Tag: occ

After Six Years, Agencies Fine Mortgage Processor $65 Million

It’s bad enough to be hit with a regulatory consent order. Now imagine the expense and public relations nightmare when…

Don’t Let the Gift of a Longer Small Bank Exam Cycle Become a Liability

Well-capitalized, well-managed banks with less than $1 billion in assets must have been on the regulators “nice” list last year. The federal…

Why You Need to Focus on Cybersecurity Risk Now

Vendor risk management is an ongoing process—one that begins with due diligence before a contract is signed and continues with…

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…

Compliance Risk – Avoid Vendor Compliance Failures by Properly Assessing Risk

Compliance risk is the danger financial institutions face when they outsource product and service delivery to third-party vendors. It’s not…

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. Companies that aren’t managed…

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.” Reputational risk is present…

Surrogate Regulators: The Vendor Management / Fintech Connection

If you build it, they will regulate it—but should they? That’s a question financial institutions should be asking as agencies…

Don’t Blow It at Exam Time – Pay Attention to the FFIEC Cybersecurity Assessment Tool

Remember when you were in college and had to decide if you’d do the recommended reading for a class? It…

Three Years and Many Millions Later: Paying the Price When a Vendor Fails to Deliver

There is such a thing as too little, too late—especially if you’re a bank that made the mistake of failing…