Acting Comptroller of the Currency Brian Brooks took the opportunity to detail work the regulator is considering on new third-party vendor management standards during a conversation with American Bankers Association (ABA) President and CEO Rob Nichols at the ABA’s Risk and Compliance virtual conference.
Brooks said he’s asked the “interesting question” about whether supervised entities could gain relaxed onboarding requirements.
Read on for more details, and Brooks’ strident defense of the agency’s true lender proposal.