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Financial Institutions Bank Deposits Consumer Financial Products

Troutman Pepper

FDIC Proposal Would Classify More BaaS Deposits as Brokered, Not Core

Troutman Pepper on

“I would say a lot of these fintechs deposits are actually the opposite of hot money,” said Matthew Bornfreund, a partner at Troutman Pepper. “I think a problem with this proposed rulemaking is, the FDIC asserts that these...more

A&O Shearman

UK Financial Conduct Authority To Allow 90-Day Unbreakable Deposits For Client Money

A&O Shearman on

The UK Financial Conduct Authority has published a Policy Statement and final rules to introduce changes to its client money rules to amend the existing 30-Day Rule, under which firms are prevented from placing client money...more

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