Oktober 28. 2024

Recent Developments in the Payment Industry

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Join us for a new episode of Financial Services Focus with Mayer Brown Partner, David Beam, and Houlihan Lokey Managing Director, Kartik Sudeep. Beam and Sudeep discuss developments in the payments industry, including real-time payments and cross-border transactions, as well as concerns about fraud and the evolving regulatory landscape, the integration of FinTech and banks, and the impact of regulatory compliance on acquisitions.

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FDIC Proposes New Recordkeeping Requirements for Custodial Accounts

On September 17, 2024, the Federal Deposit Insurance Corporation (FDIC) proposed extensive new recordkeeping requirements and other compliance obligations (the “Proposal” ) for certain types of deposit accounts frequently used by banking-as-a-service (BaaS) platforms and other bank-fintech partnerships.
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