FSB Flags Third-Party Risk in New Consultation Paper
The Financial Stability Board today issued a paper on outsourcing and third-party risk management.
Browsing: Third-party risk
For Community Banks, COVID-19 Brings Existential Concerns to Fore
Business conditions were most often called the single biggest challenge facing community banks, according to an annual survey released yesterday by the Conference of State Bank Supervisors.
ABA Outlines Possible Features of Third-Party Technology Certification Program
The American Bankers Association today outlined possible features of a public-private partnership that could certify third-party technology providers.
A Core Transformation Strategy Session
Five strategies for community and midsize banks weighing “what next?” for their core processing needs.
McWilliams Emphasizes Innovation’s Role in Financial Inclusion
Financial innovation can deliver “tremendous benefits” to consumers and help minority depository institutions enhance participation in the mainstream financial system, FDIC Chairman Jelena McWilliams said today.
ABA Offers Feedback to OCC on Fostering Innovation
In an extensive comment letter to the OCC today, the American Bankers Association offered feedback on a recent advance notice of proposed rulemaking on several issues related to digital technology and innovation.
Agencies Weigh Options for Reducing Burdens Around Bank, Third-Party Partnerships
Senior regulatory officials said they are considering ways to reduce burdens banks face when partnering with third-party service providers, including fintech firms.
A New Way Forward with Risk Operation Centers
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.
OCC Issues Long-Awaited ‘True Lender’ Proposal
In a long-awaited move, the OCC today issued a proposal establishing a “clear test” to determine when a bank making a loan is considered the “true lender” in the context of a partnership between a bank and a third party.
Podcast: OCC’s Brooks Plans to Unveil ‘Payments Charter 1.0’ This Fall
The OCC is planning to unveil what Acting Comptroller Brian Brooks called “payments charter 1.0” as soon as this fall, Brooks said on the latest episode of the ABA Banking Journal Podcast.