Regulatory Alerts2024-07-25 | SR 24-5SR 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 provide examples of effective risk management practices for banks to consider when participating in such arrangements based on existing supervisory guidance. This statement does not establish new supervisory expectations but serves to alert state member banks to these specific operational and compliance considerations.
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