Every time your bank works with another organization is an opportunity to help each other get better.
Browsing: Vendor relations
In response to feedback from banks and fintech providers, the Federal Reserve, working with other financial regulatory agencies, is developing a fintech vendor due diligence guide for community banks, that would provide specific information about the documents and information they need to successfully complete their due diligence obligations, Federal Reserve Governor Michelle Bowman said in a speech today.
A small shift in how you think about your vendors can make a big difference.
As part of its ongoing efforts to support the financial industry’s transition away from the London Interbank Offered Rate, the Alternative Reference Rates Committee today released a timeline and best practices for industry vendors in supporting the change to the Secured Overnight Financing Rate.
Marketing messages differ, based on bank objectives and partnership model.
In a statement submitted for the record in tomorrow’s House Financial Services Committee fintech task force hearing, ABA highlighted the importance of protecting consumers when they choose to share their financial data with third parties.
In keynote remarks last night at the St. Louis Fed’s community banking research conference, bank CEO Julieann Thurlow outlined Massachusetts-based Reading Cooperative Bank’s innovation journey and how it improved financial inclusion in the communities it serves.
Recent FDIC guidance points to steps banks can take to beef up their vendor agreements.
Cyber, third parties and regulatory changes continue to top the list.
Responding to several questions flagged by ABA, the OCC today issued a set of frequently asked questions to help bankers implement the agency’s 2013 guidance on managing risk associated with third-party relationships.