Regulatory AlertsSR 24-5: Joint Statement on Banks’ Arrangements with Third Parties to Deliver Bank Deposit Products and Services
The Board of Governors of the Federal Reserve System, the FDIC, and the OCC issued a joint statement highlighting potential risks associated with banks' arrangements with third parties to deliver deposit products and services. The agencies emphasize effective risk management practices based on existing supervisory guidance without establishing new regulatory expectations. Reserve Banks are directed to distribute the statement to state member banks within their districts to ensure awareness of these third-party relationship risks.
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