Bass, Berry & Sims attorneys Tony McFarland and Brian Iverson will present a webinar titled "Outsourced, but Not Forgotten: Third-Party Regulatory Requirements for Financial Institutions." Bass, Berry & Sims is partnering with Prevalent, Symantec and NYSE Governance Services to present the webinar, which will take place on Wednesday, April 8 from 1:00 - 2:00 pm EST.
Strategic outsourced vendor relationships are an essential business model component of most, if not all financial institutions. Third-party vendors are frequently used for payment processing, telemarketing, online account management, and other tasks within a financial institution.
Properly managed, third-party vendors provide specialized skills at a cost far lower than the financial institution would incur if they performed the functions in-house. Although vendor relationships offer substantial benefits, they expose the financial institution and its customers to increased risk.
This webinar will explore the vast body of regulatory discussion, specifically focusing on commentary in the past few years from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the board of governors of the Federal Reserve.
The webinar will discuss hot-button issues for current regulatory enforcement actions, and provide predictions of fertile grounds for future enforcement actions. It will also address legal challenges to recent vendor-management regulatory commentary, concluding with best practices and key takeaways.