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Staying On Top of Vendor Management News: Week of October 9

Oct 13, 2017 by Branan Cooper

Learn what's new in vendor risk management from the week of October 9 - there have been some real eye openers. We've put together a list of resources that cover a variety of important topics, including:

  • FDIC dishes out details on 50 breaches of FDIC information in the past several years
  • The long awaited CFPB payday lending rule is out - 1,700 pages of light reading boiled into some straightforward analysis
  • An interview giving details on the proposed OCC FinTech charter
  • A stark reminder that a board and senior management can be held culpable
  • Pennsylvania is the latest state regulatory agency to really step up its enforcement game 

Articles From Week of October 9 to Check Out

OCC acting director on the prospects for regulatory reform – expresses concern over certain areas of risk including Operational Risk / third party risk: Read more

CFPB opines on payday lending in a very long awaited rule; on the other: Read more here and here

(Further to the link above – yes, that’s 1,700 pages of a new rule that will likely never take effect): Read more

FDIC breached more than 50 times in 2015 and 2016 – update on a previously reported story: Read more

I once heard “the audit finish line is always a moving target” – this article shines light on that: Read more

37 minute interview with OCC director on the proposed FinTech charter: Read more

Good reminder of new regulations looming: Read more

CFPB oversight of credit reporting agencies? Read more

Yes, the board and execs can be sued – judge confirms it: Read more

A harbinger of things to come – banking association protests Square’s lending charter (in context of OCC proposed FinTech charter, a sign that the traditional banking community will be opposed): Read more

Pennsylvania becomes more aggressive at the state level in enforcement of consumer protection: Read more

From several months ago, I just discovered this article on the value of an internal audit – definitely worth reading and understanding: Read more

To learn how to prepare your vendor management program for an internal audit, download our free 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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