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OCC Delivers on Community Bank Comeback, Reduces Burden for Third-Party Risk Management
Source: Office of the Comptroller of the Currency
Regulation & LegislationBanking & Liquidity
The Office of the Comptroller of the Currency proposed tailoring third-party risk-management requirements to banks' actual risk exposure, aiming to reduce compliance burdens for community banks. The OCC also plans to provide clearer supervisory and enforcement standards for core service providers, a modestly positive regulatory development for smaller banks and their vendors.
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