The need for vendor risk management best practices is at the forefront of the news this week - 60% of industry execs reporting they do not have a comprehensive vendor risk program in place. This could cause some MAJOR issues down the road! Read this story plus more from the CFPB, Merrill Lynch's $42 million fine and rapidly growing RegTech.
Industry News for the Week of June 25
CFPB structure ruled unconstitutional, the second reversal of the decision as it makes its way slowwwwly toward the Supreme Court: Read here
Fascinating stats on the growth of RegTech in terms of investment dollars, skills and geographies: Read here
Further example that the regulators do work with one another – new standards for enhanced communications surrounding enforcement actions among the regulatory agencies: Read here
Article in Philadelphia Inquirer on Alan Kaplinsky of Ballard Spahr: Read here
California's interesting thoughts on proposed OCC charter and sandboxes: Read here
How mobile technology is changing the prepaid world: Read here
Mortgage Bankers Association formally requests the CFPB revisit key rules, particularly those that may be clouded by the practice of “regulation through enforcement action”: Read here
Anonymous companies won’t be able to register in Delaware if this legislation goes through – currently 1.3 million companies are registered in Delaware (more companies than people, population-wise!): Read here
Learn how to write your own vendor risk program - download our infographic.