REQUEST A DEMO
venminder_eBook_resources_Mini_Vendor_Management_Handbook
New Call-to-action
New Call-to-action
Post-Hero.jpg

Venminder Blog

Subscribe--Bg.jpg

Subscribe to the Venminder Blog

Venminder Blog

Dec 31, 1969 by

Regulatory Reform – What Does It Mean for Third Party Risk Management?

Aug 8, 2018

A great deal of news recently has followed the various congressional initiatives to “roll back” portions of the Dodd-Frank Act. In the latter portion of the second quarter, a bill passed and was [...]

Read More

Regulations

A Walk Through the OCC Vendor Lifecycle

Jun 27, 2018

The OCC’s guidance published in Bulletin 2013-29 set the gold standard for third party relationships. It takes a logical risk-based approach with the goal of protecting your institution from [...]

Read More

Regulations

Vendor Risk Management and the OCC

Jun 26, 2018

As vendor risk management, also known as third party risk management or just vendor management, has become more important, there has been more regulatory guidance from all the major regulators [...]

Read More

Regulations

Vendor Risk Management and the SEC

Jun 26, 2018

Vendor risk management, also known as vendor management and third party risk management, has become much more important in recent years. Regulators, such as the SEC, have released more and more [...]

Read More

Regulations

Vendor Risk Management and the CFPB

Jun 26, 2018

The Consumer Financial Protection Bureau (CFPB) has broad regulatory authority of the financial services industry and reminded everyone of the fact that they also could exercise direct supervisory [...]

Read More

Regulations

Vendor Risk Management and the NCUA

Jun 25, 2018

Vendor risk management or, more specifically, third party risk management has received a great deal of attention over the past decade by all of the major regulators, the NCUA included. We’ve seen [...]

Read More

Regulations

Vendor Risk Management and The Fed

Jun 25, 2018

Vendor risk management or, more specifically, third party risk management has received a great deal of attention over the past decade by all of the major regulators. We have seen a groundswell of [...]

Read More

Regulations

Legal Insight: Colorado Enacts Groundbreaking Privacy and Cybersecurity Legislation

Jun 4, 2018
Read More

Regulations

Non-Bank Lending Is Changing But Vendor Management Principles Are Consistent

May 29, 2018

Fintech adoption will vary but the need to either staff a vendor risk management team with tech savvy expertise or engage the technical lines of business is important, as there is an increase in [...]

Read More

Regulations

Top Vendor Management Challenges and How to Overcome Them

May 23, 2018

Earlier this year, Venminder released our annual State of Third Party Risk Managementsurvey results. Venminder distributed the survey in mid-November and collected responses through early December [...]

Read More

Regulations

Data Breaches, State Notification Requirements and Third Parties

May 2, 2018

Data breaches are not a new phenomenon impacting consumers, but based on the increased frequency reported in the media, the volume of reported breach incidents is likely to increase. The risks of [...]

Read More

Regulations

GDPR and Vendor Risk Management

May 1, 2018

The General Data Protection Regulation, or GDPR as it is widely referred as, is taking the compliance world by storm. And not in a good way. The law itself is voluminous with 11 Chapters and 99 [...]

Read More

Regulations

Fourth Party Oversight and How to Organize the Effort

Apr 25, 2018

Institutions have a lot to consider when assessing third party risk, but if vendor risk management hasn’t followed the process of understanding the inner workings of their third party vendors, [...]

Read More

Regulations

GDPR: Understanding the Impact on Third Party Risk - Part 2

Apr 24, 2018

Last week we released important information about understanding the impact GDPR has on third party risk. I have even more to tell. In this part 2 we’ll look a little deeper into chapters 2-4 and, [...]

Read More

Regulations

GDPR: Understanding the Impact on Third Party Risk - Part 1

Apr 17, 2018

A simple Google search on GDPR requirements and GDPR checklists will result in lots of information and free resources. The sheer amount of information available is dizzying to say the least and [...]

Read More

Regulations

 7 Practical Steps to Tackle GDPR Compliance Via Vendor Management

Apr 10, 2018

The EU (European Union) General Data Protection Regulation (GDPR) is considered timely in the sense that all e-commerce is officially in the sights of cyber criminals. Not a day goes by without a [...]

Read More

Regulations

Fintech, State Regulators and The OCC Fintech Charter

Apr 3, 2018

The term fintech is a broad definition, and I’ve heard that some firms offering software to process a data point for a financial institution, also define themselves as "fintech". In some of these [...]

Read More

Regulations

Facebook, General Data Security Protection (GDPR) and the Case for Stronger Data Protection

Mar 27, 2018

Cambridge Analytica data mined over 50 million subscribed Facebook user's private information. As more details emerge over the questionable activities performed, the fall out continues. 

While we [...]

Read More

Regulations

Momentum Behind Third Party Risk Oversight & Fintech

Mar 20, 2018

There is a good chance that you are reading this article on a tablet or smart phone. Perhaps, you're reading it even while traveling or waiting for your next meeting.

The fact is that we live, [...]

Read More

Regulations

Beneficial Ownership & Panama Papers Link to Third Party Risk

Mar 13, 2018

The heading of this piece may sound like it was ripped from the pages of the latest James Bond adventure. But with recent data breaches, shell companies, pending new regulations on data privacy [...]

Read More

Regulations

GDPR and The Third Party Risk Management Implications

Mar 6, 2018

Effective May 25, 2018, the General Data Privacy Regulation (GDPR), a European Union (EU) regulation which formally became law in 2016, will bolster data privacy rights for European citizens.

The [...]

Read More

Regulations

Legal Insight: SEC Continues to List Cybersecurity Among OCIE Examination Priorities

Mar 5, 2018

The SEC Office of Compliance Inspections and Examinations (OCIE) has announced its 2018 examination priorities. Unsurprisingly, cybersecurity remains among the key priorities. OCIE has included [...]

Read More

Regulations

OCC Released 2018 exam priorities: NR 2017-113

Oct 18, 2017

On September 28, 2017, the Office of the Comptroller of the Currency (OCC) released BankFiscal Year 2018 Bank Supervision Operating Plan, aka, NR 2017-113. Thanks for the acronym fun… but what [...]

Read More

Regulations

CFPB Consumer Complaint Database: Performance & Customer Service

Jul 4, 2017

The mortgage industry has a curious relationship with the CFPB. While there are a few bad actors who fall foul of the CFPB enforcement actions...as an industry, we are striving to make mortgage [...]

Read More

Regulations

Legal Insight: CFPB Announces Consent Order for Mortgage Servicing Violations

Jun 22, 2017

The CFPB recently announced that it has entered into a consent order with Fay Servicing, LLC (“Fay”) to settle alleged mortgage servicing violations.  A copy of the consent order can be found here

Read More

Regulations

Legal Insight: Kerfuffle on statute of limitations issue in PHH case

Jun 21, 2017

On June 7, the CFPB submitted a Rule 28(j) letter to the D.C. Circuit in the PHH case. In the letter, the CFPB embraced the fact that the Supreme Court’s recent Kokesh v. SEC decision makes the [...]

Read More

Regulations

Legal Insight: Treasury report on U.S. financial system recommends significant CFPB reforms

Jun 16, 2017

The report issued earlier this week by the U.S. Treasury Department to President Trump in response to his February 2017 Executive Order 13772, “A Financial System That CreatesEconomic [...]

Read More

Regulations

Legal Insight: ABA identifies various industry concerns in fair lending white paper submitted to Treasury Secretary

Jun 15, 2017

We previously reported on the Executive Order 13772 titled “Core Principles for Regulating the United States Financial System,” which is a high-level policy statement consisting of a series of [...]

Read More

Regulations

5 Key Takeaways from OCC Bulletin 2017-21

Jun 13, 2017

Extra extra! Read all about it! Last week, the Office of the Comptroller of the Currency issued Bulletin 2017-21 –Frequently Asked Questions to Supplement OCC Bulletin 2013-29.

We thought it might [...]

Read More

Regulations

Legal Insight: New OCC FAQs on third-party relationships highlight bank arrangements with fintech companies & marketplace lenders

Jun 12, 2017

The Office of the Comptroller of the Currency has issued a new bulletin (2017-21) containing fourteen frequently asked questions to supplement OCC Bulletin 2013-29 entitled “Third-Party [...]

Read More

Regulations

Legal Insight: FI Agencies Provide Guidance During Appraiser Shortage

Jun 9, 2017

The federal banking agencies together with the National Credit Union Administration (the “Agencies”) issued an Interagency Advisory on the Availability of Appraisers that is intended to help [...]

Read More

Regulations

Raising the Bar In Third Party Risk : CFPB Formally Enters Technology Vendor Oversight

Jun 6, 2017

In the CFPB May release (Issue 15), the Consumer Financial Protection Bureau referenced updated guidance on third party oversight initiatives. We'll go through what it says, what it means and next [...]

Read More

Regulations

What Mortgage Lenders Need to Know About Fannie Mae Day 1 Certainty for Vendor Management

May 23, 2017

Earlier this year, Fannie Mae released their long-awaited Day 1 Certainty program. For the mortgage lender,this represented a glimmer of hope to be released from certain future reps and warranty [...]

Read More

Regulations

How to Learn From a Vendor Management Enforcement Action

Apr 26, 2017

Enforcement action – for anyone involved in risk management, that term can give you an upset stomach. Why? An enforcement action typically means large problems and potentially hefty fines. They [...]

Read More

Regulations

UDAAP Enforcement Actions

Apr 12, 2017

One of the real regulatory hot buttons over the past few years is around UDAAP – Unfair, Deceptive, or Abusive Acts, or Practices. There have been numerous UDAAP violations with some pretty [...]

Read More

Regulations

CFPB Has Expanded Its Vendor Management Reach

Apr 11, 2017

CFPB exams for the non-bank lender have matured in recent years. The scope of the examination process has expanded to include a much more thorough review of vendor oversight.

Read More

Regulations

The OCC Isn’t My Regulator - BUT They Still Matter to You

Apr 5, 2017

The OCC came out with new guidance on January 24, 2017 - they published the supplemental examination guide for third party risk management, titled OCC Bulletin 2017-7. So, if you’re at a credit [...]

Read More

Regulations

Actions Required to Comply with OCC Bulletin 2017-7

Feb 8, 2017

On Tuesday, January 24, 2017, the Office of the Comptroller of the Currency issued new regulation - Bulletin 2017-7. It's supplemental guidance on the approach examiners must take when reviewing [...]

Read More

Regulations

Vendor Management 2017 - What's In Store?

Dec 28, 2016

I anticipate that there will be quite a few changes looming in the new year - 2017. Some examples include change of Dodd-Frank, increased pro-bank feel, change of examination cycle and [...]

Read More

Regulations

Vendor Management 2016 Review

Dec 21, 2016

2016 – the year of third party risk and cybersecurity. As 2016 winds down, we should look back and think about what we’ve seen this year. There have been many extraordinary events in the world of [...]

Read More

Regulations

In Vendor Management, What's a MRA?

Dec 14, 2016

I was recently asked what a MRA is and what it really means. Well, if you’re a compliance officer at a financial institution, that acronym is enough to send a shiver down your spine.

Read More

Regulations

Mic Cue FDIC: Matters Requiring Board (and your) Attention

Sep 14, 2016

On Aug 22, 2016, the FDIC released the Summer edition of its Supervisory Insights Journal. Okay, officially, it was FDIC Financial Institution Letter 57-2016, but that’s too much of a mouthful, so [...]

Read More

Regulations

7 Ways to Stay in Tune with Vendor Management Best Practices

Sep 7, 2016

Unfortunately, there’s no magical solution to getting your staff up to speed and keeping them there. There’s no handbook or vendor management Bible, and even the best guidance only gets somewhat [...]

Read More

Regulations

Prince ...and what it means to keep your vendor management practices up with the times

May 11, 2016

Since Prince’s passing, the lyrics to his song “1999” kept coming to mind, which then triggered me to think about how vendor management has changed from then to now.

Read More

Regulations

Written by

Follow