Bank-Fintech Arrangements: Request for Information on Arrangements Involving Banking Products and Services Distributed to Consumers and Businesses

Summary

Today 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) released a request for information (RFI) on arrangements in which one or more financial technology (fintech) companies, as defined in the RFI, engage with banks¹ to distribute banking products and services to consumers and businesses (referred to as bank-fintech arrangements).

Relatedly, the agencies also issued a joint statement on banks’ arrangements with third parties to deliver bank deposit products and services to end users. More information on the joint statement can be found in OCC Bulletin 2024-20.

Highlights

The RFI

• describes the nature of bank-fintech arrangements, including descriptions of several types of bank-fintech arrangements and the companies involved.
• raises the possible implications of these arrangements for risk management, safety, soundness, and compliance with applicable laws and regulations.
• poses a series of questions related to bank-fintech arrangements for comment.

The RFI is not intended to impose any obligations or define any rights, and it is not an interpretation of any regulation or statute. The OCC’s mission is to ensure that national banks and federal savings associations operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations.

Comments must be received within 60 days of publication in the Federal Register.

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

Related Links

• “Request for Information on Bank-Fintech Arrangement Involving Banking Products and Services Distributed to Consumers and Businesses” (PDF)
• “Joint Statement on Banks’ Arrangements With Third Parties to Deliver Bank Deposit Products and Services” (PDF)