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Nov 22, 2024
12:48:53pm
Jesse Pinkman All-American
Updated FDIC regulation is coming. There is a proposed FDIC rule coming
out of this that will require banks to be able to have daily individual balance information for the single omnibus FBO deposit of the Fintechs. It's one of those careful-what-you-wish-for things. The record keeping is obviously needed, but it will introduce a lot of cost to the fintechs and banks not previously in place. So that means similar products go away because they won't make money or they get more expensive.
Jesse Pinkman
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Jesse Pinkman
Joined
Feb 6, 2002
Last login
Nov 22, 2024
Total posts
20,912 (36 FO)