The week of Jan 29 saw some really amazing headlines. The CFPB seeks public input on its processes and enforcement actions, new debt collection rules with third party implications and now they have to stop creating regulations through enforcement actions.
Also in third party risk news this week - Europe's new extensive CPI rules, predictions and key dates for 2018 and more. Read below for these resources.
Industry News for the Week of Jan 29
When will regulation technology (regtech) pay off for banks? Read here
Likely the most eventful week in CFPB’s short history – changes in direction, questionable dropping of an enforcement action, change in tone, challenge at the top: Read here
Mulvaney (new CFPB interim director) says new debt collection rules may be coming and those undoubtedly will have third party implications: Read here
Ballard Spahr’s Consumer Financial Services Group honored as Law360 “Practice Group of the Year”: Read here
A nice recap of the unchartered waters for the CFPB: Read here
Europe's new data rules go much deeper than Payment Card Industry (PCI) — and many U.S. companies must comply: Read here
CFPB list of all consumer reporting agencies: Read here
With it being so difficult to start a bank, Moven takes the alternate route – as Green Dot did – by buying a bank. Note the commentary about the regulatory requirements in the article: Read here
The never ending saga of CFPB director-ship passes another court challenge: Read here
Translation – it’s going to be quite a while til we see anything that provides meaningful third party risk management relief: Read here
CFPB also got told to stop creating guidance through enforcement actions: Read here
Nearly 80% of community bank execs say that change is necessary in order to compete effectively: Read here
MRA’s – a deeper analysis that extends to your board: Read here
Compliance risks – cybersecurity, regulatory risk and third party risk make up 3 of the top 5: Read here
CFPB seeks public input on its processes – next week, they will seek input on enforcement actions: Read here
Overall, you can't have a good vendor management program without the 6 pillars. Download our infographic to learn more.