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As follow up to my previous blog on how the avalanche of regulation can stifle innovation in banks and credit unions, I wanted to share some ideas to start the discussion on organizational steps that you can take to enhance the risk and compliance culture. Maturing the processes internally, requires ....

While last week my news feeds on social media showed an avalanche of humorous ice bucket challenges, it sparked a comparison to me of the recent Avalanche of Regulation Infographic published by the American Bankers Association (ABA). The burden of regulatory compliance is dousing the fires of creati ....

Yesterday the OCC released its long awaited Guidance on Third-Party Relationships (OCC 2013-29). Notably, this Guidance, posted below, rescinds OCC Bulletin 2001-47, “Third-Party Relationships: Risk Management Principles,” and OCC Advisory Letter 2000-9, “Third-Party Risk.” The Guidance int ....

With its broad focus on consumer protection, the Consumer Financial Protection Bureau ("CFPB") is holding companies directly responsible for the actions of their service providers. Responding to consumer complaints about unfair and/or deceptive practices the CFPB has handed out over $100M in penalti ....

Why should a Third Party Service Provider (TPSP) care about consumer protection regulatory issues? Because your client cares and your client’s examiner and regulator cares. Examiners and regulators are holding financial institutions accountable for the actions of their TPSPs through enforcemen ....

Santa Fe Group Consultant and Shared Assessments Program Director, Brad Keller, was recently interviewed by John DiMaria, Product Marketing Manager, BSI Management Systems. Brad, along with members from BITS and the Financial Services Roundtable, share their perspective on the recent Executive Order ....