Fintech
FDIC, Two Other Regulators Request Information on Bank-Fintech Ties
THE Federal Deposit Insurance Corporation and two other major U.S. banking regulators want more information about the relationships between lenders and financial technology companies.
The FDIC, Federal Reserve and the Office of the Comptroller of the Currency are seeking details on such arrangements, including those related to deposit, payment and lending products and services. Officials want input from industry and the public on “the nature and implications of arrangements between banks and fintechs and effective risk management practices,” the regulators said in a joint statement Thursday.