NEW YORK – In response to credit unions, banks, and other businesses facing growing risks from complex vendor contracts, cybersecurity gaps, and regulatory pressures. NERKO PLLC, a newly formed law firm, said it has launched a proactive legal model designed to turn third-party risks into business advantage.
As part of its debut, the firm said it is introducing “Third-Party Advantage,” a no-charge, attorney-client-privileged assessment that helps credit unions and community banks spot vulnerabilities, recover costs, and gain leverage over core processor and critical vendor contracts before problems arise.
‘Unknowingly Exposing Themselves’
“Many financial institutions are unknowingly exposing themselves to millions in potential losses through complex contracts and vendor vulnerabilities,” Charles J. Nerko, founding Member of NERKO PLLC, said in a statement. “Our program provides a confidential, strategic review that uncovers weaknesses, identifies leverage, and equips institutions to negotiate stronger protections and financial recovery before a problem escalates.”
The firm said eligible credit unions and community banks receive a review of their core processors or other critical vendor relationships at no upfront cost.
What’s Included
According to the firm, the confidential, attorney-client-privileged report:
- Pinpoints Performance Lapses – Benchmarks vendor contract performance against contract requirements, regulatory guidance, and industry standards
- Identifies Contractual Leverage – Highlights weaknesses and negotiation opportunities to reduce fees or secure additional protections.
- Outlines Recovery and Remediation Strategies – Maps paths for fraud-risk remediation, vendor-funded security enhancements, and financial compensation.
‘Timely Industry Need’
“The program addresses a timely industry need, NERKO PLLC said. “Rising account takeover fraud and increasing third-party vendor fees underscore the cost of inaction. With IBM reporting $9.36 million as the average U.S. data breach cost, proactive legal intervention is now a strategic necessity.:
NERKO PLLC said it delivers senior-level attention to high-stakes technology and contract issues.
“Charles J. Nerko is nationally recognized for his leadership in protecting credit unions and banks, offering trusted counsel and litigation services in financial institution technology outsourcing disputes,” the firm said. “His work has set important precedents in holding tech vendors accountable for cybersecurity failures and contract breaches, bolstering legal protections for financial institutions in high-stakes technology relationships.”
No Charge
The Third-Party Advantage Program is available at no charge to eligible credit unions and community banks, though participation is limited, the firm said.
For info, go here.
