Compliance Conversations with Regulators

At the most recent meeting of Jones Walker LLP's Bankers Compliance Task Force, guest regulators from both the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve (Fed) provided a bird's-eye view of current compliance issues. First was a reminder that banks partnering with fintechs must comply with all laws and regulations while also being responsible for the compliance of the unregulated fintech partners. Banks must have a strong third-party management program and should not rely solely on any due diligence or other internal controls of the third-party partner. Continue reading >