FDIC mulls standards setting organization for onboarding

Could a centralized organization which provides certifications help ease the process of vendor management between financial organizations and third parties?

That’s the question the Federal Deposit Insurance Corp. is hoping to find answers to after recently issuing a request for information about the creation of a standards setting organization which would ease the onboarding process for institutions.

Read on for details of the request and information from agency officials including Chairwoman Jelena McWilliams and deputy director Leonard Chanin.