to modernize required signage, clarify deposit insurance protections, and prevent misleading claims about FDIC coverage. Other provisions of the FDIC final rule will take effect as scheduled.

3FDIC Rescinds 2024 Bank Merger Policy Statement

On March 3, the FDIC Board of Directors approved a proposal to rescind the agency’s 2024 Statement of Policy on Bank Merger Transactions. The FDIC will reinstate, on an interim basis, the Merger Policy Statement that was in effect prior to 2024 as the agency conducts a broader reevaluation of its bank merger review process.

4SEC Announces New Cyber and Emerging Technologies Unit

On February 20, the U.S. Securities and Exchange Commission (SEC) announced the establishment of the Cyber and Emerging Technologies Unit (CETU) to combat cyber-related misconduct and protect retail investors in the emerging technologies space. The CETU replaces the Crypto Assets and Cyber Unit and consists of approximately 30 fraud specialists and attorneys. The CETU will complement the work of the Crypto Task Force led by SEC Commissioner Hester Peirce by focusing on fraud involving AI, blockchain, hacking, and social media scams, and ensuring compliance with cybersecurity regulations.

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