Regulators will expect banks to be better prepared for the next crisis event, and they have offered guidance on how you should prepare.
Browsing: Third-party risk
The OCC today clarified its expectations for banks’ management of relationships with third-party providers, including fintech firms, cloud services providers and data aggregators.
In a speech at the Federal Reserve Bank of Atlanta today, Federal Reserve Governor Michelle Bowman discussed how the Fed can help boost transparency and provide more clarity to community banks about relationships with vendors and third-party service providers.
As part of its efforts to facilitate community bank innovation, the Federal Reserve may provide banks with information about core processors and other critical third-party vendors that the banking agencies supervise directly, Fed Governor Michelle Bowman said today at ABA’s Conference for Community Bankers in Orlando, Florida.
Shifting bank technology functions to the cloud has many benefits for banks—but managing the risks requires a different framework.
The Treasury’s Office of Financial Research flagged corporate credit, market, macroeconomic and cyber risk as elevated concerns in its annual financial stability report today.
Following a drop in a year that saw passage of a major regulatory reform law, U.S. financial institutions’ anxiety levels over compliance obligations rebounded in 2019, according to a survey released today by Wolters Kluwer.
What options do banks have as they prepare to upgrade to Windows 10?
According to a recent survey of community bankers, cybersecurity was the highest-rated risk concern, with over 96% of community bank CEOs reporting that they considered it an important or very important risk factor for their bank.