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The Federal Deposit Insurance Corp. has proposed a rule to modernize representations of insured deposits and finalized guidelines for appeals of material supervisory determinations.
The revised policy increased maximum penalties for the largest banks, outlined stronger accountability measures and expanded the OCC's authority to restrict business activities.
Regulators are starting to look at bank-fintech partnerships as a source of systemic risk, but the real problem is the lack of consistent prudential rules outside of banking.