Browsing: Third-party risk

Compliance and Risk

The COVID-19 crisis has highlighted that our current risk models and third-party risk practices are no longer adequate. A proactive and permanent risk operations commitment can result in competitive advantages of business resilience, reliable regulatory compliance and brand enhancement.


In a speech at the Federal Reserve Bank of Atlanta today, Federal Reserve Governor Michelle Bowman discussed how the Fed can help boost transparency and provide more clarity to community banks about relationships with vendors and third-party service providers.


As part of its efforts to facilitate community bank innovation, the Federal Reserve may provide banks with information about core processors and other critical third-party vendors that the banking agencies supervise directly, Fed Governor Michelle Bowman said today at ABA’s Conference for Community Bankers in Orlando, Florida.

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