By Scott Sargent
For the past several years, federal regulators have targeted vendor management risk as one of their top regulatory priorities. The growing reliance on third-party service providers is only increasing the need and demand for effective vendor management programs. On April 2, the FDIC reminded the banks under its supervision that it expects them to comply with the guidance previously issued.[1]
(more…)By Amandeep Khurana
It has been more than a year since the General Data Protection Regulation went into effect in Europe, and financial institutions are already preparing for the 2020 start of the California Consumer Protection Act (CCPA). However, this is far from the end of the process. New privacy regulations are coming both in the U.S. and around the world. Financial institutions that look at satisfying each new regulation as a separate project requiring incremental changes across their increasingly complex and global data infrastructures will struggle to meet compliance deadlines and ensure accuracy.
(more…)Compiled by Cara Roberts Murez
(more…)By Bruce McClure
In today’s evolving threat landscape banks face considerable pressure to improve security and meet compliance obligations while also controlling costs. This is certainly the case at Planters Bank, an FDIC-insured community bank with 13 locations across Kentucky and Tennessee. With assets totaling more than $1 billion, Planters Bank offers a wide range of consumer and business banking services, but the organization must continually adopt a forward-thinking mindset to deliver innovative yet secure financial services.
(more…)By Donna Parent
In a recent 60 Minutes interview, Jay Powell, Chair of the Federal Reserve, stated that cyber risk is the largest threat to the Fed and to financial institutions throughout the U.S. It’s not difficult to understand why. Today’s digital age, paired with the ongoing development of new technologies, have provided a breeding ground for cybercriminals to capitalize upon, across physical and mobile devices.
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