OCC Must Recognize the Benefits of Bank-Fintech Partnerships

In response to the OCC’s request for information on community bank digitalization, the Innovative Payments Association (IPA) submitted a letter underscoring the positive role of bank-fintech partnerships in expanding access to modern financial tools.

“Fintech partnerships are delivering responsible innovation to underserved communities and enhancing stability for community banks,” said IPA President and CEO Brian Tate. “These partnerships already operate under an existing, robust regulatory framework.”
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The letter urges the OCC to avoid duplicative regulations that could stifle innovation. IPA highlighted how bank-fintech products like prepaid accounts, earned wage access, and small-dollar loans empower consumers—especially those who might otherwise turn to high-cost alternatives like payday lenders.

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