Alex teams up with Jason Mikula, now Head of Industry Strategy for Banking & Fintech at Taktile (ooh la la!) to unpack the latest in fintech.
The FDIC has proposed a new rule on custodial deposits—the "Synapse Rule." It requires banks to meticulously track custodial account owners and transactions, aiming for crisis prevention, but does it truly plug the gaps exposed by past failures? Will regulators enforce compliance if the rule passes, especially given Evolve's shaky history?
As the Consumer Financial Protection Bureau (CFPB) nears finalizing a personal financial data rights rule, the industry braces for a shift from screen scraping to APIs. But can we trust the big banks to play fair?
Plus, don’t miss the latest installment in the Visa antitrust suit, and don’t be fooled: this isn’t just a Visa problem. It turns out notions of good vs. evil in the payments space aren't all that black and white.
And to top it off? A rant about the CFPB's consent order against TD Bank, a perfect example of “how not to” furnish credit. Plus, a friendly headline tip for Forbes from Alex! What could it be?
Tune in to find out.
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00:03:14 - FDIC’s New “Synapse” Rule
00:09:04 - Compliance Conundrums
00:22:13 - Open Banking in the End Zone
00:39:32 - The Visa Antitrust Suit: A “3?-Minute Overview”
00:45:59 - Can’t Let It Go
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Follow Jason:
Newsletter: https://fintechbusinessweekly.substack.com/
LinkedIn: https://www.linkedin.com/in/jasonmikula/
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