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Bank Service Company Act Policy

$75.00

The purpose of this Bank Service Company Act Policy Template is to ensure a bank, credit union, or other type of financial institution adheres to the provisions and intent of the Bank Service Company Act by directives outlined within this policy and subsequent procedures contain herein.

Description

Bank Service Company Act Policy

The purpose of this Bank Service Company Act Policy Template is to ensure a bank, credit union, or other type of financial institution adheres to the provisions and intent of the Bank Service Company Act by directives outlined within this policy and subsequent procedures contain herein.

Table of Contents

  • Purpose and Contents – Topic 1
  • Policy Statement – Topic 2
  • Definitions – Topic 3
  • Amount of Investment in Bank Service Company – Topic 4
  • Permissible Bank Service Company Activities for Depository Institutions – Topic 5
  • Permissible Bank Service Company Activities for Other Persons – Topic 6
  • Prior Approval for Investments in Bank Service Companies – Topic 7
  • Services to Non-Stockholders or Non-Members – Topic 8
  • Regulation and Examination of Bank Service Companies – Topic 9
  • Audit Policy – Topic 10
  • Staff Training – Topic 11
  • Retention of Documentation – Topic 12

Recent updates to this product:
05/01/19 Update
FDIC FIL-19-2019 – Technology Service Provider Contracts

This Bank Service Company Act Policy Template (approximately 6 pages) is available in Microsoft® Word format for $75.00.

NOTE: The complete contents of this product are also included in the Vendor Management Program Policy Template.

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When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.

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