Third-party service providers and vendor management: what banks need to know about new guidance

Two years after it was first proposed, the Interagency Guidance on Third-Party Relationships: Risk Management has been finalized. This new vendor management guidance from the federal regulatory agencies aligns vendor management requirements among the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve and replaces existing guidance.

What does this new third-party service provider (TPSP) vendor management guidance mean for banks? 

We’re here to break it down for you. 

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