Staying On Top of Vendor Risk Management News: Week of August 27

This week in third party risk related news: Chase Bank hit with downgrade as a result of improper third party risk management, cybersecurity remains a topic of focus, working with fintech companies, an extended exam cycle for these types of banks and more. 

Industry News for the Week of August 27

Cybersecurity horror stories – if you think the Target breach being facilitated by compromising an HVAC contractor’s credentials is bad, read this.

Fintech charter requirements present many barriers to entry: Read here

Chase Bank downgrade in part due to gaps in its outsourced technology infrastructure (i.e., third parties!): Read here

BankDirector survey focuses on technology and cybersecurity: Read here

Add-on products, like identity theft protection, have long been an enforcement target for the regulators – Santander just exiting an enforcement action that stretches back almost a decade: Read here

Major SEC enforcement action against Transamerica: Read here

The delicate balance of banks working with fintech companies: Read here and here

OCC announces extended exam cycle: Read here 

Community lenders tell big tech vendors to get up to speed: Read here

Cybersecurity continues to remain a threat to businesses and their vendors. What measures do you and your third parties have in place to combat these types of risks? Download our infographic to learn what it takes.