FDIC Extends Comment Deadline on Bank Information-Sharing Proposal

The FDIC extended the public comment deadline on its proposed disclosure-of-information rule from August 31 to October 5, 2026.

The proposal would let banks share confidential supervisory information with certain parties without prior agency authorization.

In the extension notice, the FDIC said it was providing interested parties with additional time to analyze the proposal and prepare comments. The American Bankers Association and the Bank Policy Institute had requested the extension to match the October 5 deadline for a substantially similar proposal from the OCC. Both organizations argued that aligning the deadlines would allow stakeholders to compare the two approaches and provide more comprehensive feedback on areas of alignment and divergence.

The underlying FDIC proposal would permit insured depository institutions to share confidential information with affiliates and certain other parties for business purposes without first obtaining FDIC authorization. Sharing with outside counsel, auditors, majority shareholders, qualifying service providers, and potential merger counterparties would require a qualifying confidentiality agreement. Sharing with affiliates and their directors, officers, and employees typically would not. The proposal would also simplify the requirements for the FDIC's discretionary disclosure of confidential information.

Additionally, the proposal would update the agency's Freedom of Information Act process and clarify how FDIC information may be disclosed in legal proceedings.