Staying On Top of Vendor Risk Management News: Week of June 25

The need for vendor risk management best practices is at the forefront of the news this week - 60% of industry execs reporting they do not have a comprehensive vendor risk program in place. This could cause some MAJOR issues down the road! Read this story plus more from the CFPB, Merrill Lynch's $42 million fine and rapidly growing RegTech.

Industry News for the Week of June 25

Merrill Lynch gets second SEC fine in less than a month – this one for $42 million: Read here

CFPB structure ruled unconstitutional, the second reversal of the decision as it makes its way slowwwwly toward the Supreme Court: Read here

Further example that the regulators do work with one another – new standards for enhanced communications surrounding enforcement actions among the regulatory agencies: Read here

Article in Philadelphia Inquirer on Alan Kaplinsky of Ballard Spahr: Read here

California's interesting thoughts on proposed OCC charter and sandboxes: Read here

How mobile technology is changing the prepaid world: Read here

Mortgage Bankers Association formally requests the CFPB revisit key rules, particularly those that may be clouded by the practice of “regulation through enforcement action”: Read here

Anonymous companies won’t be able to register in Delaware if this legislation goes through – currently 1.3 million companies are registered in Delaware (more companies than people, population-wise!): Read here

A proper compliance program must include a risk assessment – the key to success: Read here

60% of industry execs report they do not have a comprehensive vendor risk program in place and 47% say they do not have a technology solution: Read here and here 

Learn how to write your own vendor risk program - download our infographic.