A New Ice Bucket Challenge for FIs

A New Ice Bucket Challenge for FIs

August 26, 2014 | Compliance, Dodd-Frank, Regulations, Regulatory Compliance

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 ....

OCC Releases Guidance on Third Party Relationships (OCC 2013-29)

October 31, 2013 | Regulations, Regulatory Compliance, Third Party Risk, Vendor Oversight, Vendor Security

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 ....

CFPB Ups the Ante on Third Party Risk Management

August 26, 2013 | Regulations, Third Party Risk

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 ....

Consumer Protection and 3rd Parties

August 19, 2013 | Regulations, Third Party Risk

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 ....

Information Security in the Financial Industry. More Regulation or Better Regulation

July 29, 2013 | Information Security, Regulations

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 ....

The Consumer Financial Protection Bureau (CFPB) – New Releases on “Unfair” Debt Collection Practices

July 22, 2013 | Regulations

On July 12, 2013, the Consumer Financial Protection Bureau (CFPB) updated its definitions regarding what constitutes an "unfair" practice by a debt collector under the Fair Debt Collection Practices Act (FDCPA). ((Consumer Financial Protection Bureau (CFPB), Fair Debt Collections Practices Act. htt ....

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