Data Privacy & Security Data Privacy & Security

Congress should give US financial regulators more authority to examine banks’ third-party cyber defenses, FSOC says

By Neil Roland
  • 04 Dec 2020 16:41
  • 04 Dec 2020 16:53
Congress should pass legislation to give financial regulators adequate authority to oversee cyber defenses of third parties that increasingly provide banks with cloud services and teleworking systems, said a risk council of top US regulators.

“The authority to supervise third-party service providers varies across financial regulators,” said the US Financial Stability Oversight Council’s

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Neil Roland

Senior Correspondent

Neil has covered U.S. financial regulation for over two decades, mostly for Bloomberg and Crain Communications. He received a Loeb award for coverage of regulators' response to the collapse of Enron. He also garnered a SABEW award and some Jesse H. Neal awards for stories on the Federal Reserve's response to the 2008 financial crisis. Roland has appeared as a commentator on Fox TV, NPR, C-Span and Bloomberg TV. He received a Master's degree in public policy from Harvard and a Bachelors degree in economics from Cornell.

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