Michael Berman

Michael Berman

Founder & CEO, Ncontracts

How will the New Cyber Incident Notification Rule Affect your FI? 4 Steps to Update Your Institution’s Incident Response Plan
Risk Management

How will the New Cyber Incident Notification Rule Affect your FI? 4 Steps to Update Your Institution’s Incident Response Plan

Federal regulators have been encouraging financial institutions to share information about known cyber incidents for years. Now banks and their third-party service providers have until May 1, 2022, to comply with the new rule requiring prompt regulator notification in the event of a cyber incident. How to Respond When a

Third-Party Vendors & Compliance Risk: 10 High-Risk Compliance Situations & the Due Diligence Documentation Mistakes That Make Them Hard to Discover
Risk Management

Third-Party Vendors & Compliance Risk: 10 High-Risk Compliance Situations & the Due Diligence Documentation Mistakes That Make Them Hard to Discover

The only thing worse than getting in trouble for making a mistake is getting in trouble when somebody else makes a mistake. That’s the situation financial institutions face when a third-party vendor acting on behalf of the bank doesn’t comply with laws and regulations. Your bank may think