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FI Authorities & Requirements


Relevant Regulators and Authorities Include:
  • Office of the Comptroller of the Currency (OCC)

  • Board of Governors of the Federal Reserve System (Federal Reserve)

  • Federal Deposit Insurance Corporation (FDIC)

  • National Credit Union Administration (NCUA)

  • Securities and Exchange Commission (SEC)

  • Financial Industry Regulatory Authority (FINRA)

  • Federal Financial Institutions Examination Council (FFIEC)

State bank supervisors (e.g., New York Department of Financial Institutions NYDFS; Washington State Department of Financial Institutions; Texas Department of Banking

Relevant Regulations and Guidance are:

The bank regulatory agencies generally have the authority to examine and regulate banking-related functions or operations performed by third parties for a banking organization to the same extent as if the banking organization itself performed them. See 12 U.S.C. §§ 1464(d)(7)(D) and 1867(c)(1).


The agencies coordinate interagency programs to supervise third-party service providers through the FFIEC.

There are several requirements and guidelines that financial institutions should be aware of:


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