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When Vendor Risk Management Goes Too Far
If third-party vendor risk management is becoming an overwhelming chore for your bank, perhaps you're interpreting the most recent guidance from the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. too literally.
Paul Schaus is president and of CCG Catalyst.
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The Federal Trade Commission announced Thursday the winners of its "Zapping Rachel" robocall contest held earlier this month at the DEF CON 22 hacking conference. more »
Carrie Hunt is senior vice president of government affairs and general counsel at the National Association of Federal Credit Unions.
The lazy, hazy days of summer appear to have no effect on cybercriminals. If anything, they seem to be emboldened to conduct more attacks. more »
Bloomberg News
The U.S. won a Dutch top court ruling allowing it to seek the extradition of a Russian man suspected of helping to lead a ring that hacked 17 companies including Nasdaq OMX Group Inc. and 7-Eleven Inc. more »
"Data furnishers have the legal duty to identify consumers accurately, correctly recount the consumers' payment histories, and keep their own information and record-keeping in order," the CFPB's Cordray said.
The errors - attributed to software purchased by a vendor - resulted in inaccurate customer credit information being reported to the credit bureaus. The CFPB warns that blaming vendors for technical snafus is not acceptable. more »
A candidate for the Massachusetts Attorney General's office and consumer advocates are calling for a halt to a new state program that uses automated calls to collect undeserved unemployment benefits. more »
Credit Karma must establish security programs to address risks during the development of applications and must undergo security reviews for 20 years under a settlement of Federal Trade Commission charges. more »
AB Acquisition LLC, an Idaho-based company that owns and operates several supermarket chains, reported confirmed that customers' credit and debit card data may have been compromised in a data breach. more »
Americans are spending more in 2014 compared to a year ago, apparently driven by Baby Boomers - although that generation is not necessarily spending for the things they want, according to a recent Gallup poll. more »
"We don't pay any attention to medical debt simply because medical billing is so confusing and it's difficult to tell whether or not the person actually owes the money," said Robert Messer, executive vice president and chief financial officer of the $2.4 billion-asset American National Bank of Texas based in Terrell.
When Fair Isaac Co. announced a new credit scoring model last week, it earned significant media attention and won praise for helping consumers marred by medical debt to boost their scores. more »
An email spammer and his company have settled federal charges that they sent deceptive emails in advance of the Affordable Care Act roll-out, claiming consumers would be violating the law if they did not click a link to enroll in health insurance. more »
FICO has launched a credit risk prognosis tool financial institutions can use to stress-test their consumer loan portfolios. more »
P.F. Chang's has provided an update on the data breach it disclosed in June, revealing that the incident affected 33 restaurants with a specific timeframe for each location. more »

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