FDIC, Two Other Regulators Request Info on Bank-Fintech Ties

By Stephanie Stoughton

Published: July 25, 2024 at 3:30PM EDT

The Federal Deposit Insurance Corp. (FDIC) headquarters in Washington, DC, US, on Monday, May 20, 2024. Earlier this month, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Federal Housing Finance Agency announced that they had taken an initial step toward imposing the long-delayed Dodd-Frank Act rule, which would force banks to claw back some pay from executives taking on too much risk. Photographer: Al Drago/Bloomberg (Al Drago/Bloomberg)

(Bloomberg) -- The Federal Deposit Insurance Corp. and two other top US bank regulators want more information on lenders’ relationships with financial-technology firms.

The FDIC, Federal Reserve and the Office of the Comptroller of the Currency are asking for details on those arrangements, including those related to deposit, payments and lending products and services. Officials want input from industry and the public on “the nature and implications of bank-fintech arrangements and effective risk management practices,” the regulators said in a joint statement on Thursday.