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6min chapter
S8 E10: Bank Nerd Corner: Why "FBO" is Out & Fintech Custody Accounts Are In, Rate Cut Buzz, and the FDIC’s New Rule
Fintech Takes
FDIC's New Rule on Fintech Accounts
This chapter explores a proposed FDIC rule requiring banks to maintain accurate ledgers for accounts benefiting third-party fintechs, aimed at enhancing transparency and accountability. The discussion highlights the historical context of 'FBO' accounts and emphasizes the importance of regulatory changes in protecting consumer interests and insurance coverage during bank failures.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode