The U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on bank-FinTech partnerships, with Chairman Bryan Steil using his prepared opening remarks to frame these arrangements as a driver of innovation, consumer choice, and broader access to financial services. He presented the hearing as an examination of how collaboration between banks and financial technology firms can bring new products to market while preserving the protections associated with regulated banks. In his remarks, Steil said these partnerships combine FinTech firms’ speed and technological capabilities with banks’ compliance frameworks, consumer protections, and trust, and noted that community and regional banks are among those leading such efforts. He also stressed that the benefits depend on prudent risk management, strong oversight, due diligence, consumer protection, and compliance safeguards, while arguing that federal regulators and examiners should not restrict innovation simply because a product or technology is new or unfamiliar. The hearing was set to review recent developments in the area and hear from witnesses on what policymakers can do to support innovation through bank-FinTech partnerships.
U.S. Financial Services Committee2026-05-20
U.S. House Financial Services Committee subcommittee holds hearing on bank FinTech partnerships
The U.S. House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing on bank–FinTech partnerships, with Chairman Bryan Steil highlighting these arrangements as drivers of innovation, consumer choice, and access to financial services. Steil emphasized pairing FinTechs’ technological capabilities with banks’ compliance and consumer protections, and argued regulators should not constrain innovation solely because products or technologies are new.