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Third-Party Service Provider Contract Terms New Guidance

McAfee & Taft

DOL confirms cybersecurity guidance applies to health and welfare plans

McAfee & Taft on

On Friday, September 6, 2024, the U.S. Department of Labor confirmed that its cybersecurity guidance applies to all employee benefit plans, including health and welfare plans. In 2021, the DOL issued guidance providing best...more

Troutman Pepper

FDIC Reminds Small Banks of Need to Oversee Technology Service Providers

Troutman Pepper on

The need to control risks associated with using third-party technology service providers was reemphasized by the FDIC for institutions with less than $1 billion in assets in a new financial institutions letter...more

Stinson LLP

Financial Institution Letter Shows FDIC is Serious About Tech Contracts

Stinson LLP on

In recent years, bank regulators have increased their efforts to require banks to appropriately handle third-party risk management. On April 2, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution...more

Ballard Spahr LLP

FDIC Issues Guidance on Service Technology Service Provider Contracts

Ballard Spahr LLP on

On April 2, 2019, the FDIC issued Financial Institution Letter FIL-19-2019 (the “Letter”) to remind financial institutions about certain contractual provisions and other requirements pertaining to technology service provider...more

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