Regulatory Alerts2024-10-11
Credit Bureau Industry Comments Outsourcing Standard
Regulators issued the Credit Bureau Industry Comments Outsourcing Standard to establish clear compliance requirements for financial institutions outsourcing critical operations. The document mandates rigorous risk assessments, vendor due diligence, and continuous monitoring to mitigate operational disruptions. It also incorporates direct industry feedback to streamline reporting obligations and align regulatory expectations with practical business operations.
Share