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Why This Matters
This bill aims to understand how partnerships between banks and financial technology companies can improve banking services and support new bank creation. It also seeks to identify any legal changes that could enhance these collaborations.
If you rely on banking services, this study could lead to better options and faster access to new financial products.
Who this affects
banking consumers · new bank or credit union founders
What changes is this bill making?
1This bill requires a study on how banks and fintech companies can work together.
2It looks at how these partnerships can help create new banks and improve services.
3The study will also explore changes to laws that could support these partnerships.
4Reports on the findings must be submitted to Congress within a year.
5The National Credit Union Administration will conduct a similar study for credit unions.
