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Financial Institution Outsourcing: Managing the Risks | Article

Thomas J. Smedinghoff, Partner, and Creighton R. Meland, Jr., Partner, Baker & McKenzie, Chicago, Illinois

In the Bible, Cain insisted he was not responsible for his brother’s actions. That’s not true if you are a financial institution. Banks, savings and loans and credit unions are still responsible for the actions of their service providers. Two attorneys at Baker and McKenzie tell financial institutions how to protect their interests when they outsource.

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