Details:

Publisher's site:
https://www.fdic.gov/
Corporate Authors:
Federal Deposit Insurance Corporation (FDIC)
Description:
FDIC-insured institutions should be aware of any unsolicited deposits received through third- party referrals. Certain insurance companies and other financial services firms (third parties) are advertising above-market rate certificates of deposit (CDs) to attract customers. When a customer buys the advertised CD, the customer is referred to the Web site of an FDIC-insured institution with the third party "making up" the difference between the insured institution's actual rate and the advertised above-market rate. This practice may cause a contradiction with the terms in the insured institution's Truth-in-Savings disclosures. In some cases, these third parties have used the FDIC official sign, seal, logo, or similar representations in connection with these offers.
Content Notes:
FIL-44-2008
Subject:
[+]
Liquidity, Funds Management and Sensitivity to Market Risk
Dataset Download URL:
https://www.fdic.gov/news/financial-institution-letters/2009/fil09032.html
Format:
PDF
Release Date:
06/19/2009
Update Date:
11/14/2018
Withdrawn Date:
12/01/2018
Agencies Involved:
Federal Deposit Insurance Corporation (FDIC)
Fdic Employee Involved:
Patricia Colohan;Martin Thompson;
Related Regulation:
12 C.F.R. Part 337.6
Source:
FDIC Website
Memorandum To:
FDIC-Supervised Institutions
FIL Number:
FIL-32-2009
Main Document Checksum:
[+]
urn:sha256:d2e87275665acb0be536af036e06cfbc80e5f073f6ddbc8e8148aa4717f84bb2
Download URL:
https://archive.fdic.gov/view/fdic/7217/fdic_7217_DS1.pdf
File Type:

Supporting Files

• FIL-44-2008, \"Third-Party Risk: Guidance for Managing Third-Party Risk\"

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