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FDIC
FDIC Tightens Grip on Fintech Firms, Proposes Record-Keeping Rules for Banks
- The new rules target pooled accounts often used by fintech apps, ensuring that banks maintain accurate records.
- According to the regulator, enhanced record-keeping could improve customer protection and expedite payments in case of bank failures.
Tuesday, 17/09/2024 | 15:47 GMT by
Jared Kirui
Silicon Valley Bank Rescued by First Citizens in FDIC-Approved Deal
- First Citizens Bank acquired failed SVB, stabilizing its operations and calming market concerns.
- FDIC-approved takeover sees First Citizens Bank assume control of Silicon Valley Bank's loans and deposits.
Monday, 27/03/2023 | 09:11 GMT by
Damian Chmiel
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