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Encouraging Innovation: Brokered Deposits—What Fintechs Need to Know to Partner with Banks under the FDIC’s Proposed Regulations

By John Banes, Luigi L. De Ghenghi, Randall D. Guynn, Jai R. Massari, Annette L. Nazareth, Gabriel D. Rosenberg, Margaret E. Tahyar, Christopher M. Paridon, Eric McLaughlin & Greg Swanson on January 16, 2020
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In a step forward for the digital transformation of banking and partnerships between banks and FinTechs, the FDIC released proposed changes to its brokered deposit regulations in late December 2019. The proposed changes are designed to update the regulatory framework as much as possible within the constraints of the existing statute, Section 29 of the Federal Deposit Insurance Act. For an overview of the parts of the proposal that would widen opportunities for banks, FinTechs and others in the digital transformation see our visual memorandum here.

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John Banes

Mr. Banes is a partner in Davis Polk’s Financial Institutions Group. [Full Bio]

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Luigi L. De Ghenghi

Mr. De Ghenghi is a partner in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Luigi L. De GhenghiEmail
Randall D. Guynn

Mr. Guynn is a partner and head of Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Randall D. GuynnEmail
Jai R. Massari

Ms. Massari is a partner in Davis Polk’s Financial Institutions Group and the trading and markets practice, based in the Washington DC office. [Full Bio]

Read more about Jai R. MassariEmail
Annette L. Nazareth

Ms. Nazareth is a partner and head of Davis Polk’s Washington DC office and leads the trading and markets practice within the firm’s Financial Institutions Group. [Full Bio]

Read more about Annette L. NazarethEmail
Gabriel D. Rosenberg

Mr. Rosenberg is a partner in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Gabriel D. RosenbergEmail
Margaret E. Tahyar

Ms. Tahyar is a partner in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Margaret E. TahyarEmail
Christopher M. Paridon

Mr. Paridon is counsel in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Christopher M. ParidonEmail
Eric McLaughlin

Mr. McLaughlin is an associate in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Eric McLaughlinEmail
Greg Swanson

Mr. Swanson is an associate in Davis Polk’s Financial Institutions Group. [Full Bio]

Read more about Greg SwansonEmail
  • Posted in:
    Corporate & Commercial, Financial
  • Blog:
    FinReg
  • Organization:
    Davis Polk & Wardwell LLP
  • Article: View Original Source

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