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.
A special edition of the CFPB Complaints report, highlighting actual testimonials by customers and a graph map of complaints by state: 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
The downside of scaling back the CFPB consumer complaints database
Watch list screening interesting article on the legal perspectives associated with cybersecurity threats: 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:
Treasury seeks public input on regulation reduction
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.