Complying with the Federal Deposit Insurance Act

Actionable insights for crypto companies and banks

With heightened enforcement of the Federal Deposit Insurance (FDI) Act, the Federal Deposit Insurance Corporation (FDIC) is reinforcing that disclosures, governance, and oversight about the applicability of FDIC insurance are compliant with regulatory requirements. Explore in our report what banks and nonbanks can do now to avoid potential violations.

Enforcement of the FDI Act reinforces required disclosures

To prevent misleading claims about FDIC, FDIC insured products, and the applicability of the FDIC’s deposit insurance coverage, the agency has intensified enforcement of the FDI Act. Section 18(4)(a) of the act forbids actions including improper use of FDIC branding as well as misleading advertisements or intentionally erroneous communications about deposit insurance coverage. This can mean that banks providing services to crypto companies and nonbanks providing crypto services will have to do more to stay compliant.

5 insights

We take a closer look at the five insights most relevant to crypto companies, fintech companies, and partnering banks.

5 actions

We recommend the following actions for nonbanks, including crypto companies to consider:

For banks that partner with crypto companies:

Stay ahead

Download our report to learn more about the FDI Act, its implications, and next steps. For a deeper discussion on how the act might affect your business and what you can do to stay ahead of compliance, let’s connect when it’s convenient.

Get in touch

Richard Rosenthal
Principal | Deloitte & Touche LLP

John Graetz
Principal | Deloitte & Touche LLP

Richard Mumford
Independent senior advisor to Deloitte & Touche LLP

Paul Sanford
Independent senior advisor to Deloitte & Touche LLP


Deloitte Center for Regulatory Strategy

Irena Gecas-McCarthy
FSI Director, Center for Regulatory Strategy
Principal | Deloitte & Touche LLP

Michele Jones
Senior Manager | Deloitte Services LP

Kyle Cooke
Senior Regulatory Analyst | Deloitte
Services LP

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