Answer:
The only way to disclose those relationships is to say "we regularly use this provider." Of course, if there is an affiliate relationship, that must be disclosed as well.
First published on BankersOnline.com 6/05/06
Disclosing Relationships with Bank's Providers
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Question:
Required Provider List - Our auditors have written us up for not providing the nature of our relationship with some of our providers. These providers include credit bureaus, flood tracking and appraisers (we use infrequently). How should we disclose these types of relationships?
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