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Staying On Top of Vendor Management News: Week of October 16

Oct 20, 2017 by Branan Cooper

Third party risk news for the week of October 16 that you need to know:

  • Oversight on FinTech companies is tightening up
  • Are you a smaller bank? You might be experiencing higher regulatory costs soon
  • OCC arbitration rule for community banks has caused some friction with other regulators
  • Failing to give your board training on ethics and compliance results uneccessary risks
  • The CFPB has laid out goals for the next five years in their new strategic plan

And more. Read the resources below for your complete update.

Articles From Week of October 16 to Check Out

Fed president says regulators have been too lax in their oversight of FinTech companies:Read here

Helping create a standardized approach to risk assessments is key for proper vendor management: Read here

Higher regulatory costs among major factors worrying smaller banks: Read here

Terrific article on third party risk management across industries: Read here

CFPB fires back at OCC's criticism of arbitration rule: Read here

CFPB report on student loan complaints includes several mentions of third party collections efforts: Read here

Organizations that fail to give training to their board on ethics and compliance issues can expose themselves to unnecessary risks: Read here

State banking agencies establish a FinTech advisory panel: Read here

JP Morgan buys up a FinTech company: Read here

The opening line says it all – regulators rarely duke it out publicly: Read here

CFPB’s draft 5 year strategic plan: Read here

Fed focus on payment security: Read here

For information on what expectations regulators will have in 2018, download our infographic.Regulatory Developments Impact Your Next Vendor Management Exam eBook

Branan Cooper

Written by Branan Cooper

Branan Cooper is the Chief Risk Officer at Venminder. 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 leads the Venminder delivery team as the third party risk management subject matter expert in residence. 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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