The Federal Deposit Insurance Corp. will take a more “open-minded” approach to financial technology and digital assets and withdraw proposals that would’ve tightened “hot money” rules and bank board requirements, the agency’s new acting chairman said.
The federal agency backstopping customer bank deposits will also undertake a wholesale review of its regulations and guidance, take another stab at updating its bank merger review policy, and pursue “adjustments” to bank capital and liquidity rules, acting Chairman Travis Hill said in a statement Tuesday.
Hill said the FDIC under his watch would stop “coloring outside the lines” and stay within its statutory ...