ICBA called on federal regulators to continue improving the regulatory environment for community banks to establish relationships with fintechs. In letters to the FDIC, OCC, and Federal Reserve, ICBA called on the agencies to:
- expand supervised experimentation, such as sandboxes or pilot programs,
- increase improvements to third-party guidance,
- share information on examinations of significant service providers, and
- reaffirm the "valid-when-made" doctrine providing that a loan that is valid under federal law will remain valid when sold or reassigned to a third party.