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| Breaking down proposed Third-Party Risk Management Guidance |
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It’s possible that new proposed guidance on managing risks associated with third-party and vendor relationships could supersede some—and maybe all—of the NCUA’s existing guidance if finalized. A new post on the Compliance Blog breaks down the proposal, issued issued by the NCUA and other federal financial regulators in September.
The blog post highlights key credit union takeaways from the proposal, and notes that, if finalized, the NCUA, Federal Reserve, Office of the Comptroller of the Currency, and FDIC plan to rescind existing third-party risk management guidance and replace it with the finalized guidance.
Following a full analysis of the proposal, America’s Credit Unions will issue a Regulatory Comment alert to solicit member feedback and submit comments. Comments are due to the agencies on Nov. 16.
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