Kiah Haslett, Banking and Fintech Editor at Bank Director, joins to discuss pivotal changes in the financial landscape. She highlights the shift from 'FBO' accounts to the more transparent 'Fintech Custody Accounts.' The conversation delves into the excitement surrounding potential rate cuts and their implications for mortgage rates and commercial real estate. Additionally, Kiah examines the FDIC's new rule on fintech ledger controls, bringing transparency into focus, while discussing the OCC's shift towards prioritizing financial health in banks.

Regulatory lawyer Jesse, Trustly's Matt, and editor Kiah discuss the aftermath of Synapse's bankruptcy, focusing on banks' compliance failures and AML/BSA issues. They delve into regulatory gaps, risk management, and the need for banks to adapt to digital risks. Insightful discussion on evolving banking landscape and industry challenges.

Kiah Haslett, Banking and Fintech Editor at Bank Director, shares her sharp insights on the latest FDIC proposed rule affecting custodial accounts. She debates whether smaller banks need different standards in the Banking-as-a-Service realm, emphasizing that size doesn't equate to complexity. Kiah critiques recent fintech ecosystem standards and calls out Mercury's compliance claims as a facade. Plus, she tackles tough questions on the definition of bank service companies and the nature of financial innovations like Buy Now, Pay Later. Compliance is more than just a trend—it's essential.