Vendor Management

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Bradley assists both banks and nonbank clients in managing complex and multifaceted relationships with their service providers. This work includes:

  • Reviewing internal vendor-management policies and procedures for regulatory compliance
  • Developing more-robust compliance programs
  • Developing best practices for servicer attorney networks
  • Assisting clients in responding to inquiries and examinations from federal banking regulators
  • Developing operational and security procedures for internal and outsourced functions that comply with applicable federal and state law
  • Drafting, reviewing, and negotiating vendor contracts for financial institutions
  • Addressing problems, including modifying the terms of an agreement, terminating an agreement, or litigation, when appropriate.

Since 2010, our legal team has taken a proactive role with our financial services clients in developing and implementing effective, sustainable, and comprehensive vendor-management programs. With an unparalleled knowledge of the financial services industry, our attorneys have conducted hundreds of internal investigations and participated in hundreds of default firm reviews across the country.

Bradley leverages our familiarity with FDIC and OCC guidance – such as CFPB Bulletin 2012-03, FIL-44-2008, and OCC 2003-29 – to our clients’ advantage. To facilitate efficient management of law firms and trustees, we work collaboratively with external consultants to construct vendor-management programs and state-of-the-art assessment tools.

To empower clients as the first to respond to national trends, Bradley has created internal screening and reporting protocols that identify potential areas for default firm risk. Clients have found these proprietary processes to be so integral that they have formally adopted them in submissions to government regulators.