It is no secret that the Federal Reserve, the FDIC, and the OCC have zeroed in on banks' use of third parties for products, services, and other operations, the risks those arrangements may pose, and banks' responsibility to...more
5/14/2024
/ Banking Regulators ,
Banking Sector ,
Banks ,
Community Banks ,
Enforcement ,
Enforcement Actions ,
FDIC ,
Federal Reserve ,
Final Guidance ,
Financial Institutions ,
Joint Policy Statements ,
New Guidance ,
Nonbank Firms ,
OCC ,
Regulatory Oversight ,
Risk Management ,
Third-Party ,
Third-Party Risk
Consumer use of "buy now, pay later" (BNPL) products and programs has proliferated over the last few years. While federal oversight has not been extensive to date, new guidance from the Office of the Comptroller of the...more
Everyone—including fintechs, other non-bank companies, and associated individuals—that either partners with banks or seeks to provide alternatives to insured deposits must comply with the FDIC's deposit insurance advertising...more
Financial technology companies (fintechs) and other third parties in bank partnerships are routinely subject to scrutiny by their banking partner customers. The Federal Reserve System, the Federal Deposit Insurance...more
6/9/2023
/ Banking Sector ,
FDIC ,
Federal Reserve ,
Final Guidance ,
Financial Institutions ,
Financial Regulatory Agencies ,
FinTech ,
OCC ,
Proposed Guidance ,
Risk Management ,
Third-Party Relationships ,
Third-Party Service Provider