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Avoiding Over-Regulation: American Fintech Council Warns That FDIC New Act Could Hinder Innovation

The Fintech Times

The new proposal will allegedly strengthen FDIC-insured depository institutions’ (IDI) recordkeeping for custodial deposit accounts with transactional features. “Withdraw the proposal” Sharing its concerns with the FDIC, the AFC sent a comment letter to the independent agency.

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FDIC pushes regulators to address tokenization

Payments Dive

FDIC Vice Chairman Travis Hill doesn't want the U.S. Tokenization could be a "major leap" for the monetary system. to be left out.

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Discover, FDIC reach consent agreement

Payments Dive

The agreement, issued last week, addresses “shortcomings” in Discover Bank’s compliance management system for consumer protection laws, the company said.

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SVB Collapse Puts Additional Pressure on CFOs

The Finance Weekly

Silicon Valley Bank (SVB) collapsed last Friday and it sent both private and public companies scrambling to address what exposures they had with SVB and other banks that might be at risk. The quick and unexpected collapse of the second and third largest bank collapses in US history sent shock waves throughout the markets.

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Waza Launches Lync, a Multi-Currency Banking Platform With Global Payment Rails for Emerging Market Businesses

Fintech Finance

Lync is designed to address these challenges and provide a viable alternative to the existing options for businesses that serve emerging markets. Funds held in these accounts are FDIC-insured, giving businesses the confidence to explore new markets and take on new opportunities.

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Fed, FDIC, OCC update guidance on third-party risk management

Payments Dive

The guidance is aimed at helping banks address the operational, compliance and strategic risks of third-party tie-ups, such as those with fintech firms.

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House Chairwoman Tells FDIC To Halt ILC Charters

PYMNTS

Waters wrote to Jelena McWilliams , chairwoman of the Federal Deposit Insurance Corporation (FDIC) , requesting the agency wait until new regulatory proposals on ILC charters are given the OK before any more of the charters are passed through. Because of that, retail businesses can have them.

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