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Week of January 7, 2019: Staying on Top of Vendor Risk Management News - 1

Jan 11, 2019 by Branan Cooper

An interesting week – CFPB news, UDAAP enforcement action, huge money laundering scandal, and an NCUA update…This week’s edition of the news has something for everyone.

Industry News for the Week of January 7

US Treasury has posted the notice that its Financial Crimes Enforcement Network will not work on regulatory guidance or rulemaking as its workforce of 285 employees is reduced to 130: Read here 

A first in enforcement: Read here

Competing regulators can lead to lax oversight: Read here

CFPB and a dose of molasses!  And lots of third party involvement: Read here

CFPB USAA enforcement action includes UDAAP violations: Read here

OCC asks for dismissal of suit by states over FinTech charter: Read here

These are the leaders who will be setting financial services policy for the next few years: Read here

The FinTech charter takes root: Read here

Fascinating and scary money laundering scheme: Read here 

FinTech’s need to compete on a level playing field: Read here

In with the New: NCUA’s 2019 Supervisory Priorities: Read here

Implications of the Eighth Amendment’s excessive fines: Read here

See what you need to know about UDAAP and your vendors. Download the infographic now to get started.

udaap and your vendors

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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