US regulator seeks info on banks’ relationships with fintech firms
The Federal Deposit Insurance Corporation (FDIC) and two other major US banking regulators are seeking more information about the relationship between banks and financial technology companies. The FDIC, the Federal Reserve, and the Office of the Comptroller of the Currency are requesting detailed information on these arrangements, including those related to deposit, payment, and loan products and services. In a joint statement on Thursday, these regulatory agencies stated that officials hope to receive input from the industry and the public on the "nature and impact of bank and fintech arrangements and effective risk management practices."
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