- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
A new rule finalized by the FDIC creates new recordkeeping requirements for banks with a large number of deposit accounts. It is intended to facilitate customer restitution if those institutions fail.
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To get a better grip on resolution planning, the FDIC wants banks to do a better job keeping track of deposit data.
During a panel at Compliance Week’s Financial Crimes and Regulatory Compliance Summit, held June 10-11 in New York, experts discussed nuances in bank-financial technology partnerships, offering best practices for how banks should protect themselves.
Two federal banking regulators found deficiencies with the sale of derivatives in the resolution plans of Bank of America, Goldman Sachs, and JPMorgan Chase, while the regulators disagreed on the severity of an issue with Citigroup’s plan.
