Federal Regulators issue Frequently Asked Questions regarding CECL

Recently, the Federal regulatory agencies issued updated Frequently Asked Questions on the new accounting standard for credit losses, Current Expected Credit Losses (CECL).  The new standard will take effect in 2020, 2021 or 2022 depending…
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FDIC Warns of Importance of Vendor Contracts

The FDIC has issued a new Financial Institution Letter (FIL) FIL-19-2019 . This FIL discusses examiner observations about gaps in financial institutions’ contracts with technology service providers that may require financial institutions to…

Phishing

No, I didn’t spell some people’s favorite pastime wrong (fishing) but with summer coming on I thought it pertinent to discuss some hackers’ favorite past time. Phishing is a scam in which a perpetrator sends an official looking e-mail…

Top Concerns

I had the pleasure of attending OCC training for board members this past week.  Good training and great time to hear what bankers are challenged by. The top operational risk management concerns cited by exam area in 2018: Commercial…
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Legislation is advancing in the BSA world

There are several bills in congress, and some still in committee, that could impact the Bank Secrecy Act (BSA) world.  Keep an eye open for H.R. 2514, a bill introduced by Representative Emanuel Cleaver (D-Mo.) that would modernize the Bank…