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Staying on Top of Vendor Management News: Week of June 26

Jun 30, 2017 by Branan Cooper

As we've mentioned before, it's important to stay updated with regulatory news. Learn what's new in vendor risk management this past week. We've put together a list of resources to check out. 

Articles From Week of June 26 to Check Out

A special edition of the CFPB Complaints report, highlighting actual testimonials by customers and a graph map of complaints by state: Read more

Fed chair Yellen sounds very optimistic when asked about financial services stability: Read more

Gruenberg (FDIC Chair) in Senate testimony lauds progress made and suggests financial regulatory relief could work.

Lexology analysis of OCC Bulletin 2017-21 on FAQ’s about third party risk management

  • Nothing different than previously reported but good to get confirming perspective
  • Read more

The downside of scaling back the CFPB consumer complaints database

  • An early hallmark of the CFPB was their stance to highlight and resolve consumer complaints
  • Read more

Watch list screeningInteresting article on the legal perspectives associated with cybersecurity threats: Read more

This is a real area of focus with enhanced due diligence and monitoring requirements

  • Unfortunately, even as databases grow more robust, requires more effort to weed “false positives”
  • Read more

What the regulators expect in a well done contract (courtesy of Bryan Cave (law firm)vendor negotiations through a regulatory lens.

Since the financial crisis, we have seen only a handful of de novo (start up or new) banks, yet we have seen continued industry consolidation, whether through the bank failures of 2010-2012, or more recently, with the pressure on margins, with the acquisition of small to mid size banks.  Certainly, the regulatory environment has been a major contributor as it is such an expense hurdle for small and mid size banks to maintain profitability despite the investment in compliance required.  Here’s just a glimpse of this week in acquisitions:


·        With acquisition, National Bank Holdings digs deep in prized markets

·        Monday's Bank Stocks: Buzz in banks following deals

·        Deal Profile: Colorado's National Bank Holdings to buy Peoples for $143M

·        Deal Profile: Massachusetts' Meridian buying Meetinghouse for $17.8M

·        Co-op Bank abandons sale, says in advanced talks with investors over rescue deal

Treasury seeks public input on regulation reduction

  • Feel free to take advantage of the opportunity to comment on regulations that can be changed or rolled back – now is your chance to let your voice be heard, should you wish!
  • Read more

Regulatory burden forces another community bank to sell line of business: Read more

Chief Compliance Officer and Anti Money Laundering Officer charged with failing to file SARs and other notable lapses – WOW! Strikes me as quite brazen, if the facts are as reported: Read more

McWatters no longer “acting” chair of NCUA but appointed to full term: Read 

22 industry trade commissions send letter advocating for commission, rather than single director, to run the CFPB: Read more

Learn how institutions are handling vendor management, download our State of Vendor Management 2017 whitepaper

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Branan Cooper

Written by Branan Cooper

Branan has nearly 30 years of experience in the financial services industry with a focus on the management of operational and regulatory processes and controls—most notably in the area of third party risk and operational compliance. Branan also serves as an industry thought leader. He's a member of InfraGard and the Professional Risk Management Industry Association (PRMIA). And, he was selected in 2018 as an advisor to the Center for Financial Professionals (CEFPro) and board member for the Global Sourcing Resource Network (GSRN).

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