Cryptic crossword clue
Subject to update from bank? That’s putting it mildly 14

The most common and most likely answer to this crossword clue is the 14 letter word UNDERSTATEMENT

I've seen this crossword clue in The Times
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Buddy explains!

The straight part
We know that "putting it mildly" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case putting it mildly = understatement.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does UNDERSTATEMENT mean?

UNDERSTATEMENT noun
  1. An incomplete statement, particularly:

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