The Federal Deposit Insurance Corporation (“FDIC”) proposed in its Notice of Proposed Rulemaking (“NPR”) that insured IDIs keep records of individual accounts that are typically held in pooled custodial accounts that support...more
9/24/2024
/ Bank Secrecy Act ,
Certification Requirements ,
Comment Period ,
Compliance ,
Corporate Transparency Act ,
Customer Due Diligence (CDD) ,
Deposit Accounts ,
Depository Institutions ,
FDIC ,
FinTech ,
Insured Depository Institutions ,
NPRM ,
Prepaid Payment Products ,
Recordkeeping Requirements ,
Sponsors
The federal consumer protection agency’s proposed rule would give consumers greater control over access to their personal financial information held by banks and credit unions. The CFPB’s stated goal is to increase...more
11/6/2023
/ APIs ,
Compliance ,
Compliance Dates ,
Consumer Financial Protection Bureau (CFPB) ,
Data-Sharing ,
Dodd-Frank ,
Financial Services Industry ,
NPRM ,
Open Banking ,
Personal Data ,
Proposed Rules ,
Regulation Z
Today’s proposed rule will greatly expand the application of reporting requirements identifying the true owners of business entities formed under U.S. law or formed under foreign laws and registered to do business in the...more