Regulation & Compliance articles

A house of cards

Preventing and detecting mortgage fraud

Preventing and detecting mortgage fraud

Many compliance functions are needed to detect mortgage fraud, from FACTA and FCRA to the SAFE Act. Here’s a look at the requirements. By Mary Thorson-Wright Mortgage fraud criminals scheme to separate people from their money (fraud for profit) or to obtain housing (fraud for property). The FBI, which routinely investigates incidents of fraud, defines […]

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How to defend your bank from ransomware

Cybercriminals are taking advantage of ransomware’s low barrier of entry to compromise data and networks from banks, service providers and even customers. But experts say community banks can protect themselves with education, data management and security procedures. By Karen Epper Hoffman Cybercrime often mirrors crime in the physical world, and nowhere is this more apparent […]

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What you can do now to prepare for CECL

Community banks won’t have to implement current expected credit losses, or CECL, standards until 2023, but it’s never too early to start getting ready. Here’s what industry experts say you should know about preparing for CECL. By Kelly Pike Many community banks have been granted a reprieve from implementing current expected credit losses (CECL) accounting […]

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3 ways to protect your bank’s customer data

Community banks collect more customer data than ever before. A data security plan will ensure this valuable information is kept safe from hackers. By Mary Thorson Wright It’s a robbery that no security camera, armed guard or time-locked vault can prevent. The perpetrators are hiding behind the computer screen, and their weapons are sophisticated and […]

The regulatory reforms coming up this year

The pace of regulatory and compliance change isn’t likely to slow down in 2020. Lawmakers, regulators and community bankers are weighing reforms to the CRA, banking marijuana-related businesses and more. By Mary Thorson Wright Ah, 2020. Arduous regulatory upheaval from recent years, like that under the Dodd-Frank Act, Truth in Lending Act (TILA)-Real Estate Settlement […]

Twin City Bank: A leader in banking cannabis

Twin City Bank in Longview, Wash., has been serving marijuana-related businesses for more than five years, making it a veteran in such a new—and quickly growing—industry. By Katie Kuehner-Hebert Name: Twin City Bank Assets: $58 million Location: Longview, Wash. Twin City Bank in Longview, Wash., has been banking marijuana-related businesses (MRBs), also referred to as cannabis-related […]

Looking back at 2019’s compliance changes

This year, community banks saw the full implementation of S.2155, which provided regulatory relief. While a quiet regulatory year, many community banks were busy improving their own compliance programs. By Mary Thorson Wright The regulatory machine stayed relatively quiet in 2019, but community banks kept busy implementing compliance legislation and guidance issued in previous years. […]

WEBINAR: New Expectations for Q Factors with CECL

SPONSORED WEBINAR | In this webinar, presented by PCBB’s Janet Leung, you will gain an understanding of Q Factors with CECL. Learn how they need to be applied; how they vary based on the complexity of a loan portfolio and your chosen model and how different statistical approaches justify qualitative adjustments. In addition, receive insights on the AICPAs recently released guidelines for auditing CECL.

How your bank should handle consumer complaints

It’s important for community banks to understand and respond to customer complaints. But what should a complaint program include, and how might complaint data be an opportunity to improve your bank’s level of service? By Mary Thorson Wright The ways that community banks process complaints invites the interest of examiners, and with good reason. Complaints […]

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