Search Results for "Industry-Wide"
8 results for "Industry-Wide"
Regulatory Actions 8
Industry-Wide
The FDIC published a speech or update on reforms to its regulatory toolkit, potentially addressing BaaS and third-party risk management supervisory approaches.
N/A — Industry-wide guidance
The FCA published Policy Statement PS25/12 on August 7, 2025, introducing strengthened safeguarding rules for authorized payment institutions and e-money institutions, effective May 7, 2026.
N/A — Industry-wide
The FCA published strengthened safeguarding rules (PS25/12) effective August 2025 for authorised EMIs, payment institutions, and small EMIs to protect client funds in the event of firm failure. Interim compliance measures take effect May 2026.
Industry-Wide
The OCC, FDIC, and Federal Reserve issued a Request for Information seeking public comments on risks in bank-fintech arrangements, including accountability gaps, end-user confusion, rapid growth, concentration, liquidity, and data ownership.
N/A — Industry-wide joint statement
The OCC, Federal Reserve, and FDIC jointly issued a statement on July 25, 2024, highlighting risks in third-party arrangements for bank deposit products and services. The statement emphasizes that banks retain full accountability for consumer protection, financial crimes prevention, and safe/sound practices despite outsourcing to fintechs.
Industry-Wide
The OCC, FDIC, and Federal Reserve jointly issued a statement reminding banks of risks in third-party arrangements with fintechs for delivering deposit, payment, and lending products. The statement outlines risk management examples without creating new rules.
Industry-Wide
The Federal Reserve published a guide in August 2021 for community banks on conducting due diligence for fintech third-party relationships. The guide covers legal compliance, risk management processes, contract provisions for audits, and consumer protection alignment.
Industry-Wide (All FDIC-Supervised Banks)
The FDIC finalized a new brokered deposits rule on December 15, 2020, that excluded certain fintech-bank arrangements from brokered deposit restrictions. The rule was supportive of BaaS partnerships rather than punitive.