January 17, 2025 1 min read

CFA Comment to FDIC Regarding Recordkeeping for Custodial Accounts

CFA TC

The Consumer Federation of America submitted the following comment to the FDIC in response to its proposed rules for record keeping of ledgers of custodial bank accounts. The FDIC's proposal would address some of the shortcomings that occurred in ledgering of fintech accounts by Synapse and its bank partners.

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