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Global newsletter: Regulators provide clarity on bank-fintech partnerships
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Global newsletter: Regulators provide clarity on bank-fintech partnerships

Global newsletter: Regulators provide clarity on bank-fintech partnerships

Peter Renton·
News Roundup
·Jun. 9, 2023·4 min read

The following is an excerpt from today’s Global Newsletter.

Bank-fintech partnerships have been a thing for over a decade, but there has never been comprehensive guidance on managing these.

Until now.

Subscribe to the Global Newsletter

This week the FDIC, OCC, and the Fed produced a 68-page interagency report detailing how banks should manage third-party relationships.

The TL;DR is that banks must do more to monitor their fintech partnerships, but this should lead to healthier and more productive relationships. Banks will now be more demanding of their fintech partners, so we all need to be ramping up compliance too.

At least this provides clarity…something sorely missing in the crypto space.

OCC headquarters building.
OCC headquarters building.

Featured

Share this article  USA
FDIC, Fed, OCC finalize guidance for banks’ third-party partnerships
By Catherine Leffert  
The interagency report recommends practices for financial institutions to manage relationships with fintechs and other third parties.

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  • Peter Renton
    Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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