D.     Bank Service Company as TSP

Responsibility for the examination of bank service companies As defined in 12 U.S.C. 1861(b)(2). is based first on the type/class of entity(s) holding controlling ownership 12 U.S.C. 1861(b)(8). in the servicer. Specifically:
  • If there is one or more controlling owner, primary examination responsibility falls to the Agency(s) supervising the controlling owner(s).
  • Where there is only one controlling owner, or where one controlling owner has claim to materially greater ownership interests relative to the others, the Agency supervising that owner has the discretion to retain primary examination responsibility with regard to any interagency examination work.
  • Where controlling ownership is equally distributed, the primary examination responsibilities are rotated as agreed by the interested Agencies.
In all instances, regardless of the number of controlling owners, the Agencies supervising the serviced financial institutions have an interest in participating on interagency examinations.


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C. Holding Company and Non-Bank Subsidiary of the Holding Company
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E. Independent TSPs, Including Those in the Multi-Regional Data Processing Servicers Program