Vendor management

The credit union regulator has spent 20 years asking lawmakers for greater oversight of third-party vendors. Here's why it might finally happen.

Outages last week at Chime and Varo Money have executives on the defensive.

The National Credit Union Administration board is expected to tackle a rule on nonmember shares this week while the House Financial Services Committee will examine Facebook's effect on financial services.

Draft legislation would amend the Bank Service Company Act to give the National Credit Union Administration third-party vendor oversight, a power it has been requesting for the better part of two decades.

With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.

The deal expands the number of compliance tools owned by credit union leagues and other industry groups.

With lawmakers unlikely to act in the near future to ease financial institutions' regulatory burden, new technologies could be the solution to credit unions’ AML woes.

Banks and third parties must work together to safeguard data being shared when a customer uses mobile apps.

Banks and third parties must work together to safeguard data being shared when a customer uses mobile apps.

Brad Goedken wants agreements for HarborOne Bancorp to include better protections, such as cost reductions if a service fails.

Credit unions on the Corda blockchain platform will be able to make payments via EFT with CU Pay, a product the CUSO plans to roll out next year.

The proposed program would allow companies to test innovative products that “present significant opportunities or benefits” for consumers, businesses and other financial institutions.

Dealing with a service bureau arrangement can unexpectedly become a giant, expensive nightmare. Here's one cautionary tale.

Some contracts are not "adequately" defining which party — the bank or the vendor — is responsible for managing risks, the agency said.

BrightWise is a joint venture among the Iowa CU League, its holding company and LMG Security. The initiative aims to teach credit union professionals how to better protect their institutions.

The league will work with Quatrro Processing Service to provide member credit unions with access to emerging technologies to combat fraud.

A security breach that left 24 million mortgage documents unprotected on a server is rekindling concerns about the risks posed by fourth parties.

As major vendors consolidate, financial institutions should be looking to adopt emerging technologies, rather than relying solely on legacy firms to provide services.

As major vendors consolidate, financial institutions should be looking to adopt emerging technologies, rather than relying solely on legacy firms to provide services.

The $126 million-asset credit union selected the new core platform in order to increase automation and cut down on "busy work" for employees.