Comments to the FDIC Regarding Recordkeeping for Custodial Accounts
NCLC, on behalf of its low-income clients, supports the FDIC’s proposed rule regarding record keeping of custodial accounts, but urges the FDIC to do more. Custodial accounts impact consumers who “bank” with fintech nonbank companies offering banking services. The proposed rule will help ensure that records are up to date, which will ensure that consumer…
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