Remove Continuity Remove Deposit Account Remove FDIC
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High-Yield Deposit Accounts Come To Robo-Advisory Service Betterment

PYMNTS

The average national yield of savings accounts is 0.10%, whereas Betterment’s annual yield is 2.69%. Like other FinTechs, Betterment will partner with FDIC-insured institutions since it doesn’t have a bank charter. Checking accounts will be insured up to $250,000 and savings accounts up to $1 million.

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FDIC’s Plan to Bolster Fintech Oversight Faces Industry Scrutiny After Synapse Crisis

The Fintech Times

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.

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5 Things Banks Should Know about the FDIC’s Recordkeeping Requirements Rule

Finovate

As a result of this nightmare, the FDIC has advanced a notice of proposed rulemaking for what it is calling Requirements for Custodial Deposit Accounts with Transactional Features and Prompt Payment of Deposit Insurance to Depositors. A large piece of this provides clarity about FDIC insurance.

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Silicon Valley Bank Collapse: One Year Later

Finovate

As we await more certainty from the Fed around economic forecasting, we expect to see an increase in tech spending, especially at a time when banks’ appetite for increasing efficiency continues to grow at a rapid pace. Financial institutions are actively pursuing ways to strengthen their deposits bases by reviewing FDIC limits.

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The Fed’s crypto pivot: Unlocking banking access and its impact on payments

The Payments Association

A lack of consistent regulatory classification for cryptocurrencies continues to create uncertainty. Regulatory uncertaintyparticularly in the U.S.could continue to limit how widely these changes are adopted, and past failures of crypto-friendly banks still weigh heavily on the sector. What comes next?