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Staying On Top of Vendor Risk Management News: Week of August 13

Aug 17, 2018 by Branan Cooper

New enforcement actions and continued analysis of the CFPB changes and the fintech charter dominate this week’s headlines - read these stories and more below for this week's third party risk related news. 

Industry News for the Week of August 13

CFPB to collaborate with foreign regulators: Read here

Which regulator gets to run the fintechs? Read here

State regulators aim to step in on the reg of fintechs: Read here

CitiFinancial fined $8.6 million for past mortgage servicing practices: Read here

Article on cyber insurance and things to consider: Read here

Further legal analysis on the OCC fintech charter – comes with some fairly big hurdles: Read here

One of the upsides of GDPR – less consumer concerns: Read here

The most “Googled” financial questions, by state: Read here

The CFPB – a timeline and a path forward: Read here

Payments innovation and payments fraud highlight this new study: Read here

Don’t get trapped in long term fintech contracts! Read here

NAFCU focuses on supervisory highlights and UDAP, in particular: Read here

SEC enforcement action for failing to safeguard investor assets (with some ancillary third party issues) costs Ameriprise over $4 million: Read here

As you've read, vendors are under increasing pressure to demonstrate to you the effectiveness of their cybersecurity risk management programs. Are your vendors meeting expectations? A SOC for cybersecurity can help manage and mitigate associated risks.  Download the infographic now.

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Branan Cooper

Written by Branan Cooper

Branan Cooper is the Chief Risk Officer at Venminder. 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 leads the Venminder delivery team as the third party risk management subject matter expert in residence. 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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