FDIC, OCC Propose Rules to Ease Bank Information Sharing
Proposed rules from two key US bank regulators would allow banks to share non-public supervisory information with a wider range of third parties, including fintech partners and M&A counterparties, without prior agency approval.
The FDIC and OCC have proposed significant updates to their regulations governing the disclosure of non-public information, including confidential supervisory information (CSI). If finalized, the new rules would allow regulated banks to share this information with a broader set of third parties—such as affiliates, service providers, outside counsel, and potential merger counterparties—without seeking prior agency approval, a notable departure from current practice. The change is intended to reduce administrative friction and improve the efficiency of supervisory processes and business operations, particularly for bank-fintech partnerships. While the proposals would align the FDIC and OCC more closely with the Federal Reserve Board's approach, material differences would remain. Both proposals require the disclosing institution to enter into a qualifying confidentiality agreement with the recipient, which would make the agency an enforceable third-party beneficiary. Comments on both proposed rules are due by October 5, 2026.