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Best Practices

Staying On Top of Vendor Management News: Week of October 23

Oct 27, 2017 by Branan Cooper

Fortunately, there hasn't been anything too crazy happening in the world of third party risk this past week. There are still some good articles to read though to keep you updated! Check them out below!

Articles From Week of October 23 to Check Out

Acting OCC head speaks on FinTech charter opportunities at Georgetown Univ: Read here

Law firm resists CFPB by saying they are unconstitutional: Read here

New OCC guidance on enterprise risk management also mentions third party risk management: Read here

Legal analysis on the new FinTech advisory panel: Read here

Regulation by enforcement action is so impossibly difficult: Read here

Ballard Spahr on the Pennsylvania oversight of FinTech companies: Read here

CFPB releases highlights of credit card supervisory issues – lots of UDAAP concerns:Read here

FFIEC IT Examination handbook on information security guide: Read here

8 de novo deposit insurance apps approved in past year. More than 2010 to 2016 combined – a key step in launching a new bank: Read here

Bureau's Arbitration Rule overturned in Senate vote

Politico and other news outlets report that the Senate, with Vice President Pence voting to break a tie, voted to kill the CFPB's Arbitration Rule. The 
House of Representatives had passed a similar resolution in July under the Congressional Review Act to reject the Bureau's regulations. The resolution next goes to the White House for presidential approval, which is expected. The administration signaled its stance on the controversial regulations in a report issued Monday by the Treasury Department. When a regulation is overturned under the Congressional Review Act, it cannot go into effect and government agencies cannot issue any similar rule in the future, unless specifically authorized by subsequent legislation

You're doing great by keeping up in the news. Here are 14 other third party risk management best practices - download the infographic

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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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