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Beyond Dodd-Frank: Reducing Regulatory Risks and Achieving Third-Party Compliance in Financial Institutions

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 might garner the most headlines, but it is hardly the only federal regulation deserving the attention of U.S. banks.

Two other federal regulations are increasing the pressure on banks and other financial institutions to monitor and manage third parties. A third party is any outside entity doing work for a bank, regardless of whether the third party is an individual, partnership, or corporation, and regardless of whether the work is done under contract or on a more casual basis.

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Topics: FCPA, OCC, CFPB