Safeguarding For The Future: Learning Lessons From The Financial Services Industry On How To Improve Vendor Management Processes

It is not often that an informal, three-page bulletin can result in substantial changes to the operations of a significant portion of the economy. However, the Consumer Financial Protection Bureau’s (“CFPB”) April 13, 2012, bulletin did just that: financial services companies both large and small have made and continue to make extensive changes to the way they conduct business and, in many instances, the focus of those changes does not relate directly to their own operations.

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