This week in the world of vendor management was all about the changes in the regulators’ leadership and the ongoing power struggle at the CFPB, with a side order of data breach and proposed regulatory reform...just to keep things interesting.
This year still isn’t slowing down – three days before Christmas there will be an administrative hearing on who gets to run the CFPB. For more details on the latest news, read the selected articles below.
Articles From Week of December 4 to Check Out
PayPal’s newly acquired TIO Networks suffers data breach – impact of 1.6 million users:Read here
Senate proposes jailing execs who conceal data breaches (no doubt in response to the Equifax breach, which was kept under wraps for 2 months): Read here
What happens at the CFPB, in terms of current and pending actions, while the leadership situation is being litigated?: Read here
Fed says regulators need to focus on cybersecurity with financial institutions: Read here
“Meet the new crop of bank regulators”: Read here
Kaplinski weighs in on CFPB halt to enforcement actions: Read here
With the exception of extension of the 18 month exam cycle rule to include banks up to $3B (from $1B previously), there’s not much here that offers relief in terms of vendor management: Read here
A real “Catch 22” – encouraged to share info but if something goes awry, bankers will be the ones held accountable: Read here
90% of banks concerned by data management issues: Read here
Understanding RegTech – a whitepaper from American Bankers Association: Read here
New OCC head – on-site examiners are here to stay: Read here