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OCC’s Curry stresses community bank vendor management expectations
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Banking
Monday, March 10, 2014
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Comptroller of the Currency Thomas Curry said a recent bulletin from his agency regarding vendor management is not intended to dissuade community banks from engaging in third-party relationships. However, he told attendees at the Independent Community Bankers of America Annual Convention in Honolulu that institutions will be expected to understand and address the “very significant risks” associated with third-party relationships, especially when it comes to protecting customer data. Read on for the details.
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