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Staying On Top of Vendor Management News: Week of Feb 5

Feb 9, 2018 by Branan Cooper

What's new in third party risk management this week? Read below to find out the progression of the OCC's proposed Fintech charter, what Mulvaney is doing regarding the CFPB, a possible OCC and CFPB collaboration, Janet Yellen's good-bye present to Wells Fargo on her last day as chair of the Federal Reserve and more.

Industry News for the Week of Feb 5

Outstanding analysis of the proposed Fintech charter and the challenges to it: Read here

Nothing earth-shattering here but a good reminder of compliance requirements nowadays:Read here

Yellen’s final act as Fed chair – Federal Reserve hands out stinging enforcement action to Wells Fargo, which (1) limits future growth, and (2) replaces four board members. Read here

Mulvaney reduces the supervisory authority of the CFPB: Read here

Pyrrhic victory for the CFPB in court case – ruled Constitutional but cited for $100 MM error: Read here

No surprise here – regulators feel FinTech should have to follow banking regulations:Read here

CFPB slows enforcement actions, including Equifax: Read here

States step in to assert regulatory authority over Fintech’s and MSB’s: Read here

JD Supra and Ballard Spahr on CFPB’s freeze on Equifax: Read here

OCC and CFPB collaboration? Read here

Curious to know how companies in the financial services industry are handling third party risk management? Download our whitepaper to find out.

 vendor management white paper

Branan Cooper

Written by Branan Cooper

Branan Cooper is the Chief Risk Officer at Venminder. Branan has more than 25 years of experience in the financial services industry with a focus on the management of internal 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 joined Venminder from the Bancorp Bank where he held the position of Senior Vice President and Director of Third Party Risk Management. He was instrumental in creating their Third Party Risk Management Program and implementing numerous enterprise-wide initiatives. Branan has held similar positions with PartnersFirst, the credit card division of Western Alliance Bancorp, and at MBNA America, as an Executive Vice President working as part of the risk management/ compliance integration team as the company was acquired by Bank of America. Branan is frequently featured as a speaker at industry events, addressing topics on operational and compliance aspects of third party risk. Branan received his undergraduate degree from Duke University, and he completed the Graduate School of Retail Bank Management (CBA) and the Graduate School of Compliance Management (ABA).

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