The new accounting changes are nothing less than a revolution. As you review your loans, follow these steps to a successful resolution.
Pending changes to the allowance for loan losses will require banks to repair any deficiencies in data collection in order to model multiple scenarios under the new rules.
As Know Your Customer and other regulatory requirements increasingly slow down the customer onboarding process, banks need to consider scalable and unified technology solutions.
To avoid regulatory fines and reputational damage, banks should set up programs to encourage whistleblowers to first report their concerns internally.
The Fed’s regulations for capital analysis and review may have the unintended consequence of making large banks more competitive, at the expense of smaller ones.
As overdraft fees face regulatory pressure and consumer complaints, it’s time for bankers to adopt a simpler, more transparent approach.