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Federal Deposit Insurance Corporation › Due Diligence › Risk Assessment

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Ballard Spahr LLP

Federal Banking Agencies Issue Guide to Third-Party Risk Management Practices for Community Banks

Ballard Spahr LLP on

On May 3, 2024, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (“FDIC”), and the Office of the Comptroller of the Currency (“OCC”) jointly released the...more

Pillsbury Winthrop Shaw Pittman LLP

Bank-Fintech Partnerships and Fair Lending: Top Areas at Risk for Government Scrutiny

Pillsbury Winthrop Shaw Pittman LLP on

The Federal Deposit Insurance Corporation (FDIC) recently published a consent order issued against Cross River Bank that alleged the bank’s fair lending program’s noncompliance and weaknesses in its oversight of fintech...more

BCLP

Vetting FinTechs as Business Risk Partners: OCC Bulletin

BCLP on

Innovation is a key to competitive advantage and keeping pace with consumer digital banking preferences. Increasingly, banks are engaging the services of fintech’s who can deliver certain information and services in a more...more

Nutter McClennen & Fish LLP

FDiTech Releases New Guide to Help 'FinTechs' Connect with Banks

Nutter McClennen & Fish LLP on

On February 24, the FDIC’s technology lab (FDiTech) released “Conducting Business with Banks: A Guide for Third Parties,” a new six-page guide designed to help fintechs and other companies partner with banks. The FDIC’s...more

Troutman Pepper

OCC Establishes New Third-Party Risk Management Expectations, Including for Bank Relationships With Marketplace Lenders

Troutman Pepper on

The bulletin requires relationships between banks and marketplace lenders to be treated with the same rigor of due diligence and ongoing oversight as other relationships with third parties. On January 24, the Office of...more

Balch & Bingham LLP

Managing Litigation Risks in Third Party Technology Service Arrangements

Balch & Bingham LLP on

One of the biggest risk trends for banks to watch in coming years will be risks arising from the outsourcing of information technology. Banking supervisors as well as the Consumer Financial Protection Bureau (CFPB) and the...more

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