The FDIC board today voted to propose amendments to its supervisory guidelines that would expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeals processes and issue examination guidance for third-party lending.
Browsing: Third-party risk
Banks continue to make significant strides in the area of third party risk management — though many are concerned about a lack of knowledge and not having the appropriate tools to efficiently assess and manage vendor risk — according to a study published today by Ernst & Young.
The OCC is focusing on credit risk and strategic risk as the top risk priorities in its supervision of community and midsize banks, according to the agency’s Semiannual Risk Perspective report released today.
For many community bankers, outsourcing of back-office functions is a critical strategic tool that doesn’t compromise the customer experience.
Noting an increase in loan purchases and participations that are originated by nonbanks or facilitated by third parties, the FDIC today issued an advisory on risk management practices for purchases and participations.
Small banks should rank third parties according to their level of risk and continue to perform due diligence throughout the life of the relationship.
Cyber risks — in particular, the extent of contractual protections after a third-party breach — are bankers’ top risk concern, ABA VP Heather Wyson-Constantine said in a recent interview with BankInfoSecurity.