Community banking groups push regulators to lower hurdles for fintech partnerships Representatives of community-banking trade groups told a Federal Reserve Board panel that vendor concentration, duplicative due diligence and restrictive supervisory information rules impede innovation; they proposed shared due-diligence frameworks, CSI reform and broader use of the Bank Service Company Act.

Community bank advocates are urging regulators to dismantle barriers that stifle fintech partnerships, warning that innovation could slip into unregulated territories if the environment remains too restrictive.

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