ICBA, fintechs push for modernized CSI framework

ICBA and the American Fintech Council encouraged the federal banking agencies to modernize the framework governing confidential supervisory information.

Details: In a joint letter to the FDIC, Federal Reserve, and OCC, ICBA and AFC said:

• They fully support the foundational purpose of CSI: preserving candor between supervisors and banks, protecting depositor confidence, and preventing sensitive findings from moving markets.

• Some supervisory practices may be out of step with the realities of a partnership-driven banking ecosystem, and tailored sharing of CSI can help bring them into alignment.

• The agencies should clarify and align the scope of CSI and enable inclusion of agents and key partners.