Fraudsters’ latest target? UI benefits Jan 01st 2021 12:01am on Focus, Fraud, General, Regulation & Compliance, Security, Technology Fraudsters’ latest target? UI benefits Jan 01st 2021 12:01am on Focus, Fraud, General, Regulation & Compliance, Security, Technology Criminals have stolen more than half a billion dollars by taking advantage of the surge in unemployment claims during the pandemic. Luckily, most of this money has been recovered. Here’s what you should know about this scheme.
What 2021 will mean for the CRA, PPP and more Jan 01st 2021 12:01am on Focus, General, Regulation & Compliance The pandemic may have brought attention away from compliance and regulatory changes, but some of that may return this year. Regulators are weighing reforms regarding the Community Reinvestment Act, Home Mortgage Disclosure Act, Paycheck Protection Program and more.
The year’s compliance challenges you need to know Dec 01st 2020 12:12am on Focus, General, Regulation & Compliance While the Paycheck Protection Program and COVID-19 rightly dominated much of community banks’ attention this year, 2020 still brought some regulatory changes.
From redlining to modernization: A CRA overview Nov 01st 2020 12:11am on Advocacy & Policy, Focus, General, Regulation & Compliance, Regulation / Compliance The Community Reinvestment Act was designed to stop redlining, the impact of which is still felt in metro areas today. We look at the past and current CRA, including upcoming revisions from regulators.
How the pandemic is affecting risk management Nov 01st 2020 12:11am on Focus, General, Regulation & Compliance Because of the pandemic, experts say stress testing loan portfolios is more important than ever. But COVID-19 has changed risk management, and regulators are making accommodations amid the crisis.
3 banks investing in communities under the CRA Oct 01st 2020 12:10am on Banks, General, Industry Insight, Regulation & Compliance, slide Many community banks invest in low- and moderate-income neighborhoods to make lasting impacts while also getting Community Reinvestment Act, or CRA, credit. This work to aid and rebuild communities is the direct result of the close ties community banks develop with the people they serve. Here’s how three community banks are making powerful investments under the CRA.
Why diversity and inclusion matters to regulators Oct 01st 2020 12:10am on Focus, General, Regulation & Compliance This year, many businesses have prioritized diversity and inclusion. But what are regulatory agencies doing to track and enforce diversity and inclusion (D&I) in the financial industry? Here’s what community banks should consider from a compliance perspective.
What you can do now to prepare for CECL Apr 01st 2020 12:04am on General, General, Operations & Management, Regulation & Compliance, slide 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 […]
The regulatory reforms coming up this year Jan 01st 2020 12:01am on Advocacy & Policy, Focus, General, Regulation & Compliance, Regulation / Compliance 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 […]
Looking back at 2019’s compliance changes Dec 02nd 2019 12:12am on Focus, General, Regulation & Compliance 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. […]
