Finovate

SEPTEMBER 18, 2024

Adding to the confusion, the dispute is ongoing in court, and because Synapse is a fintech and is thus unregulated, regulatory bodies are unable to protect consumers, many of whom are still missing their funds. Consumer protection and transparency Consumer protection is the underlying reason behind the new proposed rule.

Rules 52

Rules FDIC Non-Bank Money Laundering 52

The Fintech Times

SEPTEMBER 21, 2024

The Federal Deposit Insurance Corporation (FDIC) has proposed new regulations following the collapse of Synapse Financial Technologies , aimed at addressing the risks associated with bank-fintech partnerships. FDIC chairman Martin J. Richardson also questioned the practicality of enforcing the proposed requirements.

FDIC 59

FDIC FinTech Rules Regulations 59

The Payments Association

MARCH 18, 2025

now takes a step toward embracing crypto by fostering a holistic approach that balances innovation with consumer protection. At the same time, the Federal Deposit Insurance Corporation (FDIC) is reviewing updates to its guidelines that would allow banks to offer certain crypto-related services without prior regulatory approval.

Federal Reserve 88

Federal Reserve Stablecoins Fed Settlement 88