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ARTICLE · 21 SEPTEMBER 2021

Fintech Legal Report—Week Of September 3, 2021

Perkins Coie LLP
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On August 27, 2021, the federal banking agencies (Federal Reserve, FDIC, and OCC) published "Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks" (the Guide).

United StatesTechnology
Samuel D. Boro
Samuel D. Boro
Logan Payne
Logan Payne
Malika Moore
Malika Moore

Weekly Fintech Focus

  • Federal banking agencies issue a guide for community banks on conducting due diligence on fintech companies.
  • The CFPB issues its long-awaited proposed rule on small business credit data.

Federal Banking Agencies Issue Guide for Community Banks on Conducting Due Diligence on Fintech Companies

On August 27, 2021, the federal banking agencies (Federal Reserve, FDIC, and OCC) published "Conducting Due Diligence on Financial Technology Companies: A Guide for Community Banks" (the Guide). The Guide is intended to serve as a resource for bank management when performing due diligence on prospective relationships with fintech companies. Although the Guide discusses community banks, the content may be useful for banks of any size and for other types of third-party relationships.

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