Consumer Financial Protection Bureau Director Richard Cordray today acknowledged that there are many unanswered questions about the security and technology of allowing consumers to provide third parties access to their personal financial data.
Browsing: Third-party risk
The Consumer Financial Protection Bureau is today launching a formal inquiry into obstacles consumers face in accessing and sharing with third parties personal financial records held by banks and other institutions.
The Consumer Financial Protection Bureau today issued an update to its guidance on risk management for third-party service providers.
ABA today responded to proposed guidance by the FDIC addressing safety and soundness and consumer compliance measures institutions should follow when engaging in third party lending.
The OCC today released its bank supervision operating plan for fiscal year 2017, identifying what each of the agency’s supervisory operating units will focus on for the new federal fiscal year starting on Oct. 1.
In remarks at the Association of Military Bankers’ annual workshop today, OCC Senior Deputy Comptroller Grovetta Gardineer stressed the importance of ensuring that all military service members and their families receive the consumer protections they are entitled to under the Servicemembers Civil Relief Act.
The FDIC board today voted to propose amendments to its supervisory guidelines that would expand banks’ rights to appeal exam decisions and improve consistency with other agencies’ appeals processes and issue examination guidance for third-party lending.
Banks continue to make significant strides in the area of third party risk management — though many are concerned about a lack of knowledge and not having the appropriate tools to efficiently assess and manage vendor risk — according to a study published today by Ernst & Young.
The OCC is focusing on credit risk and strategic risk as the top risk priorities in its supervision of community and midsize banks, according to the agency’s Semiannual Risk Perspective report released today.