Juan Azel Discusses Brokered Deposits on American Fintech Council Panel

In partnership with the American Fintech Council, Winston Financial Services partner Juan Azel joined leaders from Kaufman Rossin, Dataseers, and Thread Bank to discuss the implications of brokered deposits amid recent FDIC regulatory changes during the panel “Brokered Deposits: Regulatory Changes Creating Problems in Search of a Solution.” The 2020 FDIC rule initially enabled banks—particularly those partnering with FinTechs—to enhance banking access for underserved communities. However, the FDIC's proposed new framework may disrupt these advancements.

The conversation focused on the relationship between banks and customers, the importance of third-party deposits, and the critical separation between institutions and clients. Key topics included the reconciliation process, Know Your Customer (KYC) requirements, compliance audit roles, and risk mitigation strategies. Panelists emphasized how banks can adapt to evolving regulations while prioritizing client protection and service quality.

Watch the panel discussion here or below.