CFPB Reissues Guidance on Supervised Bank and Non-Bank Relationship with Third-Party Service Providers – Lexology

On October 31, 2016, the Bureau of Consumer Financial Protection (“CFPB”) reissued Bulletin 2012-03 (Service Providers) to clarify certain aspects of the risk management program for service providers. The intention behind the release is to clarify that appropriate risk management can be accomplished through giving flexibility to supervised entities.

Source: CFPB Reissues Guidance on Supervised Bank and Non-Bank Relationship with Third-Party Service Providers – Lexology