Model Risk Management and Its Implications Under the Bank Secrecy Act
By EsqSocial Corporation 22/04/21
On April 9, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the agencies), in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, issued a statement to address industry issues that have arisen on model risk management (the statement). The statement incorporates and comments on the Supervisory Guidance on Model Risk Management...
By: Troutman Pepper