Federal banking regulators have extended the comment period on their request for information (RFI) about bank-fintech arrangements involving banking products and services.
The agencies are interested in learning about the nature and implications of these types of arrangements, as well as effective risk management practices.
The agencies’ decision was influenced by a request to provide the public additional time to consider the request, prepare comments, and address the questions posed by the agencies.
“After reviewing the request, the agencies find it appropriate to grant the request and extend the comment period by an additional 30 days,” according to the agencies’ notice published in the Federal Register. “An extension of the comment period will provide additional opportunity for the public to consider the request, prepare comments, and address the questions posed by the agencies.”
The RFI was issued by the Office of the Comptroller of the Currency, Federal Reserve, and Federal Deposit Insurance Corp.
Comments were originally due by Sept. 30 but will now be due on Oct. 30 instead.