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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). The new feature in Brex Cash allows customers the choice to hold cash savings with FDIC insurance, or invest in Money Market Funds.

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The 2024 GonzoBanker Awards

Gonzobanker

BaNCS March-announced win of $20B Central Bank (Missouri). The FDIC’s Rule Proposal would end a common banking-as-a-service practice that allows banks to count deposits originated by financial technology partners as core and require them to classify the funds as brokered.

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