OCC Proposes Lighter Third-Party Rules for US Community Banks
Finance
Bank Regulation
community banks
Compliance
core service providers
fintech
OCC
third-party risk management
TLDR: OCC proposal shifts third-party oversight from blanket rules to risk-based bank standards. Comptroller Jonathan Gould says the plan cuts regulatory friction for community banks nationwide. New guidance clarifies exactly how the OCC supervises core service providers used by small banks. Banks gain more flexibility to tailor vendor risk management to their size and complexity. [...]
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Source: Source: Blockonomi