Legislation sponsored by Rep. Barr would advance data-driven policymaking and improve regulatory clarity for bank-fintech partnerships

Washington, D.C. (December 16, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible both fintech companies and innovative banks, today announced its support for the Bank-Fintech Partnership Enhancement Act (H.R. 6552). In a letter to House Financial Services Committee Chairman French Hill (R-AR) and Ranking Member Maxine Waters (D-CA), AFC urged bipartisan support for legislation sponsored by Representative Andy Barr (R-KY) that would direct federal financial regulators to conduct a comprehensive study on partnerships between fintech companies and banking organizations, including community banks. The study would assess the extent to which these partnerships support community bank health, as well as their impact on the banking sector, competition, innovation, consumer protection, and the availability of financial products and services.

“Responsible bank-fintech partnerships are modernizing the financial system, increasing access to affordable products, and supporting community banks across the country,” said Phil Goldfeder, CEO of the American Fintech Council. “This legislation takes a pragmatic, data-driven approach to policymaking by ensuring Congress and regulators understand how these partnerships function in practice and how oversight can be strengthened without stifling innovation. We thank Representative Barr for his continued partnership and for championing this important bill.”

In its letter, AFC emphasized that responsible bank-fintech partnerships have expanded access to financial services in historically underserved communities, increased competition, and lowered costs for consumers. AFC also noted that requiring an interagency study would help clarify how these partnerships impact community bank health and consumer outcomes, while establishing clearer rules of the road that reinforce the distinct responsibilities of banks and their fintech partners.

“The Bank-Fintech Partnership Enhancement Act is a meaningful step towards clearer, more consistent oversight of bank-fintech partnerships,” said Hayden Cole, Director of Federal Government Affairs at the American Fintech Council. “By grounding future policy decisions in data and real-world outcomes, this legislation can help support responsible innovation and ensure regulatory frameworks keep pace with a rapidly evolving financial system.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

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