Tammy Campbell
Aug 19, 2019

As a growing number of states legalize medical and/or recreational marijuana use—Illinois becoming the latest, effective January 2020—financial institutions must acknowledge that they may (and likely do) provide banking services for marijuana-related businesses (MRBs), intentionally or not. With 40 states and the District of Columbia legalizing marijuana use to some degree, financial institutions must take steps towards […]

While many in banking remain vaguely aware of CECL—the current expected credit loss standard—there’s a point to getting past the tongue-twisting name: It signifies one of the most profound revolutions in financial services in generations.

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Flashback to 1994 and Super Bowl XXIX: San Francisco quarterback Steve Young, playing in his first NFL championship after stepping out from the imposing shadow of Joe Montana, threw for 325 and six touchdowns against an outclassed San Diego Chargers defense.

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Banking organizations have come a long, long way since the financial crisis of 2008.

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What is recovery planning, or RP? Simply put, it’s an extension of Basel II/III-era stress testing, which involves development and implementation of an action plan to manage severe stress.

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Its model informs every major market change on a global scale: In January, the Payment Services Directive 2 (PSD2) arrived in Europe, forcing European banks to open up their application program interfaces (APIs) for the first time to fintech and other financial companies.

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In 2018, risk regulations and compliance continue to grab the attention of banks and financial institutions—which of course applies to existing measures such as Basel III and the comprehensive capital analysis and review (CCAR).

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Attorney Michael Dailey has tough decisions to make when he advises his bank clients how to adhere to the Department of Labor’s (DOL) regulations on fiduciary responsibilities.

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Todd Kleperis heads an organization that uses unmarked armored vehicles and heavily-armed men (including veterans) to shuttle bundles of marijuana and bags of cash throughout southern California.

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“Illicit actors,” notes says Scott Swanson, a financial crimes investigator with a big-four accounting firm, “run around the Bank Secrecy Act like it is a chained, aged, and toothless junk yard dog.

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Four letters—CECL—may signify one of the most profound revolutions in financial services since FDIC.

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Banking executives are busy preparing for the most significant accounting change in their careers: CECL, the Financial Accounting Standards Board’s (FASB) new Current and Expected Credit Loss model.

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If regulation is by the book these days, it might as well be from the “Harry Potter” series: the lost volume where brave bankers defend the castle from fire-breathing dragons that grow stronger, fiercer and more adept by the day.

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When the Consumer Financial Protection Bureau (CFPB) sued TCF National Bank in January, it charged that the Wayzata, Minn.

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It’s an eternal worry for banks: how best to detect and report money laundering.

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A recent poll asked financial services leaders when their organizations expect to execute preliminary current expected credit loss (CECL) calculations for the allowance for loan and lease losses (ALLL).

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More than 25 years ago, Bill Gates declared: “Banks are dinosaurs.

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Time deposit owners always want the same thing: more yield and short commitment.

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In articles one and two of this three-part BAI Banking Strategies series, we outlined CECL, the Current Expected Credit Loss standard issued by the Financial Accounting Standards Board.

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