Our Practice

Third-Party Vendor Relationships

Banks increasingly are retaining third-party vendors to perform a number of functions that banks previously performed themselves. There are a number of reasons for this development, including the expansion of a cottage industry of third party vendors who can, in some instances, perform a higher quality service at a lower cost.

Services provided by third-party vendors include data processing, loan review, internal and external audit, website and internet services, and mortgage banking, insurance, and broker-dealer activities. We have represented many banks in their effort to find and establish a relationship with companies providing these and other services.