Bank-Fintech Partnership Enhancement Act
Summary
What This Bill Does
The Bank-Fintech Partnership Enhancement Act requires the Federal Reserve Board, Comptroller of the Currency, and FDIC to study partnerships between banking organizations and fintech companies. The study must assess whether these partnerships support formation of new banking organizations, improve community bank health, reduce time to market, lower compliance burdens, boost customer acquisition, improve technology capabilities, and diversify funding sources. The agencies must also identify legal, rule, or guidance changes that could promote effective partnerships.
The House-reported version adds a separate National Credit Union Administration study of credit union-fintech partnerships. NCUA must assess impacts on the credit union sector, competition, innovation, consumer protection, and availability of financial products and services, and must evaluate whether partnerships support new credit unions, reduce time to market, lower compliance burdens, and improve technology capabilities. Reports are due to Congress within one year.
Who Benefits and How
Community banks benefit if the study validates fintech partnerships that improve technology, customer acquisition, and funding diversity. Fintech companies serving banks benefit because regulators must identify changes that could promote effective partnerships. De novo bank organizers benefit if partnerships are shown to support formation of new banking organizations. Credit unions benefit from a separate NCUA review of how fintech partnerships affect operations and product availability. Consumers of financial products benefit if partnerships improve innovation, competition, or access.
Who Bears the Burden and How
Federal Reserve banking staff must study partnership effects for banking organizations. OCC supervisory staff must assess legal and guidance changes for national banks. FDIC policy staff must evaluate community-bank health and compliance-burden effects. NCUA policy staff must run the credit union partnership study. Banking organizations and credit unions may face more data requests or supervisory attention as regulators evaluate partnership risks. Consumer protection staff must assess whether fintech partnerships introduce new risks.
Key Provisions
- Requires a Federal Reserve, OCC, and FDIC study of bank-fintech partnerships.
- Requires analysis of new-bank formation, community-bank health, time to market, compliance burdens, customer acquisition, technology, and funding diversity.
- Requires identification of legal, rule, and guidance changes that could promote effective bank-fintech partnerships.
- Requires a National Credit Union Administration study of credit union-fintech partnerships.
- Requires NCUA to assess competition, innovation, consumer protection, and financial-product availability.
- Requires reports to Congress within one year.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Requires federal banking regulators and the National Credit Union Administration to study bank-fintech and credit union-fintech partnerships, including effects on new charters, community bank and credit union health, compliance burdens, customer acquisition, technology capability, funding diversity, competition, innovation, consumer protection, and legal or regulatory changes that could promote effective partnerships.
Key Policy Areas
Banking, Credit Unions, Financial Technology, Consumer Finance
Primary Purpose
Requires federal banking regulators and the National Credit Union Administration to study bank-fintech and credit union-fintech partnerships, including effects on new charters, community bank and credit union health, compliance burdens, customer acquisition, technology capability, funding diversity, competition, innovation, consumer protection, and legal or regulatory changes that could promote effective partnerships.
Policy Domains
House resolution provisions
Identified Gains
- Community banks
- Fintech companies serving banks
- De novo bank organizers
- Credit unions
- Consumers of financial products
Identified Costs
- Federal Reserve banking staff
- OCC supervisory staff
- FDIC policy staff
- NCUA policy staff
- Banking organizations
- Consumer protection staff
Sponsors
Legislative Progress
ReportedPlaced on the Union Calendar, Calendar No. 456.
Reported (Amended) by the Committee on Financial Services. H. Rept. …
Additional sponsors: Mr. Gottheimer, Mr. Sessions, Mr. Davidson, Mr. Moskowitz, …
Reported (Amended) by the Committee on Financial Services. H. Rept. …
Ordered to be Reported (Amended) by the Yeas and Nays: …
Committee Consideration and Mark-up Session Held
Committee Consideration and Mark-up Session Held
Introduced in House
Referred to the House Committee on Financial Services.
Mr. Barr introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Community banks, Credit unions, De novo bank organizers
Positive-direction: Community banks, Credit unions, De novo bank organizers, New credit union organizers
Negative-direction: NCUA policy staff
Fintech companies serving banks, Fintech companies serving credit unions
Consumers of financial products, Credit union members
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "fed"
- → Board of Governors of the Federal Reserve System
- "occ"
- → Comptroller of the Currency
- "fdic"
- → Federal Deposit Insurance Corporation
- "ncua"
- → National Credit Union Administration
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology