Regulators extend comment period for RFI on bank-fintech arrangements

The federal banking regulatory agencies announced this week that they will extend the comment period on a request for information (RFI) on bank-fintech arrangements involving banking products and services.

The comment period will now be extended until Oct. 30, from the previous deadline of Sept. 30.

The agencies are seeking input on the nature and implications of bank-fintech arrangements and effective risk management practices.

Specifically, on July 31, the agencies published in the Federal Register a request for information and comment soliciting input on the nature of bank-fintech arrangements, effective risk management practices regarding bank-fintech arrangements, and the implications of such arrangements. These implications include whether enhancements to existing supervisory guidance may be helpful in addressing risks associated with these arrangements.

The regulators said that extending the comment period will allow the public more time to consider the request, prepare comments, and address the questions posed by the agencies.

The federal banking regulatory agencies include the Federal Deposit Insurance Corporation (FDIC), the U.S. Treasury, Federal Reserve Board, and the Office of the Comptroller of the Currency (OCC).

The comments can be submitted through the Federal eRulemaking Portal – Regulations.gov . Interested parties can enter “Docket ID OCC-2024-0014” in the website’s Search Box. For assistance with the Regulations.gov site, call 1-866-498- 2945 or e-mail regulationshelpdesk@gsa.gov .

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