FDIC’s Final Rule on Brokered Deposits Adds Clarity to Fintech Partnerships and Other Common Arrangements
By EsqSocial Corporation 22/12/20
On December 15, the Federal Deposit Insurance Corporation (FDIC) issued a final rule (Final Rule) establishing a new framework for analyzing whether bank deposits obtained through third-party arrangements are brokered deposits. The Final Rule adds clarity to one of the murkier areas of bank regulations, while modernizing the rules for better application to deposit arrangements, including partnerships between banks and fintech companies....
By: Troutman Pepper