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Enforcement Consumer Financial Protection Bureau (CFPB) Third-Party Risk

Goodwin

Managing Vendors In An Era Of Increased CFPB Scrutiny

Goodwin on

For financial institutions, having compliance management systems that mitigate in-house risk is not sufficient to meet regulatory expectations. With more work now outsourced to third party vendors, financial institutions are...more

Pillsbury - Global Sourcing Practice

The UDAAP Trap: How Financial Institutions can Avoid Penalties when Using Third Party Services

In Part 1, we noted that financial institutions could find themselves potentially liable for committing an alleged Unfair, Deceptive, or Abusive Act or Practice (UDAAP) as a result of the actions of certain types of external...more

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