The Federal Deposit Insurance Corp. (FDIC) is expected to propose new rules impacting For Benefit Of (FBO) accounts which will affect the neobanking sector. According to a report by Bloomberg, the ...
Do you have more than a quarter-million dollars in your bank account? If not, you’re among the majority of Americans whose deposits are fully insured by the federal government.
On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a proposed rule that would make significant revisions to the FDIC’s regulations implementing the provisions of Section 29 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 ...
In late July 2024, the Federal Deposit Insurance Corporation (FDIC) board of directors proposed a rule that would revise its standards on banks accepting brokered deposits. The proposed rule would ...
The board of the Federal Deposit Insurance Corp. Monday voted to issue a proposed rule to supersede a Biden-era statement of policy applying heightened scrutiny on bank mergers and withdrew several ...
FDIC proposes banks identify beneficial owners of fintech accounts Synapse Financial's bankruptcy led to freezing of thousands of accounts DOJ withdraws 1995 bank merger guidelines in favor of broader ...
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FDIC insurance: What it is and how it works
The FDIC is an independent agency of the U.S. government that protects bank customers from losing their money in a bank should it fail. Deposits are insured for up to $250,000 per depositor, per ...
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