On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed extensive new recordkeeping requirements and other compliance obligations (the “Proposal” ) for certain types of ...

Proposed rules would mandate that banks holding custodial deposit accounts with transactional features maintain records of the underlying beneficial owner and the amount attributable to each ...

The Federal Deposit Insurance Corp. on Tuesday proposed a new rule forcing banks to keep detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of ...

The Financial Technology Association (FTA) has sent a letter to the Federal Deposit Insurance Corporation (FDIC) telling them to modify rules designed to address custodial deposits. The letter was ...

“The rapid growth of these partnerships risks harming consumers while posing a broader threat to the stability of our banking system and the economy. 1 These partnerships package services ...