Federal Deposit Insurance Corporation April 4, 2019 – Federal Register Recent Federal Regulation Documents

Joint Ownership Deposit Accounts
Document Number: 2019-06534
Type: Proposed Rule
Date: 2019-04-04
Agency: Federal Deposit Insurance Corporation, Agencies and Commissions
The Federal Deposit Insurance Corporation (FDIC) is seeking comment on a proposed rule that would amend the regulation governing one of the requirements for an account to be separately insured as a joint account. Specifically, the proposed rule would provide an alternative method to satisfy the ``signature card'' requirement. Under the proposal, the ``signature card'' requirement could be satisfied by information contained in the deposit account records of the insured depository institution establishing co-ownership of the deposit account, such as evidence that the institution has issued a mechanism for accessing the account to each co-owner or evidence of usage of the deposit account by each co-owner.
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