Legally, each agency of the Federal Financial Institutions Examination Council (FFIEC) – OCC, FDIC, FRB and NCUA – has issued rules requiring financial institutions to tighten their management of third-party vendors critical to their operations. With so much on the line, having a narrow list of vendors can make a significant difference in your business. Consolidating works because it reduces your supply chain management costs. All companies want to work with suppliers that will help lower costs across the board, not just on price but also on freight, service, and credit.