Technology Service Provider Contracts With Fdic-supervised Institutions

Name: Technology Service Provider Contracts With Fdic-supervised Institutions
Brand: US Legal Forms
Rating: 4.66 (353 reviews)

Category:

Technology - Contracts

State:

Multi-State

Control #:

US-0632BG

Format:

Instant download

Description Internet Provider Agreement

This form is drafted from the perspective of the Internet service provider. It provides stringent terms relating to acceptable use and termination for improper use. The Agreement also clearly addresses the issues of liability and indemnification

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How to fill out Technology Service Provider Contracts With Fdic-supervised Institutions?

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Internet Service Provider Agreement Form Rating

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Internet Service Provider Agreement Pdf Form popularity

Service Agree Account Other Form Names

Service Provider Agree Service Provider Agreement

FAQ

Some banks in the United States are not FDIC insured, but it is very rare. One example is the Bank of North Dakota, which is state-run and insured by the state of North Dakota rather than by any federal agency.

National banks must be members of the Federal Reserve System; however, they are regulated by the Office of the Comptroller of the Currency (OCC). The Federal Reserve supervises and regulates many large banking institutions because it is the federal regulator for bank holding companies (BHCs).

FDIC-supervised institution means any insured depository institution for which the Federal Deposit Insurance Corporation is the appropriate Federal banking agency pursuant to section 3 of the Federal Deposit Insurance Act, 12 U.S.C. 1813(q).

The RightConsumers must be given the right to opt out of, or prevent, a financial institution from disclosing nonpublic personal information about them to a nonaffiliated third party unless an exception to that right applies.

Exception to the Opt-Out Requirement: Service Providers and Joint Marketing. Another exception can be found in section 313.13 ("section 13 exception") of the Privacy Rule.

Interesting Questions

The contract should establish data privacy and security obligations of the technology service provider, including safeguarding customer data, implementing appropriate security measures, conducting regular security audits, and ensuring compliance with applicable data protection regulations such as the Gramm-Leach-Bliley Act (GLBA). It should also include provisions for breach notification and incident response protocols.

More info

In 2012: The Federal Financial Institutions Council (FFIEC) issued a revised Supervision of Technology Service Providers booklet. Office of Inspector GeneralFederal Deposit Insurance.Corporation, Technology Service Provider Contracts with. In February, the Office of the Inspector General released "Technology Service Provider Contracts with FDICSupervised Institutions.

Technology Service Provider Contracts With Fdic-supervised Institutions

Description Internet Provider Agreement

Internet Service Agreement Related forms

How to fill out Technology Service Provider Contracts With Fdic-supervised Institutions?

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Internet Service Provider Agreement Form Rating

Internet Service Provider Agreement Pdf Form popularity

Service Agree Account Other Form Names

FAQ

Are any banks not FDIC insured?

Are all banks regulated by the FDIC?

What is an FDIC supervised institution?

Can financial institutions opt out of FDIC?

What are exceptions to the opt out requirement?

Interesting Questions

What is a technology service provider contract?

What is an FDIC-supervised institution?

Why are technology service provider contracts important for FDIC-supervised institutions?

What are some typical technology services provided in these contracts?

Who should negotiate the terms of the contract?

What factors should be considered when reviewing these contracts?

How should the contract address data privacy and security concerns?

What happens if there is a breach of the contract?

Are there any regulatory requirements specific to technology service provider contracts in FDIC-supervised institutions?

How often should technology service provider contracts be reviewed?

More info

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