Federal Financial Agencies Seek Public Comment on Proposed Third-Party Risk Management Guidance for Banks and Credit Unions

The National Credit Union Administration (NCUA), Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board, and Office of the Comptroller of the Currency have jointly requested public comment on proposed guidance. This initiative aims to assist financial institutions in managing risks associated with third-party relationships, drawing on supervisory experience and promoting consistency and prudent innovation within the banking industry.