Items include
- 3 Case Studies
- 2 Podcasts
- 2 Webinars
- 230 BID Newsletters
regulatory
Case Studies
As Bay State Bank expanded, it sought a CECL partner that could not only meet regulatory demands but also align with its growth-oriented vision. Download their case study to learn how PCBB's CECL FIT® supported the bank's growth and evolving loan portfolio needs.
Learn more about how Icon Business Bank, a newly established bank, addressed unique challenges in implementing CECL, like no historical data and a lack of in-house resources, using PCBB's CECL FIT®.
Harleysville Bank struggled with a labor-intensive CECL process that consumed substantial resources and time. Download their case study to learn how PCBB's CECL FIT® helped them enhance efficiency and automate manual processes.
Podcasts
We sit down with a former regulator to explore the keys to success for CFIs. Hear insights on the importance of proactive risk management, strong communication, why involving regulators early in risk discussions is crucial, the significance of corporate governance, and more.
As the cannabis industry grows, community financial institutions face a pivotal decision—should they step into the Marijuana-Related Banking (MRB) space? In this episode, we explore the evolving landscape of MRB, breaking down the risks, rewards, and regulatory complexities of taking on cannabis-related business customers.
Webinars
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.
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.
The OCC issued new and proposed rules that should significantly reduce the regulatory burden for banks under $30B. We discuss the changes and how banking organizations are reacting to the news.
Compliance under Section 1071 of the Dodd-Frank Act will likely pose the biggest burdens on the smallest institutions subject to the new rule. While there are still efforts to block it, the compliance deadline is quickly approaching. We delve into what you should know to start compliance efforts before the regulations take effect.
The CFPB has finalized a data collection rule for lenders that extend credit to small businesses. The regulations aim to find patterns in small business lending that enhance CRA initiatives and make lending practices more equitable. However, trade groups like the ICBA and the CUNA have concerns that the additional burdens of compliance could impede CFIs’ ability to make as many loans as they do. We explain what CFIs should be aware of as this issue unfolds.
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.
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.
A strong complaint-management program is essential. We cover four key areas as a refresher.
Today we continue with the feedback we received from bankers on the most important regulatory concerns due to the coronavirus.
We recently asked community bankers for their top three regulatory concerns with COVID-19. Today is the first of a two-part series highlighting these paramount issues.
A joint statement of the regulatory agencies provides extra considerations for CRA points due to the coronavirus. We give you a summary.
The FOMC made drastic decisions in response to COVID-19 to support the economy. We capture the key points.
The FDIC FAQs for you and your customers are important to review. We give you the highlights.
Data privacy is a big issue these days that seems to be spreading nationwide. We provide you with some insight to help.
The FDIC and OCC have proposed changes to CRA regulations. We have an update.
There are advantages for farmers and community bankers alike, with the passing of the 2018 Farm Bill. But much remains unsettled as of yet.
California recently introduced an anti-displacement code of conduct for financial institutions. Here are some of the things you might want to know.
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.
The most recent FDIC survey found that small business lending by banks has been significantly underestimated. We provide the interesting findings.
While cannabis is still illegal in the eyes of the federal government, legislative wheels are turning. We give you an update.
Banks in states with legalized marijuana may not want to support these businesses. Tips to spot disguised cannabis customers.
The path to positive consideration under CRA may not be clear for many community bankers. We provide some helpful hints.
As European financial institutions prepare to adhere to the EU’s Digital Operational Resilience Act, CFIs may find value in using these rules and regulations to help shape cybersecurity initiatives.
In this second part of our review of 2023, we look at the challenges brought about by the evolving fintech landscape, the ever-increasing cybersecurity threats, and mounting regulatory complexity. We explore how CFIs have responded to these situations.
As regulators step up their oversight of cybersecurity and prepare to impose new regulations, CFIs need to review their cybersecurity programs and plug any gaps accordingly. Regulatory proposals provide the perfect guide for where CFIs should focus their efforts.
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?
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.
This year has certainly been a year of change. Today we look back on how some fundamental changes to the regulatory and cybersecurity landscape have affected community financial institutions. It’s been a year of renewed focus on compliance and risk, the LIBOR transition, and increasing threats from cybercriminals.
Software vulnerabilities cause severe headaches for IT personnel. The number of vulnerabilities has almost tripled from just under 6,500 in 2015 to more than 18,300 in 2020. Is your IT team ready for this exponential explosion? We discuss why it is vital to address these software issues and provide you with three steps to help keep your institution and customers safer.
Today we provide insight to customer inquiries on cybersecurity, verifying legal entities and the continuing evolution of digital banking.
New Payment Card Industry Data Security Standard requirements will go into effect June 30th. What you should know to stay compliant.
A recent survey finds more banks are feeling pressure in managing risk across all lines of business. How does your bank compare?
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.
We interviewed PCBB’s President, Mike Dohren about the key trends he expects CFIs will need to look out for in 2023, including the impact of a slowing economy, the continued rise of disruptive tech, and key regulatory changes.
The FDIC has provided guidance on capital and liquidity buffers for financial institutions to help their customers during the coronavirus crisis. We give you a quick summary.
Major financial institutions like Bank of America and TD Bank illustrate the risks of falling short on anti-money laundering oversight. We look at how CFIs can learn from their missteps to strengthen compliance efforts.
We invited Tony Repanich, President & CEO of Shield Compliance, to share the benefits and challenges of serving cannabis-related businesses, as well as the industry’s outlook.
US financial institutions are falling behind global peers in adopting AI for compliance, slowed by federal deregulation and a patchwork of state rules. We detail the impact and tips to ease the transition.
Recent regulatory changes have cleared the way for financial institutions to delve into crypto. We outline the latest developments and safe strategies for CFIs to start exploring crypto offerings.
U.S. Treasury Secretary Scott Bessent calls for regulatory reforms tailored to CFIs, opening the door for simplified capital requirements and more lending capacity.
A deep dive into three major factors that contributed to a smaller-than-expected capital decline in the 2025 stress test, and their broader implications for CFIs.
Federal Reserve Vice Chair for Supervision Michelle Bowman has called for a sweeping bank regulation overhaul. We delve into some of her ideas to tailor regulations for community financial institutions.
As federal payments shift to faster digital methods, CFIs can support SMB clients by modernizing payment tools, encouraging digital adoption, and delivering real-time capabilities that meet evolving business expectations.
Amidst heightened risks of money laundering and fraud, embedded compliance promises an additional layer of risk control that the banking industry has begun to embrace — including central banks.
A bill to boost new bank formation could help communities that have seen gaps in banking services arise as a result of the shrinking number of community banks.
Experts believe that CFIs have a heightened risk in the areas of BSA and AML compliance. We review these risks and how to identify them and suggest strategies CFIs can adopt to mitigate them.
As open banking becomes more popular, the CFPB is working to establish standards for data sharing, assisted by FDX. CFIs should actively watch how things play out.
In September 2024, several federal regulators updated or finalized their guidelines for evaluating proposed bank mergers. We look at the new guidelines and what they mean for CFIs.
Even if your institution isn't required to comply with the new Personal Financial Data Rights rule, preparing for open banking is essential. As consumer demand for data sharing grows, adopting secure digital interfaces will help you stay competitive and meet evolving expectations.
We interviewed PCBB President Mike Dohren about the key trends he anticipates affecting CFIs in 2025, including regulatory changes, mergers and acquisitions, lending trends, and technology.
In this second part of our review of 2024, we look at the challenges and opportunities arising from increased regulatory scrutiny, the rise of open banking, and the adoption of faster payments.
As regulatory oversight of BaaS increases, CFIs need to be aware of the risks in their third-party relationships. We provide examples of BaaS flubs and how to avoid them.
The FDIC’s Deposit Insurance Fund’s reserve ratio is on track to reach the statutory minimum of 1.35% by 2026 — two years ahead of schedule. We discuss the impact on community banks.
The FDIC is proposing a rule that would change the definition of “deposit broker” and expand the types of exceptions allowed. We outline how the proposed rule could significantly impact banking operations.
As regulatory requirements increase, regtech can help you stay compliant while also lowering costs and increasing efficiency. We discuss possible use cases.
The impact of CECL has been different for small and large CFIs, reflecting the differences in portfolio composition and pre-existing accounting practices between these institutions. We discuss contributing factors.
Certain states allow uninsured banks to have charters and sometimes access to a Fed master account. We discuss what this might mean for the financial industry and CFIs.
Money mule activity is on the rise and CFIs need to be aggressive in their efforts to thwart it, both through initiatives to educate consumers about the risks and internal efforts to identify and crack down on the practice. We discuss precautions to take to protect your customers and your institution from money mules.
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.
FinCEN issued an advisory on pandemic fraud scams and schemes. We give you some of the highlights.
The Federal Reserve has proposed shrinking the regulated interchange cap for debit cards, but banking associations and merchants oppose the change. We summarize each side’s response.
Discover how Enterprise Risk Management (ERM) can transform your CFI by holistically addressing risks and uncovering opportunities. Learn essential ERM framework components, risk assessment tips, and strategies for effective implementation.
The Federal Reserve is considering keeping its Fedwire® Funds Service (Fedwire) and the National Settlement Service (NSS) running seven days a week, including holidays. We detail the potential benefits and costs.
ISO 20022, a new messaging standard by the International Organization for Standardization, enhances communication between financial institutions and customers. Benefits include improved fraud prevention, AML/KYC practices, and efficiency in payment processing. As the November 2025 deadline for compliance looms, we discuss why starting migration now is of benefit to you.
The Federal Reserve recently published the results of its 2023 pilot climate scenario analysis conducted with six of the largest US banks. We discuss some of the Fed's key findings.
Ditch manual efforts in ensuring companywide compliance with evolving regulations. We explore how automation simplifies compliance, minimizing errors and boosting efficiency with cloud-based policy management.
A spate of regulatory actions against banks for compliance deficiencies in their fintech partnerships has bankers concerned. We discuss recent consent orders and provide tips on managing third-party vendor risk.
The CFPB is finalizing a rule that allows consumers and their representatives to access and share consumer data through secure interfaces. We explain the benefits and challenges of its implementation.
The OCC and FDIC have each proposed rules to enhance transparency around their processes of reviewing M&A transactions under the Bank Merger Act. We summarize the details of each agency’s proposal and provide resources to review and comment on the suggested changes.
The OCC recently published its autumn statement on key risks facing the federal banking system. We summarize these risks and suggest ways CFIs can mitigate them to improve their institution’s resilience.
The Community Reinvestment Act is getting modernized with the issuance of a new rule that reflects how the delivery of financial services has vastly changed in nearly 50Ys. We delve into the details, particularly how the new rule will impact community banks and what they should do to prepare for the first phase of implementation, slated for 2026.
As the number of banks continues to shrink, Fed Gov. Bowman says the US needs to find a way to encourage more startups. While some would-be de novo investors resort to buying existing banks and rebuilding them to circumvent the de novo process, Bowman advocates for revisions to de novo regulations. We discuss the logic behind each solution.
The FDIC has published a report outlining three possible options for deposit insurance reform — maintaining or increasing limited coverage for all depositors; implementing unlimited coverage for all depositors; or implementing targeted coverage for businesses. We provide details of the FDIC’s analysis of all three options.
It’s not enough to have a robust program to comply with the Bank Secrecy Act and anti-money laundering regulations — CFIs are required by regulation to also routinely audit whether their programs are truly adequate enough to thwart nefarious acts like drug trafficking and terrorism. We share details of an appropriate auditing process.
Amidst a handful of bank collapses and ongoing economic uncertainty, the Financial Stability Oversight Council has proposed rule changes that would make it easier to regulate and classify non-bank organizations as systemically risky.
Taking steps to make your CFI more user-friendly for persons with disabilities can also translate to greater customer satisfaction. With heightened ADA rules pending, auditing your ADA friendliness is a smart thing to do.
As banking as a service (BaaS) grows in popularity, so does the need for regulatory requirements. We discuss the upcoming trends and concerns with BaaS and how CFIs might prepare for instituting BaaS.
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.
Regulators in the US and abroad are taking a closer look at the climate-related risks that financial institutions face, and are preparing to enhance regulatory requirements on this front. In the first installment of this 2-part series, we’ll explore how climate risk is being approached by banking regulators around the world.
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.
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.
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.
While the BID takes a rest for the holidays, we revisit some of the year's most popular articles.
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.
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.
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.
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.
As we welcome in the new year, there are several regulatory areas to pay extra attention to. We cover COVID-19 flexibility, CECL implementation efforts, the LIBOR transition, CRA changes, and more.
The big banks are reporting on their CECL reserve. Community financial institutions can learn from what they are sharing.
Investors are already making adjustments to market valuations, based on how much they project CECL will affect the loan portfolio. Be prepared.
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.
While CECL is delayed, that's not a reason for your financial institution to sit on its hands.
As big banks start finalizing numbers for CECL, other financial institutions can learn from their findings. We report on some of these findings.
For CECL, banks must assess risk over the life of a loan. Getting enough data for that can be a challenge. We provide help.
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.
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.
As every banker has heard, FASB made a big announcement on CECL last week. We answer an important question many bankers are asking.
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.
Optionality can be challenging with CECL. We provide some tips to address the optionality of prepayments for your CECL calculations.
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.
Although CECL has been around for some time, there are still questions around method selection. We walk you through it.
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.
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.
We have recently heard that some banks are considering using Weighted Average Remaining Maturity (WARM) for their CECL calculations. Is WARM right for CECL?
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.
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.
CECL is ticking closer. We provide you with some questions your examiners may ask around CECL during your next exam to prepare you.
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.
One of the keys to CECL is understanding how each method works. We give you important information and resources on this.
It seems everywhere we turn these days, we hear about CECL. What your bank should know and how to prepare.
The broad, complex sanctions imposed on Russia following its second invasion of Ukraine have been very challenging for financial institutions. CFIs may have to choose between managing the sanctions’ complications or simply avoiding relationships that would require navigating them.
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.
The OCC has released a new strategic plan that prioritizes stronger, more modern community banks. Understanding where the regulator is emphasizing change within its own operations, and where it believes the biggest risks to consumers lie, is the best way to prepare for any likely regulatory changes to come.
The regulatory environment for banking M&A is evolving. Regulatory agencies are assessing the current competitive environment with an eye toward improving measures of competitiveness. While much remains uncertain, the recent merger of U.S. Bank and Union Bank offers some insights that may benefit banking institutions.
Regulators are cracking down on big banks for greenwashing and “social washing”. We provide three steps to help leverage your green and social credentials to build trust and loyalty.
RegTech can help CFIs handle compliance-related tasks, manage vendors, and arrange records so they’re easily searchable and accessible. We look at RegTech and its uses that you might consider for your own institution.
As AI becomes an increasingly important component of the financial world, regulators are stepping up their oversight of its risks. Now is the time for CFIs to look at potential risks that may exist within their AI programs and pre-emptively look for ways to mitigate any risks in anticipation of heightened regulatory oversight.
CRA-regulated CFIs play a crucial role in supporting low- and moderate-income communities and small businesses. We discuss how institutions can ensure compliance with the Act, and how it is evolving to meet the needs of today’s world.
As regulators shift their focus areas for this year’s audits, CFIs should pay particular attention to the new areas that have caught the eyes of regulatory agencies. Knowing what each particular regulator is focusing can be key to acing regulatory exams.
Outgoing FDIC Madam Chairman Jelena McWilliams recently discussed several milestones from her time at the FDIC on a webcast with the Bipartisan Policy Center. A few of her reflections were related to redefining loan modifications during the pandemic and establishing FDITECH. Let’s explore this progress and several other areas too.
Overdraft fees provided almost $33B in income for financial institutions in 2021. This was especially important in a low-interest rate environment. Yet, consumers are pushing back on these fees and neobanks have responded by providing accounts without these fees. Should community financial institutions eliminate these fees to stay competitive?
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?
With July’s executive order to review and likely modify M&A regulations, the Federal Reserve, FDIC, and OCC are beginning to review the current process for bank mergers. While this is still in its early stages, we evaluate how this development could affect the M&A strategies of community financial institutions.
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.
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.
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.
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.
While the BID takes a rest for the holidays, we revisit some of the year's most popular articles.
Cryptocurrencies continue to impact the financial industry. Some traditional financial institutions are more game than others to test the waters. But, one thing seems clear — cryptocurrencies are here to stay. We provide you with the latest update, including results seen at a community financial institution and the latest in regulatory guidance.
Community financial institutions have been hesitant to use cloud services due to regulatory and security concerns. However, there may be changes on the horizon. More than nine out of ten financial institutions recently stated that they are either using cloud services or plan on doing so within the year. We give you the latest developments on cloud services within the financial industry.
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.
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.
As of May 24, 2021, $279.4B in PPP loans has been forgiven. Now, loan forgiveness is coming from a different source — the USDA’s Farm Service Agency. We give you the details, including eligibility, when the FSA forgiveness program starts, how the ABA is involved, and key takeaways for community financial institutions.
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.
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.
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.
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.
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.
The Paycheck Protection Program helped many businesses through the pandemic and community financial institutions played a key role in getting these funds to their customers. Now, with PPP forgiveness underway, what should CFIs expect from the audit process of these loans? We help to answer that question.
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.
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.
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.
Are you wondering what regulators are saying about artificial intelligence and machine learning? We give you some of the regulatory recommendations.
A robust data privacy program is key for all financial institutions. We explain how it can be a competitive tool as well.
Even though diversity and inclusion assessments are voluntary, it may be time to be proactive. We explain why.
To facilitate CRA partnerships, community financial institutions may want to tap into the Fed's program, Investment Connection. We provide highlights of the program, its role at your institution, and key questions to ask potential community partners.
Banking regulators are discussing the effects of weather and climate. We cover the areas of physical risks and financial shocks.
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.
Your next regulatory exam will bring some pandemic-specific questions. We give you four tips to ensure you are ready.
Bank of America recently announced it was adding small-dollar loans to its offerings. Should you?
The CFPB and FinCEN each have proposed rules which could help community financial institutions. We give you the skinny.
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.
The OCC recently gave banks the go-ahead to provide cryptocurrency custody services. We provide you with some considerations before you do.
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.
The Office of the Comptroller of the Currency has an innovation agenda and a special purpose payments charter is part of it.
A new change by the FDIC could broaden the pool of banking industry applicants. We give you three things to consider with this new employment change.
Our readers asked us about compliance management systems, AI to improve customer experience, and re-evaluating strategic initiatives. Today, we provide our insight.
If you missed the Fed's PPPLF webinar on Friday or just want a summary, we have a recap for you.
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.
We uncover some thought-provoking points of interest from a recent risk management survey.
The EGRRCPA has redefined what counts as a small bank holding company. It raises the asset threshold from $1B to $3B. Is this something to consider?
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?
Community banks can raise capital by utilizing Regulation A, which exempts companies from having to register public offerings with the SEC under certain circumstances. Could this work for your institution?
Today, we offer some thoughts around best practices to ensure your bank is not only following regulations--but also minimizing risk.
The new Part VI of the FDIC policy manual provides good insight before your next exam. We give you the highlights.
AML regulations can be tough to meet particularly when clever criminals are trying to work around your defenses. We provide a few key pointers.
In the past, bank mergers moved at a snail's pace through regulatory approval processes. These days the process is almost 20% faster. Is this a good thing?
The FDIC recently announced multiple initiatives to help streamline and clarify the application process for de novo institutions. We give you the skinny.
In this month's "Inquiry and Insight" issue, Steve Brown answers questions on new products, data loss prevention and SARs.
While ERM is not required for most community banks, more are choosing to implement such programs as a means to reduce risk and increase profits.
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?
The CFPB has significantly stepped up its enforcement of UDAAP violations. We offer UDAAP reminders to keep your bank compliant.
Banker confusion around marijuana businesses swirls because the states are not aligned with the feds right now. Is change coming?
In our third "Inquiry and Insight" issue, we share more interesting questions from our readers and provide relevant and insightful answers.
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.
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.
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.
In our new BID feature, "Inquiry and Insight", we provide questions from readers and bankers and do our best to give you relevant, insightful answers.
The Risk Management Association recently published the results of its latest regulatory survey. We provide you with a summary of the findings.
It's no secret that the process of detecting money laundering is ever more complex. Can AI help?
There were 2,258 website accessibility lawsuits in federal court in 2018. Of those, around 130 involved a credit union or bank. We offer tips to keep you safe.
Many community banks are grateful that they received regulatory relief in 2018, but sadly others still feel substantially burdened. We provide a regulatory review.
We provide you with some things to consider when evaluating the adequacy of your ALM process, as you prepare for your next regulatory exam.
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.
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.
A new joint regulatory statement encourages financial institutions to use innovative approaches to BSA/AML compliance. We break it down for you.
The FDIC is giving well-capitalized smaller banks a break on required capital leverage ratio. Will this help your bank?
There was an almost unprecedented year of regulatory changes. We give you the highlights.
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.
Sharing BSA resources can be helpful for community banks. A recent interagency statement provides some options and steps to stay safe.
One way to track whether and when it's safe to hook on to blockchain is by monitoring the regulatory and legal world. We provide you with some of the latest activities here.
Anti Money Laundering Suspicious Activity Alerts at banks are soaring, almost doubling since 2013. We bring you the latest updates on this hot topic.
For many community banks, the tedious task of managing expectations is still time-consuming and inefficient. But new tools, techniques and technologies are emerging.
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.
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.
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?
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.
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.
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.
All banks are trying to fine-tune the onboarding process. We provide some creative ideas from community banks.
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.
Enforcement agencies have successfully used BSA reporting to create financial trails that track criminals. We highlight some of their stories for you.
MIT research examines the effectiveness and cost of post-crisis bank regulation. We provide you with the highlights.
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.
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.
A recent crackdown on money laundering through marijuana and real estate provides important reminders for banks to carefully and actively manage their risk.
Efforts are afloat to reduce regulatory burden for community banks. We map them out.
GDPR goes into effect on May 25th. How will it impact community banks in the US?
Is your bank doing financial modeling? If so, being too conservative can open you up to risks. We share some highlights on this from an FDIC paper.
The House of Representatives recently passed the MOBILE ACT of 2017. What is it and what does it mean for your bank?
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.
For regulators, a focus on modeling efforts at banks has ramped up sharply in recent quarters. A review of the regulatory guidance on model risk management.
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.
A recent survey of compliance officers provides insight for your next regulatory exam.
Hub-and-spoke regulation is reviewed by industry researchers. Some of the interesting findings are revealed.
The challenges in BSA/AML continue to morph and change, so community bankers must adapt. A recent survey highlights some issues and best practices.
For the 3rd year in a row, at the end of 2016, community banks saw their compliance costs rise. That may be turning around.
Beginning May 2018, banks will need to follow new Treasury Department rules to identify beneficial owners by both ownership and control. Here's what your bank should know.
Machine learning shows great promise for catching money launderers and other financial fraudsters. Can regulators be persuaded?
Regulatory technology products can help banks manage increasingly complex regulator compliance. RegTech could make more capital available for more profitable uses.
Since 2000, hundreds of community banks have converted to state charters. What are the pros and cons?
Between $800B and $2T is laundered each year. Next-generation BSA/AML solutions with artificial intelligence could help.
Federal regulations on CRE lending are being tweaked. What your bank should know.
New Customer Due Diligence requirements go into effect in May of 2018. Learn the four core elements to help your bank stay compliant
FDIC announced that it would adopt the Fed/OCC guidance on Model Risk Management. What changes will your bank need to make?
Understanding BSA/AML with merger and acquisition activity. What steps banks can take.
New Equal Credit Opportunity Act reporting requirement for loans to small businesses owned by minorities and/or women. What should you include?
