News & Analysis as of

Vendors Financial Institutions

Integreon

DORA Compliance Part 2: Addressing Compliance Across Critical Operational Areas

Integreon on

Introduction to DORA and its Implications - As of Jan.17, 2025, the European Union’s Digital Operational Resilience Act (DORA) became enforceable. This new regulatory framework significantly impacts financial institutions and...more

Integreon

DORA Compliance Part 1: Proactively Meeting DORA Supply Chain Resilience Obligations

Integreon on

Introduction to DORA and its Implications - As of Jan.17, 2025, the European Union’s Digital Operational Resilience Act (DORA) became enforceable. This new regulatory framework significantly impacts financial institutions and...more

Sheppard Mullin Richter & Hampton LLP

FDIC, FRB & OCC Issue Final Guidance on Risk Management for Third-Party Relationships

On June 6, the FDIC, FRB & OCC issued final interagency guidance intended to assist their respective supervised banking organizations in identifying and managing risks associated with third-party relationships and in...more

McGlinchey Stafford

Are Financial Institutions’ Consultants and Vendors Compromising Their Privileges?

McGlinchey Stafford on

A recent decision from the United States District Court for the Eastern District of Texas should trigger alarm bells for financial institutions’ in-house counsel. The court held that the bank involved had waived any privilege...more

Sheppard Mullin Richter & Hampton LLP

CFPB Updates Supervision and Examination Manual, Adds IT Examination

The CFPB updated its Supervision and Examination Manual by adding a new section titled Compliance Management Review – Information Technology. The new examination procedures are meant to assist CFPB examiners when assessing...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Mintz - Privacy & Cybersecurity Viewpoints

Vendor Management Fail: FTC Settles with Mortgage Analytics Company following Vendor Security Issues

An oft-used business management concept is to “hire people smarter than you.” The concept also applies to hiring vendors – hire vendors that are better than you (especially when it comes to information security). ...more

Bradley Arant Boult Cummings LLP

FTC Eyes Vendor Oversight in Safeguards Rule Settlement

On December 15, 2020, the FTC announced a proposed settlement with Ascension Data & Analytics, LLC, a mortgage industry analytics company, related to alleged violations of the Gramm-Leach-Bliley Act’s (GLBA) Safeguards Rule....more

Jackson Lewis P.C.

FTC Settles Claims Financial Institution Failed To Oversee Its Vendor’s Data Security Practices

Jackson Lewis P.C. on

Assessing the privacy and cybersecurity practices of third-party service providers is critical not only for employee personal information, but also for confidential and personal information pertaining to an organization’s...more

Mitratech Holdings, Inc

UK Finance Webinar Recap: Operational Resilience – Lessons Learnt from the Crisis

The Pandemic Crisis has offered the financial services sector a live stress test environment to assess its planning, systems, and processes for Operational Resilience. To explore this and see how institutions have fared so...more

Mitratech Holdings, Inc

Moving Center Stage – Vendor Risk Management & COVID-19

Mitratech Holdings, Inc on

Vendor Risk Management (VRM) featured heavily at the recent Mitratech Interact 2020 online conference.  That’s not surprising, considering the rising concerns about the risks posed by vendor and supplier networks – and how...more

Mitratech Holdings, Inc

Why Is Vendor Management Software So Crucial For Financial Institutions?

Vendor management is a complex task, yet a necessary undertaking for any organization dealing with third parties.  ...more

Mitratech Holdings, Inc

What is Concentration Risk and How to Reduce It?

Concentration risk is accepted, within multiple industries, as the probability of loss due to a large dependence on a single vendor, geographic area, or investment portfolio. ...more

Ervin Cohen & Jessup LLP

Coronavirus Advice for Creditors

During this unprecedented time of uncertainty, landlords, financial institutions, vendors, suppliers, and other creditors will undoubtedly be affected. Due to the closure of most businesses which are considered non-essential,...more

Thomas Fox - Compliance Evangelist

Doing Business with Wells Fargo – Watch Your Wallet

You really do have to appreciate Wells Fargo & Co. Perhaps solely of the most recent spate of US corporate ethics scandals, it is the company that keeps giving and giving and giving. On the other hand, it may simply be that...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd. a...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd. a...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - January 2018

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd....more

The Volkov Law Group

Addressing AML Risks in Your Third-Party and Vendor/Supplier Relationships (Part II of III)

The Volkov Law Group on

Global companies should incorporate AML risks into their risk analysis of their third-party distributors, agents and other intermediaries. The basic questionnaire, due diligence risk analysis, contractual provisions,...more

Smith Debnam Narron Drake Saintsing & Myers,...

Bad System Conversion Leads to CFPB Consent Order for Prepaid Card Provider and its Vendor

The CFPB continues to flex its muscle and expand its reach, this time punishing a prepaid card provider and its vendor for a conversion to a new system that did not go as planned. The consent order, which was entered into...more

Patterson Belknap Webb & Tyler LLP

Law Firms and Vendors Mandated to Up Their Cyber Game: Final Installment in a 3-Part Series

This is our final installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation.  In this installment, we provide an overview of the regulation’s impact...more

Stinson LLP

Emerging Trends Newsletter - Q3

Stinson LLP on

We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

Stinson - Corporate & Securities Law Blog

The New York State Department of Financial Services Proposes Robust Cybersecurity Rules

On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic...more

Bradley Arant Boult Cummings LLP

10 Questions to Ask your Law Firm Vendor Management Program (Part 2)

We previously provided you five questions to determine whether your law firm vendor management program is sufficiently comprehensive. Given the attention drawn to such programs by regulators such as Office of Comptroller of...more

Troutman Pepper Locke

Top 10 Financial Institution Considerations for 2016: #6 – Vendor Risk Management

Troutman Pepper Locke on

In our initial article announcing our top 10 considerations for financial institutions in 2016, our sixth consideration was vendor risk management in 2016. Third party (vendor) risk management has consistently been among the...more

28 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide