Member FDIC Required on Overdraft Notices

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Question:

Are we required to put Member FDIC on overdraft notices, notice of returned deposit item, etc.? We typically use it as much as possible but in this case like to remove it so that I can use the same notice paper for a non-FDIC insured item - safe deposit boxes and their payment notices.

Answer:

Typically, these notices do not normally meet the definition of advertisement. If it's not an advertisement, the phrase isn't required.

Sec. 328.3 Official advertising statement requirements.

(a) Advertisement defined. The term “advertisement,” as used in this part, shall mean a commercial message, in any medium, that is designed to attract public attention or patronage to a product or business.