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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