diff --git a/lms/static/sass/features/_course-experience.scss b/lms/static/sass/features/_course-experience.scss
index e552f6a685e2a64f8079f9f007d4463cc568a8fe..5de8a3b56f8cf54134732524357f33d1b85d27ee 100644
--- a/lms/static/sass/features/_course-experience.scss
+++ b/lms/static/sass/features/_course-experience.scss
@@ -64,8 +64,8 @@
   }
 }
 
-// Welcome message
-.welcome-message {
+// Welcome message / Latest Update message
+.welcome-message, .update-message{
   border: solid 1px $lms-border-color;
   @include border-left(solid 4px $black);
   margin-bottom: $baseline;
diff --git a/openedx/features/course_experience/__init__.py b/openedx/features/course_experience/__init__.py
index 1946dc8c721166743ecd75b61d4c7b8ac558fc56..c079b2c41e3407b3421c803304a53e81ed99b05b 100644
--- a/openedx/features/course_experience/__init__.py
+++ b/openedx/features/course_experience/__init__.py
@@ -25,6 +25,12 @@ COURSE_PRE_START_ACCESS_FLAG = CourseWaffleFlag(WAFFLE_FLAG_NAMESPACE, 'pre_star
 # Waffle flag to enable a review page link from the unified home page
 SHOW_REVIEWS_TOOL_FLAG = CourseWaffleFlag(WAFFLE_FLAG_NAMESPACE, 'show_reviews_tool')
 
+# Waffle flag to switch between the 'welcome message' and 'latest update' on the course home page.
+# Important Admin Note: This is meant to be configured using waffle_utils course
+#   override only.  Either do not create the actual waffle flag, or be sure to unset the
+#   flag even for Superusers.
+LATEST_UPDATE_FLAG = CourseWaffleFlag(WAFFLE_FLAG_NAMESPACE, 'latest_update')
+
 
 def course_home_page_title(course):  # pylint: disable=unused-argument
     """
diff --git a/openedx/features/course_experience/static/course_experience/fixtures/latest-update-fragment.html b/openedx/features/course_experience/static/course_experience/fixtures/latest-update-fragment.html
new file mode 100644
index 0000000000000000000000000000000000000000..3564396ec5b1b6f6d26f5902ff8dec714f4218c0
--- /dev/null
+++ b/openedx/features/course_experience/static/course_experience/fixtures/latest-update-fragment.html
@@ -0,0 +1,7 @@
+<div class="update-message">
+    <h3>Latest Update</h3>
+    <div class="dismiss-message">
+        <button type="button" class="btn-link">Dismiss</button>
+    </div>
+    This is an update.
+</div>
diff --git a/openedx/features/course_experience/static/course_experience/js/LatestUpdate.js b/openedx/features/course_experience/static/course_experience/js/LatestUpdate.js
new file mode 100644
index 0000000000000000000000000000000000000000..fc9fe52ef0067d2409f1ead3b0d9a733bc2210c4
--- /dev/null
+++ b/openedx/features/course_experience/static/course_experience/js/LatestUpdate.js
@@ -0,0 +1,15 @@
+/* globals $ */
+import 'jquery.cookie';
+
+export class LatestUpdate {  // eslint-disable-line import/prefer-default-export
+
+  constructor(options) {
+    if ($.cookie('update-message') === 'hide') {
+      $(options.messageContainer).hide();
+    }
+    $(options.dismissButton).click(() => {
+      $.cookie('update-message', 'hide', { expires: 1 });
+      $(options.messageContainer).hide();
+    });
+  }
+}
diff --git a/openedx/features/course_experience/static/course_experience/js/spec/LatestUpdate_spec.js b/openedx/features/course_experience/static/course_experience/js/spec/LatestUpdate_spec.js
new file mode 100644
index 0000000000000000000000000000000000000000..23e3146541476aed37c8c9f9a3df4df0063897e4
--- /dev/null
+++ b/openedx/features/course_experience/static/course_experience/js/spec/LatestUpdate_spec.js
@@ -0,0 +1,38 @@
+/* globals $, loadFixtures */
+
+import 'jquery.cookie';
+import { LatestUpdate } from '../LatestUpdate';
+
+
+describe('LatestUpdate tests', () => {
+  function createLatestUpdate() {
+    new LatestUpdate({ messageContainer: '.update-message', dismissButton: '.dismiss-message button' }); // eslint-disable-line no-new
+  }
+  describe('Test dismiss', () => {
+    beforeEach(() => {
+      // This causes the cookie to be deleted.
+      $.cookie('update-message', '', { expires: -1 });
+      loadFixtures('course_experience/fixtures/latest-update-fragment.html');
+    });
+
+    it('Test dismiss button', () => {
+      expect($.cookie('update-message')).toBe(null);
+      createLatestUpdate();
+      expect($('.update-message').attr('style')).toBe(undefined);
+      $('.dismiss-message button').click();
+      expect($('.update-message').attr('style')).toBe('display: none;');
+      expect($.cookie('update-message')).toBe('hide');
+    });
+
+    it('Test cookie hides update', () => {
+      $.cookie('update-message', 'hide');
+      createLatestUpdate();
+      expect($('.update-message').attr('style')).toBe('display: none;');
+
+      $.cookie('update-message', '', { expires: -1 });
+      loadFixtures('course_experience/fixtures/latest-update-fragment.html');
+      createLatestUpdate();
+      expect($('.update-message').attr('style')).toBe(undefined);
+    });
+  });
+});
diff --git a/openedx/features/course_experience/templates/course_experience/course-home-fragment.html b/openedx/features/course_experience/templates/course_experience/course-home-fragment.html
index 384581e88f85dd9da6860347a8c1b12425c5d721..058d094e70b27659b9c049e189afe41943765bbc 100644
--- a/openedx/features/course_experience/templates/course_experience/course-home-fragment.html
+++ b/openedx/features/course_experience/templates/course_experience/course-home-fragment.html
@@ -61,9 +61,9 @@ from openedx.features.course_experience import UNIFIED_COURSE_TAB_FLAG, SHOW_REV
                     ${HTML(course_home_message_fragment.body_html())}
                 % endif
 
-                % if welcome_message_fragment and UNIFIED_COURSE_TAB_FLAG.is_enabled(course.id):
-                    <div class="section section-dates">
-                        ${HTML(welcome_message_fragment.body_html())}
+                % if update_message_fragment and UNIFIED_COURSE_TAB_FLAG.is_enabled(course.id):
+                    <div class="section section-update-message">
+                        ${HTML(update_message_fragment.body_html())}
                     </div>
                 % endif
 
diff --git a/openedx/features/course_experience/templates/course_experience/latest-update-fragment.html b/openedx/features/course_experience/templates/course_experience/latest-update-fragment.html
new file mode 100644
index 0000000000000000000000000000000000000000..89d3d93e3117804e9ecef2647e071ad9ee969c28
--- /dev/null
+++ b/openedx/features/course_experience/templates/course_experience/latest-update-fragment.html
@@ -0,0 +1,24 @@
+## mako
+
+<%page expression_filter="h"/>
+<%namespace name='static' file='../static_content.html'/>
+
+<%!
+from django.utils.translation import ugettext as _
+from openedx.core.djangolib.markup import HTML
+%>
+
+<%block name="content">
+<div class="update-message">
+    <div class="dismiss-message">
+        <button type="button" class="btn-link">${_("Dismiss")}</button>
+    </div>
+    <h3>${_("Latest Update")}</h3>
+
+    ${HTML(update_html)}
+</div>
+</%block>
+
+<%static:webpack entry="LatestUpdate">
+new LatestUpdate( { messageContainer: '.update-message',  dismissButton: '.dismiss-message button'});
+</%static:webpack>
diff --git a/openedx/features/course_experience/tests/views/test_course_updates.py b/openedx/features/course_experience/tests/views/test_course_updates.py
index 2f47917d804b159e1a77cb5d978f6bbdaea2b33c..a346947917ab977a60e05d9dfbc45ec5c29c4121 100644
--- a/openedx/features/course_experience/tests/views/test_course_updates.py
+++ b/openedx/features/course_experience/tests/views/test_course_updates.py
@@ -4,7 +4,7 @@ Tests for the course updates page.
 from courseware.courses import get_course_info_usage_key
 from django.core.urlresolvers import reverse
 from openedx.core.djangoapps.waffle_utils.testutils import WAFFLE_TABLES
-from openedx.features.course_experience.views.course_updates import CourseUpdatesFragmentView
+from openedx.features.course_experience.views.course_updates import STATUS_VISIBLE
 from student.models import CourseEnrollment
 from student.tests.factories import UserFactory
 from xmodule.modulestore import ModuleStoreEnum
@@ -43,7 +43,7 @@ def create_course_update(course, user, content, date='December 31, 1999'):
         "id": len(course_updates.items) + 1,
         "date": date,
         "content": content,
-        "status": CourseUpdatesFragmentView.STATUS_VISIBLE
+        "status": STATUS_VISIBLE
     })
     modulestore().update_item(course_updates, user.id)
 
diff --git a/openedx/features/course_experience/tests/views/test_welcome_message.py b/openedx/features/course_experience/tests/views/test_welcome_message.py
index db1e1f627035a18f916789d65cf13faa8464d0b6..05efb3af5906c7b7a28fcc9e878f7a5dd3cc5f02 100644
--- a/openedx/features/course_experience/tests/views/test_welcome_message.py
+++ b/openedx/features/course_experience/tests/views/test_welcome_message.py
@@ -1,6 +1,7 @@
 """
 Tests for course welcome messages.
 """
+import ddt
 from django.core.urlresolvers import reverse
 
 from student.models import CourseEnrollment
@@ -27,6 +28,18 @@ def welcome_message_url(course):
     )
 
 
+def latest_update_url(course):
+    """
+    Returns the URL for the latest update view.
+    """
+    return reverse(
+        'openedx.course_experience.latest_update_fragment_view',
+        kwargs={
+            'course_id': unicode(course.id),
+        }
+    )
+
+
 def dismiss_message_url(course):
     """
     Returns the URL for the dismiss message endpoint.
@@ -39,9 +52,12 @@ def dismiss_message_url(course):
     )
 
 
+@ddt.ddt
 class TestWelcomeMessageView(ModuleStoreTestCase):
     """
     Tests for the course welcome message fragment view.
+
+    Also tests the LatestUpdate view because the functionality is similar.
     """
     def setUp(self):
         """Set up the simplest course possible, then set up and enroll our fake user in the course."""
@@ -61,30 +77,35 @@ class TestWelcomeMessageView(ModuleStoreTestCase):
         remove_course_updates(self.user, self.course)
         super(TestWelcomeMessageView, self).tearDown()
 
-    def test_welcome_message(self):
+    @ddt.data(welcome_message_url, latest_update_url)
+    def test_message_display(self, url_generator):
         create_course_update(self.course, self.user, 'First Update', date='January 1, 2000')
         create_course_update(self.course, self.user, 'Second Update', date='January 1, 2017')
         create_course_update(self.course, self.user, 'Retroactive Update', date='January 1, 2010')
-        response = self.client.get(welcome_message_url(self.course))
+        response = self.client.get(url_generator(self.course))
         self.assertEqual(response.status_code, 200)
         self.assertContains(response, 'Second Update')
         self.assertContains(response, 'Dismiss')
 
-    def test_replace_urls(self):
+    @ddt.data(welcome_message_url, latest_update_url)
+    def test_replace_urls(self, url_generator):
         img_url = 'img.png'
         create_course_update(self.course, self.user, "<img src='/static/{url}'>".format(url=img_url))
-        response = self.client.get(welcome_message_url(self.course))
-        self.assertContains(response, "/asset-v1:{org}+{course}+{run}+type@asset+block/img.png".format(
+        response = self.client.get(url_generator(self.course))
+        self.assertContains(response, "/asset-v1:{org}+{course}+{run}+type@asset+block/{url}".format(
             org=self.course.id.org,
             course=self.course.id.course,
-            run=self.course.id.run
+            run=self.course.id.run,
+            url=img_url,
         ))
 
-    def test_empty_welcome_message(self):
-        response = self.client.get(welcome_message_url(self.course))
+    @ddt.data(welcome_message_url, latest_update_url)
+    def test_empty_message(self, url_generator):
+        response = self.client.get(url_generator(self.course))
         self.assertEqual(response.status_code, 204)
 
-    def test_dismiss_message(self):
+    def test_dismiss_welcome_message(self):
+        # Latest update is dimssed in JS and has no server/backend component.
         create_course_update(self.course, self.user, 'First Update', date='January 1, 2017')
 
         response = self.client.get(welcome_message_url(self.course))
diff --git a/openedx/features/course_experience/urls.py b/openedx/features/course_experience/urls.py
index a74f1d204147f1b57d192790d245d40b04a03306..cb5e9232dc7f484850f6db31ce74132902753800 100644
--- a/openedx/features/course_experience/urls.py
+++ b/openedx/features/course_experience/urls.py
@@ -9,6 +9,7 @@ from views.course_outline import CourseOutlineFragmentView
 from views.course_reviews import CourseReviewsView
 from views.course_updates import CourseUpdatesFragmentView, CourseUpdatesView
 from views.course_sock import CourseSockFragmentView
+from views.latest_update import LatestUpdateFragmentView
 from views.welcome_message import WelcomeMessageFragmentView, dismiss_welcome_message
 
 urlpatterns = [
@@ -47,6 +48,11 @@ urlpatterns = [
         WelcomeMessageFragmentView.as_view(),
         name='openedx.course_experience.welcome_message_fragment_view',
     ),
+    url(
+        r'^latest_update_fragment$',
+        LatestUpdateFragmentView.as_view(),
+        name='openedx.course_experience.latest_update_fragment_view',
+    ),
     url(
         r'course_sock_fragment$',
         CourseSockFragmentView.as_view(),
diff --git a/openedx/features/course_experience/views/course_home.py b/openedx/features/course_experience/views/course_home.py
index 017dcac4cf2446034e67beef4e85d89c7d7471f5..2ca8316528ab6d2f3fe9a0dfc8f16c2e95b3764d 100644
--- a/openedx/features/course_experience/views/course_home.py
+++ b/openedx/features/course_experience/views/course_home.py
@@ -24,11 +24,13 @@ from student.models import CourseEnrollment
 from util.views import ensure_valid_course_key
 from web_fragments.fragment import Fragment
 
+from .. import LATEST_UPDATE_FLAG
 from ..utils import get_course_outline_block_tree
 from .course_dates import CourseDatesFragmentView
 from .course_home_messages import CourseHomeMessageFragmentView
 from .course_outline import CourseOutlineFragmentView
 from .course_sock import CourseSockFragmentView
+from .latest_update import LatestUpdateFragmentView
 from .welcome_message import WelcomeMessageFragmentView
 
 EMPTY_HANDOUTS_HTML = u'<ol></ol>'
@@ -121,9 +123,14 @@ class CourseHomeFragmentView(EdxFragmentView):
         }
         if user_access['is_enrolled'] or user_access['is_staff']:
             outline_fragment = CourseOutlineFragmentView().render_to_fragment(request, course_id=course_id, **kwargs)
-            welcome_message_fragment = WelcomeMessageFragmentView().render_to_fragment(
-                request, course_id=course_id, **kwargs
-            )
+            if LATEST_UPDATE_FLAG.is_enabled(course_key):
+                update_message_fragment = LatestUpdateFragmentView().render_to_fragment(
+                    request, course_id=course_id, **kwargs
+                )
+            else:
+                update_message_fragment = WelcomeMessageFragmentView().render_to_fragment(
+                    request, course_id=course_id, **kwargs
+                )
             course_sock_fragment = CourseSockFragmentView().render_to_fragment(request, course=course, **kwargs)
             has_visited_course, resume_course_url = self._get_resume_course_info(request, course_id)
         else:
@@ -134,7 +141,7 @@ class CourseHomeFragmentView(EdxFragmentView):
 
             # Set all the fragments
             outline_fragment = None
-            welcome_message_fragment = None
+            update_message_fragment = None
             course_sock_fragment = None
             has_visited_course = None
             resume_course_url = None
@@ -163,7 +170,7 @@ class CourseHomeFragmentView(EdxFragmentView):
             'resume_course_url': resume_course_url,
             'course_tools': course_tools,
             'dates_fragment': dates_fragment,
-            'welcome_message_fragment': welcome_message_fragment,
+            'update_message_fragment': update_message_fragment,
             'course_sock_fragment': course_sock_fragment,
             'disable_courseware_js': True,
             'uses_pattern_library': True,
diff --git a/openedx/features/course_experience/views/course_updates.py b/openedx/features/course_experience/views/course_updates.py
index 1daec2c6a789df04e3252624db4d15a9671efc28..77ab2404b4ca41eb35e9af85b7747cea389df5a3 100644
--- a/openedx/features/course_experience/views/course_updates.py
+++ b/openedx/features/course_experience/views/course_updates.py
@@ -17,6 +17,37 @@ from lms.djangoapps.courseware.views.views import CourseTabView
 from openedx.core.djangoapps.plugin_api.views import EdxFragmentView
 from openedx.features.course_experience import default_course_url_name
 
+STATUS_VISIBLE = 'visible'
+STATUS_DELETED = 'deleted'
+
+
+def get_ordered_updates(request, course):
+    """
+    Returns any course updates in reverse chronological order.
+    """
+    info_module = get_course_info_section_module(request, request.user, course, 'updates')
+
+    updates = info_module.items if info_module else []
+    info_block = getattr(info_module, '_xmodule', info_module) if info_module else None
+    ordered_updates = [update for update in updates if update.get('status') == STATUS_VISIBLE]
+    ordered_updates.sort(
+        key=lambda item: (safe_parse_date(item['date']), item['id']),
+        reverse=True
+    )
+    for update in ordered_updates:
+        update['content'] = info_block.system.replace_urls(update['content'])
+    return ordered_updates
+
+
+def safe_parse_date(date):
+    """
+    Since this is used solely for ordering purposes, use today's date as a default
+    """
+    try:
+        return datetime.strptime(date, '%B %d, %Y')
+    except ValueError:  # occurs for ill-formatted date values
+        return datetime.today()
+
 
 class CourseUpdatesView(CourseTabView):
     """
@@ -41,9 +72,6 @@ class CourseUpdatesFragmentView(EdxFragmentView):
     """
     A fragment to render the updates page for a course.
     """
-    STATUS_VISIBLE = 'visible'
-    STATUS_DELETED = 'deleted'
-
     def render_to_fragment(self, request, course_id=None, **kwargs):
         """
         Renders the course's home page as a fragment.
@@ -53,7 +81,7 @@ class CourseUpdatesFragmentView(EdxFragmentView):
         course_url_name = default_course_url_name(course.id)
         course_url = reverse(course_url_name, kwargs={'course_id': unicode(course.id)})
 
-        ordered_updates = self.get_ordered_updates(request, course)
+        ordered_updates = get_ordered_updates(request, course)
         plain_html_updates = ''
         if ordered_updates:
             plain_html_updates = self.get_plain_html_updates(request, course)
@@ -71,27 +99,9 @@ class CourseUpdatesFragmentView(EdxFragmentView):
         html = render_to_string('course_experience/course-updates-fragment.html', context)
         return Fragment(html)
 
-    @classmethod
-    def get_ordered_updates(self, request, course):
-        """
-        Returns any course updates in reverse chronological order.
-        """
-        info_module = get_course_info_section_module(request, request.user, course, 'updates')
-
-        updates = info_module.items if info_module else []
-        info_block = getattr(info_module, '_xmodule', info_module) if info_module else None
-        ordered_updates = [update for update in updates if update.get('status') == self.STATUS_VISIBLE]
-        ordered_updates.sort(
-            key=lambda item: (self.safe_parse_date(item['date']), item['id']),
-            reverse=True
-        )
-        for update in ordered_updates:
-            update['content'] = info_block.system.replace_urls(update['content'])
-        return ordered_updates
-
     @classmethod
     def has_updates(self, request, course):
-        return len(self.get_ordered_updates(request, course)) > 0
+        return len(get_ordered_updates(request, course)) > 0
 
     @classmethod
     def get_plain_html_updates(self, request, course):
@@ -103,13 +113,3 @@ class CourseUpdatesFragmentView(EdxFragmentView):
         info_module = get_course_info_section_module(request, request.user, course, 'updates')
         info_block = getattr(info_module, '_xmodule', info_module)
         return info_block.system.replace_urls(info_module.data) if info_module else ''
-
-    @staticmethod
-    def safe_parse_date(date):
-        """
-        Since this is used solely for ordering purposes, use today's date as a default
-        """
-        try:
-            return datetime.strptime(date, '%B %d, %Y')
-        except ValueError:  # occurs for ill-formatted date values
-            return datetime.today()
diff --git a/openedx/features/course_experience/views/latest_update.py b/openedx/features/course_experience/views/latest_update.py
new file mode 100644
index 0000000000000000000000000000000000000000..765760761d14783b9ffd3b1a60855dc5a381e981
--- /dev/null
+++ b/openedx/features/course_experience/views/latest_update.py
@@ -0,0 +1,52 @@
+"""
+View logic for handling latest course updates.
+
+Although the welcome message fragment also displays the latest update,
+this fragment dismisses the message for a limited time so new updates
+will continue to appear, where the welcome message gets permanently
+dismissed.
+"""
+from django.template.loader import render_to_string
+from opaque_keys.edx.keys import CourseKey
+from web_fragments.fragment import Fragment
+
+from courseware.courses import get_course_with_access
+from openedx.core.djangoapps.plugin_api.views import EdxFragmentView
+from openedx.features.course_experience.views.course_updates import get_ordered_updates
+
+
+class LatestUpdateFragmentView(EdxFragmentView):
+    """
+    A fragment that displays the latest course update.
+    """
+    def render_to_fragment(self, request, course_id=None, **kwargs):
+        """
+        Renders the latest update message fragment for the specified course.
+
+        Returns: A fragment, or None if there is no latest update message.
+        """
+        course_key = CourseKey.from_string(course_id)
+        course = get_course_with_access(request.user, 'load', course_key, check_if_enrolled=True)
+
+        update_html = self.latest_update_html(request, course)
+        if not update_html:
+            return None
+
+        context = {
+            'update_html': update_html,
+        }
+        html = render_to_string('course_experience/latest-update-fragment.html', context)
+        return Fragment(html)
+
+    @classmethod
+    def latest_update_html(cls, request, course):
+        """
+        Returns the course's latest update message or None if it doesn't have one.
+        """
+        # Return the course update with the most recent publish date
+        ordered_updates = get_ordered_updates(request, course)
+        content = None
+        if ordered_updates:
+            content = ordered_updates[0]['content']
+
+        return content
diff --git a/openedx/features/course_experience/views/welcome_message.py b/openedx/features/course_experience/views/welcome_message.py
index 47aa4f8c096a19418536c9a6693f609a963d1d90..028f45a673ec4f0b45dfdb70a5869f1f60fa4c90 100644
--- a/openedx/features/course_experience/views/welcome_message.py
+++ b/openedx/features/course_experience/views/welcome_message.py
@@ -9,7 +9,7 @@ from django.views.decorators.csrf import ensure_csrf_cookie
 from opaque_keys.edx.keys import CourseKey
 from web_fragments.fragment import Fragment
 
-from course_updates import CourseUpdatesFragmentView
+from course_updates import get_ordered_updates
 from courseware.courses import get_course_info_section_module, get_course_with_access
 from openedx.core.djangoapps.plugin_api.views import EdxFragmentView
 from openedx.core.djangoapps.user_api.course_tag.api import set_course_tag, get_course_tag
@@ -54,7 +54,7 @@ class WelcomeMessageFragmentView(EdxFragmentView):
         Returns the course's welcome message or None if it doesn't have one.
         """
         # Return the course update with the most recent publish date
-        ordered_updates = CourseUpdatesFragmentView.get_ordered_updates(request, course)
+        ordered_updates = get_ordered_updates(request, course)
         content = None
         if ordered_updates:
             content = ordered_updates[0]['content']
diff --git a/webpack.config.js b/webpack.config.js
index 619af0dd5100c1d94e9eaab8525849f1bf6670a0..54de44325fc298b538a7b7d5139dc76c46cbd287 100644
--- a/webpack.config.js
+++ b/webpack.config.js
@@ -22,6 +22,7 @@ var wpconfig = {
         CourseOutline: './openedx/features/course_experience/static/course_experience/js/CourseOutline.js',
         CourseSock: './openedx/features/course_experience/static/course_experience/js/CourseSock.js',
         CourseTalkReviews: './openedx/features/course_experience/static/course_experience/js/CourseTalkReviews.js',
+        LatestUpdate: './openedx/features/course_experience/static/course_experience/js/LatestUpdate.js',
         WelcomeMessage: './openedx/features/course_experience/static/course_experience/js/WelcomeMessage.js',
         Enrollment: './openedx/features/course_experience/static/course_experience/js/Enrollment.js',
         Import: './cms/static/js/features/import/factories/import.js',