FDIC cautions banks about online-lender relationships

09/29/2013 | AmericanBanker.com (free registration)

The Federal Deposit Insurance Corp. says that banks "operating with the appropriate systems and controls" in their relationships with online lenders aren't targets of regulatory action and "will not be criticized." However, the agency cautions banks in a letter to make sure they are managing "higher-risk activities" and "that they are not facilitating fraudulent or other illegal activity."

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