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Best Practices in Banking Vendor Management

By Scott Sargent

For the past several years, federal regulators have targeted vendor management risk as one of their top regulatory priorities. The growing reliance on third-party service providers is only increasing the need and demand for effective vendor management programs.  On April 2, the FDIC reminded the banks under its supervision that it expects them to comply with the guidance previously issued.[1]

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Regtech Pioneer Believes Adaption Is Accelerating

By Justin Dullum

Jo Ann Barefoot has been doing a lot of globetrotting lately. Since being named the first female Deputy Comptroller of the Currency in 1978, Barefoot launched a career in the private sector and describes herself as a “serial entrepreneur.” She is currently CEO of Barefoot Innovation Group, something of a think tank for financial technology, regulatory reform and the future of banking. She is a co-founder of Hummingbird Regtech (industry shorthand for regulation technology), and is a senior fellow emerita at Harvard University’s John F. Kennedy School of Government’s Center for Business & Government.

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FDIC Chairs Consider the Cycles of Regulation

By Tom Bengtson

Can regulators reduce the regulatory burden for bankers without hurting industry safety and soundness or weakening consumer protections? Two FDIC chairs — one former, one current — shared comments that addressed that question during recent forums in Minneapolis.

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The Long, Winding DIF Road

By Tom Bengtson

You might remember in late 2009 when the FDIC required banks to pre-pay three years’ worth of deposit insurance premiums. Despite a one-time 5-basis-point special assessment levied against the industry mid-year, the Deposit Insurance Fund was precariously low at a time when more bank failures seemed imminent. The mandated pre-pay, however, flooded the DIF with $45 billion, which proved essential for getting it through the crisis. Protected by massive liquidity migrated from volatile equity markets, banks withstood the financial hit.

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Payment Realities

By Tom Bengtson

Was anyone surprised when the Fed announced Aug. 5 it would create a real-time payment and settlement service? The Fed has been the backstop clearing house for payments for more than a century; the evolution of those payments to digital is no reason for the Fed to back away from the crucial work of facilitating payments and settlement.

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