ICBA and other groups requested a 30-day extension to the comment period for the regulatory agencies’ request for information on bank-fintech arrangements.
Background: The banking agencies’ RFI solicits input on the nature of bank-fintech arrangements, effective risk-management practices, and whether enhancements to existing supervisory guidance may be helpful.
ICBA View: ICBA and the other groups emphasized that bank-fintech partnerships play a crucial role in the evolution of banking and that this important issue warrants additional time to thoroughly consider stakeholders’ input.