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A High Bar for Third-Party Risk Management

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In June 2023, the Office of the Comptroller of the Currency (OCC), Federal Reserve, and Federal Deposit Insurance Corporation published lnteragency Guidance on Third-Party Relationships: Risk Management. This guidance replaces separate guidance from the agencies going back as far as 2008 and the OCC’s 2020 FAQs. 

Ten years after previous guidance that substantially expanded and heightened expectations for managing third-party relationships, this latest iteration …

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