OCC - Office of Comptroller of Currency
09/13/2024 | Press release | Distributed by Public on 09/13/2024 15:05
Bank-Fintech Arrangements: Agencies Extend Comment Period on Request for Information on Arrangements Involving Banking Products and Services Distributed to Consumers and Businesses
Summary
On September 13, 2024, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively, the agencies) announced that they will extend the comment period for the request for information (RFI) on bank-fintech arrangements involving the distribution of banking products and services to consumers and businesses until October 30, 2024.
The agencies extended the comment period to allow interested parties additional time to prepare and submit comments. The previous deadline for comments was September 30, 2024.1
Note for Community Bank
This request for information applies to all banks that may want to comment on the RFI.
Highlights
The RFI published in the Federal Register on July 31, 2024, solicits input on the nature of bank-fintech arrangements, effective risk management practices regarding bank-fintech arrangements, and the implications of such arrangements, including whether enhancements to existing supervisory guidance may be helpful in addressing risks associated with these arrangements.
Comments must be received by October 30, 2024.
Further Information
Please contact Miriam Bazan, Financial Technology Policy Specialist, Office of Financial Technology, at (202) 649-5200; or Micah Cogen, Counsel, Chief Counsel's Office, at (202) 649-5490.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy