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
Regulation falls on state AG’s as CFPB focuses on consumer education: 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
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.