The FDIC has announced that it will extend the comment period for the proposed guidance on third-party lending until Oct. 27. The proposed guidance covers strategic, operational, credit and compliance risks associated with third-party lending, and it details the basic elements of an effective third-party lending risk management program, including risk assessment, due diligence, contract structuring and oversight. It also covers supervisory considerations for third-party lending arrangements and outlines exam procedures. Comments can be emailed to firstname.lastname@example.org.
Read the proposed guidance.