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Third-Party Risk Management Special Section

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Regulators continue to pay close attention to third-party risk management. In the latest Semi-annual Risk Perspective (Fall 2020) by the OCC, third-party concern is highlighted in the “Special Topics on Emerging Themes” section of the report: “While banks are evolving and adapting to … changes in payment systems, many are using third-party relationships to manage new technologies and payment products. As part of this growth, banks are entering into partnerships …

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