for benefit of accounts

Suit Against Synapse Partner Banks Spotlights Risks of Commingled Funds
Suit Against Synapse Partner Banks Spotlights Risks of Commingled Funds
December 02, 2024  |  Bank Regulation

The eventual resolution of the key question in the wake of the Synapse bankruptcy — namely, where the money went — will take time. And...

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FDIC Takes Hard Look at ‘For Benefit Of’ Accounts
FDIC Takes Hard Look at ‘For Benefit Of’ Accounts
September 06, 2024  |  Bank Regulation

The ties that bind banks and FinTechs will be more closely watched by the Federal Deposit Insurance Corporation (FDIC), and a formal proposal/rule from the...

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