Product Updates October 2026

The Product Updates for October 2026 from BankPolicies.com feature the following revised policy template product:

Vendor Management Program Policy Template

The update to this product is in response to the “Joint Statement on Community Banks’ Engagement with Core Service Providers” dated 09/11/26 that provides clarity on their risk-based supervision of certain services provided to community banking organizations (CBOs).

The agencies believe there is a need for additional clarification regarding a subset of CBOs’ third-party relationships, based on the agencies’ supervision of CBOs and their service providers, and reinforced by the agencies’ outreach to CBOs and other relevant stakeholders.  This subset consists of third-parties that provide the critical systems applications and infrastructure that support the operation and essential functions of one or more of a CBO’s lines of business, including, for example, through the provision of transaction processing, account management, payments processing, customer relationship management, compliance and reporting, online banking, and other material functions.  For purposes of this statement, the agencies refer to these entities broadly as core providers.  These relationships are essential to the safe and sound operations of CBOs, yet certain core provider business practices and market dynamics may pose obstacles to a CBO’s ability to efficiently and effectively identify, assess, and address the attendant risks.

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