Law & Regulation

“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.

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

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.

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.

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

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

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).

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

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

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.