On July 25, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies) issued a “Joint Statement on Banks’ Arrangements with Third Parties to Deliver Bank Deposit Products and Services” to “note potential risks related to arrangements between banks and third parties to deliver bank deposit products and services to end users”.… Continue Reading

CFPB Director Rohit Chopra recently gave opening remarks at the joint meeting of the Community Bank and Credit Union Advisory Councils.  In them, he expressed a desire to re-direct the CFPB’s attention to the needs of financial institutions used by local businesses and to make relationship banking a key priority for the CFPB.… Continue Reading