compliance

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Webinars
Jan 26, 2022
In this virtual roundtable with a panel of community financial institution executives, we explored their journey of implementing CECL. Here are the strategies, lessons learned and insights that they can share with their peers based on their implementation journey.
Oct 16, 2019
A new accounting standard means lots of changes, including how qualitative factors (Q Factors) apply. In this webinar, gain an understanding of Q Factors with CECL, and learn how they need to be applied under CECL compared to the incurred loss model.
BID Newsletters
Dec 21, 2022
The Bank Supervision Operating Plan, published annually by the Office of the Comptroller of the Currency, can serve as a “cheat sheet” to help CFIs focus their compliance efforts in the right areas. Among the 13 areas identified by the 2023 operating plan, two are related directly to credit quality.
Jul 12, 2022
CFIs and other banks now have 36 hours to report serious hacks, including those that may disrupt operations, cause material losses or even threaten the stability of the entire financial system. Is 36 hours enough time for CFIs?
May 19, 2022
Anti-money laundering practices have been under more scrutiny as the pandemic ushered in more digital payments and cryptocurrency activity. Now, with the invasion of Ukraine, anti-money laundering measures and OFAC compliance tops regulators’ lists. Here are important risks to look out for and reminders on how to continue strengthening your practices to mitigate these risks.
Apr 15, 2022
Compliance-related costs account for about 7% of noninterest costs, according to the Federal Reserve Bank of St. Louis. It is critical to stay compliant, but community financial institutions are also looking for ways to reduce costs. Are embedded compliance controls a way to do both?
Mar 29, 2022
The deadline for CECL has not been extended and January 1, 2023, is coming up fast. Are you ready? One specific area of focus for many bankers is using Q Factors consistently. While Q Factors aren’t new, their expected application in CECL is more involved. Here are four Q Factor best practices to prepare you.
Feb 22, 2022
Despite an unprecedented need to help victims of natural disasters and wars around the world, humanitarian aid nonprofits and other organizations — along with their financial institutions — often face challenges transferring funds for aid to certain countries. This is primarily due to the risk of money laundering or terrorist financing. We review the government’s findings on how to improve this situation and what this could mean for community financial institutions.
Feb 8, 2022
Last year, the FBI reported it had pursued 2x the number of people involved in money mule activities vs. those in 2020. While they were able to recover $3.7MM in fraud funds, money mules are still actively recruited, wittingly and unwittingly. Here are three critical tips to protect your institution.
Feb 7, 2022
While most big and mid-sized banks have already implemented the new CECL standard, many community financial institutions are waiting until their deadline of January 1, 2023. Yet, there is a lot to do this year to ensure you are compliant, including running CECL in parallel. Here are three guiding principles that we recommend to keep you on track as you perform your parallel runs.
Feb 4, 2022
Website ADA compliance is not new. However, with new technologies to accommodate those with disabilities, community financial institutions need to keep up to speed. In 2021, the number of accessibility-related lawsuits involving websites, apps, or videos increased 15% YoY. Here are three strategies to ensure your website is accessible for everyone.
Feb 2, 2022
Recently, the OCC released its annual report on the federal banking system’s condition. Although the average capital levels were good and the federal banking system’s liquidity ratio was more than 3x the historical average, certain risks in the industry have increased. We give you some of the report highlights, including three important areas of focus for increased risk.
Dec 23, 2021
Due to the high stakes in cyber risks within the financial industry, regulatory agencies recently issued specific guidance called, “Computer Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers.” The new rule goes into effect on April 1, 2022, and financial institutions are required to comply by May 1, 2022. Here are the details.
Dec 31, 2021
While the BID takes a rest for the holidays, we revisit some of the year's most popular articles.
Dec 30, 2021
While the BID takes a rest for the holidays, we revisit some of the year's most popular articles.
Dec 9, 2021
The Financial Stability Oversight Council (FSOC) recently released its report on climate-related financial risk. It details how the council, including regulators, will be assessing these risks, which have become more integral with many of the activities of the financial institutions that they supervise. Here is an update on the progress of climate-related risk regulations, along with three ways community financial institutions can prepare.
Nov 26, 2021
With 1.15T MB of data being generated each day, data privacy is more important than ever. How can you keep your customers’ data safe? By staying on top of the continuing number of privacy laws and educating your customers on proactively keeping their data from unauthorized users. We walk you through the latest developments.
Sep 30, 2021
Everyone agrees that 2020 was a rough year. However, in hearing from regulators lately, it sounds like we may have gotten through the worst of it. They report that 95% of small banks have CAMELS ratings of 1 or 2. We pass on more of these highlights through an overview of the industry and what to expect from the coming exams.
Sep 27, 2021
Time is of the essence in implementing CECL, as there are many decisions and details involved. One of the most important areas to assess is your institution’s calculations. Once you have calculated your loan loss reserve, you will want to be sure you have addressed the top five areas where these calculations can go awry. Here they are.
Sep 14, 2021
The CECL deadline for community financial institutions is January 1, 2021. Is your institution ready? Many are not. If your balance sheets are too complex or you don’t have in-house experts, you will want to consider a third-party vendor. Here are five key areas to explore when looking for a suitable CECL vendor.
Sep 15, 2021
The number of partnerships between financial institutions and fintechs is increasing with technologies advancing and competition intensifying. Community financial institutions interested in these partnerships may be keen to hear from their peers. So, we give you two successful examples along with the regulatory lay of the land.
Sep 2, 2021
The wealth transfer of $68.4T is coming. Do you have the wealth management services to support this? Community financial institutions with these services gain a new revenue stream, strengthen existing client relationships, and attract new customers. Here are the opportunities and obstacles when planning for wealth management services.
Aug 20, 2021
For his first seven months, President Biden has focused on the economic and health effects of the pandemic. Now that the Infrastructure Bill is a step closer to being passed, he may turn his sights towards banking regulations. Community financial institutions will want to be ready. Here are four key areas that are expected to receive more regulatory scrutiny in the next few months.
Jul 29, 2021
The Federal Reserve recently released its CECL tool, SCALE. Is this option right for your institution? We explain what it is, how it works, and provide you with considerations when reviewing it as an option, including its use of industry data, adjustments to expected loss rates, and no automatic linking with other solutions.
Jul 22, 2021
Recently, the Federal Financial Institutions Examination Council updated four sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. We call out the specific sections affected, including CMIRs and reports of foreign financial accounts, and provide you with a short list of the examiner steps so you can stay compliant.
Jul 9, 2021
The SEC has requested information from financial institutions on their climate risks. SEC Chairman Genzler specifically notes that, “…investors really want…to see climate risk disclosures.” What does this mean for the financial industry? Big banks seem to be complying, while they hope to guide the regulator on the specifics of the information. Yet, community financial institutions hope that they are exempt. We provide you with the latest update to be prepared.
May 26, 2021
The CDC reports that 25% of Americans live with a disability. So, it is important to provide accessible digital options for all. The key drivers include compliance, but also greater inclusivity and the best user experience. What accessibility features are available? Talk to your core provider to ensure you can support all of your customers now with the digital tools they need.
May 20, 2021
Cryptocurrencies are growing in interest and several players in the financial industry are jumping in. Currently, 21.2MM US adults own cryptocurrencies. This updated primer on digital currencies explores currency owners, industry players, benefits to community financial institutions, and mitigating the risks.
May 12, 2021
CECL is not far away with a January 1, 2023 start date. Many bankers have put CECL on the back burner during COVID, but it is time to focus on CECL again. To get you started, we share six steps for completing CECL: form a team, create a timeline, look for third-party expertise, evaluate ALM and stress test, review lessons learned, and utilize resources.
May 5, 2021
RegTech adoption is increasing among financial institutions, especially since digital onboarding grew tremendously during the pandemic. Initially, this will drive up compliance costs, as the manual KYC process is automated. Yet, Juniper Research shows that with a streamlined process in place, costs can be cut by more than $460MM. We provide you with the top three FI RegTech priorities.
Apr 14, 2021
Online data collection is becoming an increasingly important issue, further intensified by the pandemic and digital banking. Instead of waiting on the sidelines for the federal government to take action, a number of states have begun passing their own privacy laws. We highlight some of the current laws in existence and what laws are coming.
Feb 19, 2021
Regulators are actively working on climate risk guidance to assist examiners during exams. Even without that, however, financial institutions are expected to address these risks. We provide you with three steps to better prepare you: review regulatory statements, analyze various portfolio risks, and check-in with third-party vendors and partners.
Jan 28, 2021
There are several changes on the horizon for Anti-Money Laundering compliance. Community financial institutions need to be aware of AMLA, new criteria for potentially suspicious transactions, and even some of the global strategic initiatives coming. Join us as we share the highlights of many AML initiatives.
Jan 8, 2021
Are you wondering what regulators are saying about artificial intelligence and machine learning? We give you some of the regulatory recommendations.
Jan 5, 2021
A robust data privacy program is key for all financial institutions. We explain how it can be a competitive tool as well.
Dec 15, 2020
Even though diversity and inclusion assessments are voluntary, it may be time to be proactive. We explain why.
Nov 10, 2020
Your next regulatory exam will bring some pandemic-specific questions. We give you four tips to ensure you are ready.
Nov 19, 2020
Banking regulators are discussing the effects of weather and climate. We cover the areas of physical risks and financial shocks.
Nov 16, 2020
There is a proposal being reviewed by the Task Force on Financial Technology that would enable fintech companies to acquire special charters to act like banks. We give you some key highlights of this proposal.
Nov 2, 2020
The CFPB and FinCEN each have proposed rules which could help community financial institutions. We give you the skinny.
Oct 28, 2020
Community bankers can expect flexibility from regulators if they are supporting their customers in good faith. We give you an update on what this means for your institution.
Sep 28, 2020
The OCC recently gave banks the go-ahead to provide cryptocurrency custody services. We provide you with some considerations before you do.
Sep 22, 2020
A strong complaint-management program is essential. We cover four key areas as a refresher.
Sep 9, 2020
RegTech has become one of the most popular subsets of FinTech development in recent years for effective compliance. Here are three ways it could help your institution.
Aug 3, 2020
Our readers asked us about compliance management systems, AI to improve customer experience, and re-evaluating strategic initiatives. Today, we provide our insight.
Mar 24, 2020
The FDIC FAQs for you and your customers are important to review. We give you the highlights.
Mar 16, 2020
The big banks are reporting on their CECL reserve. Community financial institutions can learn from what they are sharing.
Mar 3, 2020
Investors are already making adjustments to market valuations, based on how much they project CECL will affect the loan portfolio. Be prepared.
Feb 20, 2020
Like other financial institutions, FNMA and FHLMC must follow the rules of CECL. Yet, if these two GSEs adopt CECL compliance all at once, it could mean withdrawing billions of taxpayer dollars from the Treasury in 2020.
Feb 24, 2020
Data privacy is a big issue these days that seems to be spreading nationwide. We provide you with some insight to help.
Feb 19, 2020
According to an FDIC paper, most community financial institutions don't perform portfolio-level analysis of their CRE loans. Doing so can better prepare you for your next exam and the downturn.
Feb 18, 2020
We uncover some thought-provoking points of interest from a recent risk management survey.
Jan 9, 2020
While CECL is delayed, that's not a reason for your financial institution to sit on its hands.
Jan 15, 2020
The FDIC and OCC have proposed changes to CRA regulations. We have an update.
Jul 30, 2019
Banker confusion around marijuana businesses swirls because the states are not aligned with the feds right now. Is change coming?
May 16, 2019
The Risk Management Association recently published the results of its latest regulatory survey. We provide you with a summary of the findings.
Dec 6, 2019
In releasing the final rule, the federal regulators said 85% of community banks should be able to qualify for the new CBLR ratio rules. Does this include your bank?
Dec 2, 2019
Today we provide insight to customer inquiries on cybersecurity, verifying legal entities and the continuing evolution of digital banking.
May 16, 2018
CECL is ticking closer. We provide you with some questions your examiners may ask around CECL during your next exam to prepare you.
Nov 6, 2019
Today, we offer some thoughts around best practices to ensure your bank is not only following regulations--but also minimizing risk.
Nov 12, 2019
As big banks start finalizing numbers for CECL, other financial institutions can learn from their findings. We report on some of these findings.
Sep 18, 2019
For CECL, banks must assess risk over the life of a loan. Getting enough data for that can be a challenge. We provide help.
Sep 17, 2019
AML regulations can be tough to meet particularly when clever criminals are trying to work around your defenses. We provide a few key pointers.
Sep 3, 2019
In this month's "Inquiry and Insight" issue, Steve Brown answers questions on new products, data loss prevention and SARs.
Aug 26, 2019
The Fed issued a regulatory letter recently that advised its examiners to use new Bank Exams Tailored to Risk (BETR) metrics in determining how deep to probe a community or regional bank. Could this help your financial institution?
Aug 15, 2019
The purpose of Q factors doesn't change in the adjustment from Incurred Loss to CECL. However, there is a big difference in how the CECL standards treat Q factors.
Aug 9, 2019
The CFPB has significantly stepped up its enforcement of UDAAP violations. We offer UDAAP reminders to keep your bank compliant.
Jul 31, 2019
There are advantages for farmers and community bankers alike, with the passing of the 2018 Farm Bill. But much remains unsettled as of yet.
Jul 29, 2019
FASB has made it clear that CECL is complex enough to propose extending the deadline. Knowing that, we provide you with a few things to remember as you assess your timeline.
Jul 23, 2019
As every banker has heard, FASB made a big announcement on CECL last week. We answer an important question many bankers are asking.
Jul 15, 2019
The American Institute of CPAs is planning to shed some light in its upcoming release of guidance on CECL. As the only bank in the AICPA Task Force Meetings, we share some thoughts on the main points covered.
Jul 8, 2019
Optionality can be challenging with CECL. We provide some tips to address the optionality of prepayments for your CECL calculations.
Sep 12, 2018
In the past 5Ys, the number of suspicious activity reports filed annually by US financial institutions has soared. Need some tips to help you fight AML? We have some.
May 31, 2018
Overall time spent on compliance training has increased by 40% in recent years, according to the Bank Administration Institute. Ways to optimize your employee training.
May 9, 2018
CECL is coming and bank management will need to answer questions from its board of directors as they prepare. Here are some questions to expect.
Jun 24, 2019
The Department of Labor recently scrapped a more rigid 7-prong test that guided whether interns could work for free. We provide you with the specifics for the new test.
Jun 26, 2019
To some community banks, WARM looks like a simple way to extrapolate current loss rates over the required life of a loan for CECL. However, there are limitations to consider.
Jun 13, 2019
Community banks will want to take notice that regulators are stepping up enforcement of BSA/AML violations, as evidenced by $2.9B in imposed fines last year. We review the top areas of focus.
Jun 11, 2019
The issue of what constitutes age discrimination has been and continues to be adjudicated in the courts and the issue is only likely to percolate more given the overall aging of the entire workforce. We provide some tips to stay compliant.
May 14, 2019
It's no secret that the process of detecting money laundering is ever more complex. Can AI help?
May 8, 2019
Although CECL has been around for some time, there are still questions around method selection. We walk you through it.
May 1, 2019
There is never a dull moment with #CECL. Get the latest FAQs published by the FDIC compiled based on ongoing questions, new developments and recent updates.
Apr 5, 2019
To implement CECL, your bank will need a dry run to see how your loans and allowances will fare under the new loss-accounting standard.
Mar 26, 2019
Many community banks are grateful that they received regulatory relief in 2018, but sadly others still feel substantially burdened. We provide a regulatory review.
Mar 11, 2019
We have recently heard that some banks are considering using Weighted Average Remaining Maturity (WARM) for their CECL calculations. Is WARM right for CECL?
Mar 8, 2019
We provide you with some things to consider when evaluating the adequacy of your ALM process, as you prepare for your next regulatory exam.
Feb 26, 2019
According to a GAO report, small business loans by online lenders grew from about $582mm in 2013 to $4.2B in 2017. We look deeper into this report, specifically around lending activities using alternative data.
Feb 22, 2019
In February, the federal agencies jointly issued a final rule requiring federally regulated banks and other institutions to accept certain private flood insurance policies. We discuss how this affects community banks.
Feb 11, 2019
When it comes to targeting businesses that offer hemp products, things are shifting so bankers should be aware. A new farm bill legalizes hemp, but there are still challenges out there for bankers.
Jan 9, 2019
The FDIC is giving well-capitalized smaller banks a break on required capital leverage ratio. Will this help your bank?
Jan 8, 2019
There is a lot of information out there on CECL. We provide you with the Top 5 Things to Remember as you get ready for implementation.
Nov 14, 2018
In banking, stringent privacy laws enacted in the US and abroad are forcing banks to question what they need to do to stay in compliance. We provide 3 key tips.
Nov 9, 2018
Sharing BSA resources can be helpful for community banks. A recent interagency statement provides some options and steps to stay safe.
Oct 4, 2018
Anti Money Laundering Suspicious Activity Alerts at banks are soaring, almost doubling since 2013. We bring you the latest updates on this hot topic.
Sep 26, 2018
For many community banks, the tedious task of managing expectations is still time-consuming and inefficient. But new tools, techniques and technologies are emerging.
Sep 18, 2018
Hindsight is often 20/20. So, today we provide some key takeaways from The FinCEN 2018 law enforcement awards ceremony to better prepare you for what may be coming.
Sep 7, 2018
The new California privacy law is being touted as the most stringent privacy law in the US. What do community banks need to know to stay out of trouble?
Aug 23, 2018
Community banks are on track to comply with FinCEN's new AML beneficial ownership rule. A new survey highlights some of the ways they are doing this.
Aug 22, 2018
While cannabis is still illegal in the eyes of the federal government, legislative wheels are turning. We give you an update.
Aug 20, 2018
As CECL draws closer, only 3% of community banks are ready to implement it. A new survey from RMA shows what banks are doing and covers some of their biggest concerns.
Jul 2, 2018
Community banks may be more inclined than their larger counterparts to use cloud computing services. But, it may be difficult to know where to start.
Jun 27, 2018
According to a new SBA rule, banks may no longer issue SBA-backed loans to any business that directly interacts with the marijuana industry, even peripherally. What you should know.
Jun 25, 2018
All banks are trying to fine-tune the onboarding process. We provide some creative ideas from community banks.
Jun 22, 2018
A recent survey of community banks and credit unions by Safe Systems finds 33% of respondents said managing and responding to regulations has become their greatest IT challenge. We provide other insights.
Jun 19, 2018
Enforcement agencies have successfully used BSA reporting to create financial trails that track criminals. We highlight some of their stories for you.
Jun 14, 2018
New Payment Card Industry Data Security Standard requirements will go into effect June 30th. What you should know to stay compliant.
Jun 11, 2018
MIT research examines the effectiveness and cost of post-crisis bank regulation. We provide you with the highlights.
May 29, 2018
Banks are now complying with new rules for reporting beneficial ownership of 25% or more but regulators can ask for information on owners with as little as 10%. We provide tips to help with this.
May 24, 2018
A recent crackdown on money laundering through marijuana and real estate provides important reminders for banks to carefully and actively manage their risk.
May 23, 2018
Efforts are afloat to reduce regulatory burden for community banks. We map them out.
May 22, 2018
GDPR goes into effect on May 25th. How will it impact community banks in the US?
Apr 20, 2018
One of the keys to CECL is understanding how each method works. We give you important information and resources on this.
Apr 5, 2018
The House of Representatives recently passed the MOBILE ACT of 2017. What is it and what does it mean for your bank?
Mar 29, 2018
RegTech is poised to vault ahead in the next 2Ys on the back of technologies such as Big Data. We provide an update for you.
Mar 16, 2018
A new leverage ratio for community banks was created measuring a bank's tangible equity against the total of its average consolidated assets. This is good news. We give you the highlights.
Feb 28, 2018
Hub-and-spoke regulation is reviewed by industry researchers. Some of the interesting findings are revealed.
Feb 13, 2018
For the 3rd year in a row, at the end of 2016, community banks saw their compliance costs rise. That may be turning around.
Jan 18, 2018
Social media financial scams reached $420mm for the top 25 largest US banks. Tactics for banks to manage social media risk and still stayed connected socially.
Jan 8, 2018
Between $800B and $2T is laundered each year. Next-generation BSA/AML solutions with artificial intelligence could help.
Dec 28, 2017
It seems everywhere we turn these days, we hear about CECL. What your bank should know and how to prepare.
Dec 20, 2017
Federal regulations on CRE lending are being tweaked. What your bank should know.
Nov 21, 2017
Understanding BSA/AML with merger and acquisition activity. What steps banks can take.
Nov 1, 2017
New Equal Credit Opportunity Act reporting requirement for loans to small businesses owned by minorities and/or women. What should you include?