The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment period now runs through Jan. 16, the FDIC said in a Monday (Nov. 18) press...
Privacy is not an afterthought with the “privacy by design” mindset, and FinTech startups may take a similar approach with data security. In that sense, they may incorporate data security every time they make an enhancement or a release. “It’s really built in by design,”...
It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. According to Reuters, traditional banks will feel the impact if FinTechs start offering services such as payments, crowdfunding, mobile banks and online trading. Some analysts even believe...
A Democrat has some serious advice for Congress when it comes to FinTech. “If we fail to act on FinTech, we are setting ourselves up for problems down the road,” Rep. Emanuel Cleaver, D-Mo., said in a recent interview reported by American Banker. “Not because...
November 29, 2024
FinTech Wise reportedly has implemented a European regulator’s recommendations to bolster its anti-money laundering (AML) programs. Wise was forced into a formal remediation plan after the National Bank of Belgium found in 2022 that there was a shortcoming in its AML controls, the Financial Times (FT) reported Thursday (Nov. 28). The National Bank of Belgium supervises the London-listed […]
November 18, 2024
The Federal Deposit Insurance Corp. (FDIC) has extended the public comment period for its proposed rule on recordkeeping for banks’ custodial accounts. Previously scheduled to end Dec. 2, the comment...
February 20, 2018
It doesn’t look like global banking regulators will be rushing to change their rules for FinTechs anytime soon. According to Reuters, traditional banks will feel the impact if FinTechs start...
January 04, 2018
A Democrat has some serious advice for Congress when it comes to FinTech. “If we fail to act on FinTech, we are setting ourselves up for problems down the road,”...
