ICBA supports FDIC program for third-party compliance

ICBA said it supports an FDIC standard-setting organization and voluntary certification program that would ease the process of vetting and partnering with fintechs and other third parties. The program under consideration would establish standards and certify third-party compliance.

Responding to an agency request for information, ICBA said the program could help community banks seek third-party partnerships while mitigating the associated burden on banks and fintechs alike.

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