When Natural Disasters Become Customer Relationship Disasters
Customers don’t want to hear that a data center across the country flooded, a cyberattack overwhelmed systems or a piece of equipment failed. In their eyes
Why You Need to Focus on Cybersecurity Risk Now
Rather than lump cyber risk in with other categories, it’s important for banks and credit unions to directly address this risk with their critical vendor
What is Concentration Risk - And What Does My Regulator Have to Say About It?
When most bankers and credit union executives think of concentration risk, they think of lending—but concentration risk has a different meaning whentalking
Compliance Risk - Avoid Vendor Compliance Failures by Properly Assessing Risk
Compliance risk is one of the 10 biggest vendor risks facing FIs—and the reason why FIs need to know the whats, hows and whens of its vendors’
Country Risk - Why It Pays to Choose Domestic Service Providers
Think it’s tricky to keep track of the rules and regulations U.S. regulatory agencies? Imagine following operational requirements of foreign countries.
Planning to Fail or Failing to Plan - Strategic Risk
Strategic risk is the possibility that a company doesn’t make decisions that support its long-term goals. Learn how to avoid these costly decisions.
Are These Top 3 Compliance Priorities for 2017 on Your List?
2016 is coming to a close, and 2017 preparations are in full swing. Read this blog to learn 3 top compliance priorities for next year. Are they on your lis…
Assess Vendor Reputation Risk - Before You Have to Rebuild Yours
Ben Franklin once wrote that “Glass, china and reputation are easily cracked, and never well mended.” Reputation risk can be mitigated through these steps
Operational Risk - Foreseeing the Unforeseen Costs of Outsourcing
Operational risk is the risk of financial loss when processes, people or systems fail. It can hurt a financial institution in many ways, including these...
Credit Risk - You’ll Take the Blame If Your Vendor Doesn’t Have the Credit
See the definition of credit risk.
5 Redlining Risks Your Compliance Team Can't Afford to Ignore in 2017
The regulators have sent a clear signal in 2016: Redlining is a focal point. Here are 5 Redlining risks your compliance team can't afford to ignore in 2017…
5 Fatal Flaws That Will Destroy Your Fair Lending Compliance Program
Over the years, we've noticed these 5 fatal flaws that can jeopardize your Fair Lending risk management and catch the regulators' attention. Learn more tod…
The Human Side of Vendor Management - What Vendor Management Can Learn From HR
Many financial institutions view vendors as a necessary evil, but extending a little trust to vendors goes a long way towards building a bridge to success.
One Size Doesn't Fit All - Updated Guidance from CFPB on Third-party Service Providers
The CFPB clarifies guidance on how to treat vendors of different sizes and impacts after many have been treated with equal scrutiny regarding due diligence
Compliance 101: Defining REMAs, Assessment Areas & More
Learn the definition of key terms like REMA, Assessment Area & Performance Context, which are essential for Fair Lending, CRA and Redlining compliance...
Surrogate Regulators: The Vendor Management / Fintech Connection
Should Fintech companies be regulated? With banks responsible for third-party services and the CFPB addressing regulatory concerns, is it necessary?
Losing Control: Poor Compliance Controls Lead to $28.5 Million in Fines and Redress for Navy FCU
Empty threats are rarely a good idea—and sometimes they are straight-up illegal. That’s the lesson $73 billion-asset Navy Federal Credit Union is learning.
Your Vendor Shortlist is Not a State Secret
Keeping your vendor shortlist a secret may seem like a good idea, but protecting it only serves to limit your options as the buyer.
How Not to Manage Risk–A Lesson Courtesy of Wells Fargo
Either Wells Fargo didn’t have strong enough account opening and management policies and procedures in place or there wasn’t a strong enough system ensure
Are Your Third-Party Vendors Protecting the Rights of Servicemembers?
America’s armed forces protect our country—and the financial services industry is supposed to do the same for servicemembers.
Preventing the Top 3 Vendor SLA Mistakes
one of the most effective tools in a financial institution’s vendor management arsenal, but too many institutions make major mistakes when crafting SLAs.
Compliance Emergency Room - Tracking Exam and Audit Findings
Your latest audit just revealed findings. What now? It's time to triage them in your compliance emergency room. What's that? Read more to find out.
Vendor Mistake Costs Bank $10 Million
Think your bank is compliant and following the law? You can’t be sure unless you’re closely monitoring your vendors.
BSA Meets Vendor Management
How necessary is it to document your vendor selection process? If a new law in New York state is any indication, it’s becoming more and more important.
What is Vendor Management?
If you've ever wondered, what is vendor management exactly, we've broken it down to help you understand if vendor management is right for you.
Regulators Use Mystery Shoppers for $10.6M Fair Lending & Redlining Settlement
The CFPB is now using mystery shoppers to identify Fair Lending and Redlining risk, resulting in a recent $10.6M settlement. Learn about this new...
The Real Cost of Compliance for Lenders [Infographic]
The cost of compliance for banks and lenders in 2016 is high. Learn key facts and figures about the real cost of compliance with this free infographic!
Compete with the CFPB for Complaints...It's Good Business!
The CFPB is actively seeking consumer complaints - are you competing for access to those complaints from your consumers? You should be. Learn why.
Beware Fair Lending Risks Associated with Second Reviews & Exceptions
A recent HUD settlement highlights potential Fair Lending risks related to second reviews & exceptions. Learn about the agreement and our observations.
Can Your Third-party Vendor Fend off Cyber Attacks?
What do the Bangladesh central bank and your third-party vendors have in common? They need to be taking steps to protect from cyber attacks.