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Summary:
The FDIC is seeking comment on proposed Guidance for Third-Party Lending to set forth safety and soundness and consumer compliance measures FDIC-supervised institutions should follow when lending through a business relationship with a third party. The proposed guidance is intended to supplement the FDIC's existing Guidance for Managing Third-Party Risk, which is applicable to any of an institution's third-party arrangements, including lending through a third party.
Statement of Applicability to Institutions with Total Assets Under $1 Billion:
This Financial Institution Letter applies to all FDIC-supervised institutions that engage in third-party lending.
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