On December 15th, the FTC announced in a press release that it had reached a settlement with a mortgage industry data analytics company to resolve allegations in the FTC’s administrative complaint that the company had failed to ensure one of its vendors was adequately securing personal data about tens of thousands of mortgage holders under the Gramm-Leach-Bliley Act (GLBA) Safeguards Rule. … Continue Reading
Ballard/Venminder sponsor podcast on vendor management risk
Ballard Spahr is proud to partner with Venminder, Inc. in sponsoring a podcast on vendor management risk issues. The podcast features Glen Trudel, a partner in Ballard Spahr’s Consumer Financial Services Group, and Branan Cooper, Venminder’s Chief Risk Officer.
The podcast showcases Glen’s perspectives on the likelihood of CFPB, FTC, FDIC and OCC regulatory developments occurring in the near term with respect to vendor management, and includes a discussion of the OCC fintech charter. … Continue Reading
Ballard/Venminder to sponsor April 16 webinar: banking and regulatory expectations in today’s third-party risk management world
Ballard Spahr is proud to be partnering with Venminder, Inc. in sponsoring a webinar, “Banking and regulatory expectations in today’s third-party risk management world,” to be held at 2 p.m. ET on April 16, 2019. Hosted by American Banker, the webinar will feature Glen Trudel, a partner in Ballard Spahr’s Consumer Financial Services Group, and Branan Cooper, Venminder’s Chief Risk Officer.… Continue Reading
House Financial Services Committee passes bills to enhance sharing of information about bank vendors by regulators; create financial technology task force; amend TILA “points and fees” definition
Yesterday, the three bills described below were passed by the House Financial Services Committee. The first two bills were passed by unanimous votes and the third bill was passed by a vote of 34-22.
- The “Bank Service Company Examination Coordination Act of 2017,” (H.R. 3626), which amends the Bank Service Company Act (BSCA) to enhance the ability of state and federal regulators to coordinate examinations and share information about third-party service providers to banks.