The Federal Deposit Insurance Corporation (FDIC) has proposed new recordkeeping requirements for custodial accounts, as part of its broader regulatory efforts. Director Chopra has cautioned against a new form of 'Rent-a-Bank' schemes. Additionally, the FDIC, along with the Office of the Comptroller of the Currency (OCC) and the Justice Department, has updated guidelines for bank mergers. The proposed 'Synapse' rule by the FDIC will affect deposit accounts opened by fintech custodians. The new recordkeeping requirements were detailed by @Mayer_Brown.