Tag: third-party vendors

First, Second, Third, Fourth and Fifth Parties: How to Measure the Tiers of Risk

Everyone knows that third-party relationships introduce risk. But what about second parties, fourth parties and…

OCC: Third-Party Providers Contribute to ‘Elevated’ Operational Risk

Could a third-party provider be the weak link in your institution’s operations? It’s possible, according…

Notifying Clients of Data Breaches: Which State Law Should We Follow?

Your financial institution is regulated by one state but has an office in another state.…

Should I Stay or Should I Go? Catch Third-Party Vendor Problems Before the Regulators Provide Notice of Violations

It looks like some Utah-based credit unions might be re-examining the risk of broker-dealer networking…

How to Respond When a Vendor Gets Hacked

A vendor data breach is a nightmare for any bank or credit union. From the…

When Your Vendor Says ‘Your Data Was Breached—Six Months Ago.’

What’s worse than a vendor that suffers a data breach that exposes your sensitive customer…

New Regulatory Guidance About Cybersecurity Insurance

Does your institution need cybersecurity insurance? Is it required? If utilized, are there rules? Cybersecurity…

Are You and Your Vendors Ready for GDPR?

All may be relatively quiet on the regulatory front in the U.S., but this May…

3 Reasons Why Cybersecurity Ratings Are a Waste of Money

Investigating a vendor’s cybersecurity can be a time-consuming hassle. Wouldn’t it be nice if you…

How to Break Up with Your Vendor

How to Break Up with Your Vendor There may be 50 ways to leave your…