ICBA and other groups requested a 30-day comment extension on proposed interagency guidance designed to help banks manage risks associated with third-party relationships, including with fintechs.
Proposal: The proposed guidance is designed to offer a framework of sound risk management principles and would replace each agency’s existing guidance on this topic.
Request: In a joint letter, the groups said a 90-day comment period is warranted given the potential impact of the guidance on banks’ digital transformation.