Sponsors (7)
The bill seeks to accelerate fintech–bank and fintech–credit union innovation and provide regulatory clarity through a rapid interagency review, trading off the potential for faster, cheaper, and more accessible services against risks of increased costs, privacy/fraud exposure, and possibly incomplete recommendations due to the tight one-year deadline.
Consumers, small businesses, and credit union members could get faster access to innovative fintech-enabled financial products and services as partnerships reduce time-to-market.
Policymakers and the public will receive an authoritative interagency report with actionable recommendations, improving regulatory transparency and legal certainty for banks, credit unions, and fintechs.
Consumers could gain stronger consumer protections and safer fintech-banking services if agencies identify and adopt regulatory changes that enhance safeguards.
Banks, credit unions, and fintechs could face new regulatory and compliance burdens from recommended rule changes, leading to higher operating costs that may be passed on to customers and members.
Consumers — including low-income individuals — could face increased privacy, fraud, or consumer-protection risks if recommendations favor partnership expansion without strong data safeguards and oversight.
A one-year deadline for the interagency report could produce superficial or incomplete recommendations that overlook complex systemic or operational risks, requiring further study before safe implementation.
Based on analysis of 3 sections of legislative text.
Requires federal regulators to study bank–fintech and credit union–fintech partnerships and report findings and recommended legal/regulatory changes to Congress within one year.
Introduced December 10, 2025 by Garland H. Barr · Last progress December 10, 2025
Requires federal banking regulators and the National Credit Union Administration to study partnerships between banks/credit unions and financial technology (fintech) companies, assess effects on competition, innovation, consumer protection, and access to services, and identify legal or regulatory changes that could promote effective partnerships. Each set of agencies must deliver a written report of findings and recommendations to Congress within one year of enactment.