Yesterday, the American Bankers Insurance Association (ABIA) hosted a Compliance Webinar on Service Provider and Third Party Oversight. Chrys Lemon and Michael Aphibal, McIntyre & Lemon, PLLC discussed how banks are being held responsible for their oversight of service providers and other third parties that have contact with bank customers, such as for marketing and product fulfillment. The webinar explored the view of the CFPB, OCC and Federal Reserve Board on what is required to adequately oversee service providers, including the conduct of due diligence in the selection of service providers and the agencies’ guidance on monitoring service providers via contractual expectations, internal controls, and periodic monitoring.
Download the presentation.
Listen to the recording.
Interested in participating in an ABIA Compliance Webinar? Please visit our webpage to view the topics and register for our upcoming webinars.