regulatory
Items include
Mar 9, 2023
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.
Mar 2, 2023
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.
Feb 28, 2023
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.
Feb 17, 2023
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.
Feb 16, 2023
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.
Jan 27, 2023
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.
Jan 5, 2023
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.
Dec 15, 2022
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.
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?
Feb 24, 2022
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.
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.
Jan 26, 2022
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.
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.
Nov 23, 2021
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.
Oct 5, 2021
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.
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 22, 2021
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.
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.
Jun 16, 2021
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.
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 4, 2021
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.
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.
Dec 8, 2020
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.
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 9, 2020
Bank of America recently announced it was adding small-dollar loans to its offerings. Should you?
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 2, 2020
The Office of the Comptroller of the Currency has an innovation agenda and a special purpose payments charter is part of it.
Aug 19, 2020
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.
Jul 21, 2020
FinCEN issued an advisory on pandemic fraud scams and schemes. We give you some of the highlights.
Jul 30, 2019
Banker confusion around marijuana businesses swirls because the states are not aligned with the feds right now. Is change coming?
Dec 17, 2019
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?
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?
Nov 14, 2019
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?
Oct 29, 2019
The new Part VI of the FDIC policy manual provides good insight before your next exam. We give you the highlights.
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 11, 2019
The FDIC recently announced multiple initiatives to help streamline and clarify the application process for de novo institutions. We give you the skinny.
Sep 12, 2019
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?
Sep 3, 2019
In this month's "Inquiry and Insight" issue, Steve Brown answers questions on new products, data loss prevention and SARs.
Aug 28, 2019
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.
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 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.
Jun 6, 2019
California recently introduced an anti-displacement code of conduct for financial institutions. Here are some of the things you might want to know.
Jul 9, 2019
In our third "Inquiry and Insight" issue, we share more interesting questions from our readers and provide relevant and insightful answers.
Oct 9, 2018
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.
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 10, 2019
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.
Apr 4, 2019
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.
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.
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.
Jan 31, 2019
A new joint regulatory statement encourages financial institutions to use innovative approaches to BSA/AML compliance. We break it down for you.
Jan 9, 2019
The FDIC is giving well-capitalized smaller banks a break on required capital leverage ratio. Will this help your bank?
Jan 4, 2019
There was an almost unprecedented year of regulatory changes. We give you the highlights.
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 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.
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 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 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 13, 2018
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.
Apr 4, 2018
Banks in states with legalized marijuana may not want to support these businesses. Tips to spot disguised cannabis customers.
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 27, 2018
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.
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.
Mar 9, 2018
A recent survey of compliance officers provides insight for your next regulatory exam.
Feb 28, 2018
Hub-and-spoke regulation is reviewed by industry researchers. Some of the interesting findings are revealed.
Feb 23, 2018
The challenges in BSA/AML continue to morph and change, so community bankers must adapt. A recent survey highlights some issues and best practices.
Feb 20, 2018
A recent survey finds more banks are feeling pressure in managing risk across all lines of business. How does your bank compare?
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.
Feb 7, 2018
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.
Feb 6, 2018
The path to positive consideration under CRA may not be clear for many community bankers. We provide some helpful hints.
Feb 1, 2018
Machine learning shows great promise for catching money launderers and other financial fraudsters. Can regulators be persuaded?
Jan 25, 2018
Regulatory technology products can help banks manage increasingly complex regulator compliance. RegTech could make more capital available for more profitable uses.
Jan 22, 2018
Since 2000, hundreds of community banks have converted to state charters. What are the pros and cons?
Dec 20, 2017
Federal regulations on CRE lending are being tweaked. What your bank should know.
Dec 6, 2017
New Customer Due Diligence requirements go into effect in May of 2018. Learn the four core elements to help your bank stay compliant
Dec 1, 2017
FDIC announced that it would adopt the Fed/OCC guidance on Model Risk Management. What changes will your bank need to make?
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?
