Regulation

The best way to segment your loan portfolio in time for CECL

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. In fact, the industry is heralding CECL as the biggest accounting change in banking history. And as financial services organizations transition into it, Read More

By |2020-05-27T17:58:16-05:00October 10th, 2018|Comments Off on The best way to segment your loan portfolio in time for CECL

How open banking will reinvent U.S. banking

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. In March, open banking arrived in the United Kingdom thus signaling an inevitable reinvention Read More

By |2020-05-27T17:58:34-05:00June 28th, 2018|Comments Off on How open banking will reinvent U.S. banking

The CECL home stretch: Compliance as a competitive advantage

One way to look at banking, data, silos and credit loss is to consider the image offered by Peter Cherpak, Executive Vice President and Partner at Ardmore Banking Advisors in west suburban Philadelphia: “There’s a lot of lost bankers with spreadsheets all doing their own thing, running around, creating trial balances and information that is uncontrolled and Read More

By |2020-05-27T17:58:35-05:00May 24th, 2018|Comments Off on The CECL home stretch: Compliance as a competitive advantage

Fiduciary limbo: The struggle to get in step with the government’s new wealth management rule

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. If he tells them to continue with compliance changes they’ve made thus far, he risks having them complete lots of work that they potentially won’t need. But if he tells Read More

By |2020-05-27T17:58:38-05:00March 15th, 2018|Comments Off on Fiduciary limbo: The struggle to get in step with the government’s new wealth management rule

With emerging payments, emerging security concerns and consciousness

BAI’s reporting on banking security issues has found that regardless of the threat and response, fraudsters are rapidly adapting not only to security measures, but also to where and how customers access their accounts. Meanwhile, financial institutions face a delicate balancing act; increase security without scaring away customers. Getting that balance right may represent the industry’s greatest Read More

By |2020-05-27T17:59:37-05:00September 28th, 2017|Comments Off on With emerging payments, emerging security concerns and consciousness

Podcast: CECL—Get your bank’s credit records in order

The auditors are sharpening their pencils—and now's the time for banks to prepare for the Current Expected Credit Loss (CECL) standard. Tom Caragher of Fiserv walks us through everything banks need to know about CECL including which records to pulland which staff members to recruit to find to present first-rate data. From the podcast: Tom recently authored Read More

By |2020-05-27T17:59:42-05:00June 30th, 2017|Comments Off on Podcast: CECL—Get your bank’s credit records in order

On the road to recovery: Phasing in your bank’s recovery plan

In September 2016, the Office of the Comptroller of the Currency (OCC) released final guidance for recovery planning that covered a broad range of financial institutions: insured national banks, federal savings associations and federal branches of foreign banks with more than $50 billion in assets. The deadline for an initial plan depends on the bank’s size; the Read More

By |2020-05-27T17:59:43-05:00June 13th, 2017|Comments Off on On the road to recovery: Phasing in your bank’s recovery plan

Cognitive computing’s smart new approach to regulation and money laundering

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. Harry recites spells. The dragons spit back and recite Federal Reserve Board Regulation Z, 12 CFR Part Read More

By |2020-05-27T17:59:43-05:00June 7th, 2017|Comments Off on Cognitive computing’s smart new approach to regulation and money laundering

Overdraft protection policies exceed the limit

When the Consumer Financial Protection Bureau (CFPB) sued TCF National Bank in January, it charged that the Wayzata, Minn.-based bank was “tricking consumers into costly overdraft services.” According to the CFPB suit, the alleged “trick” involved an application process designed to obscure overdraft fees and make them seem mandatory for new customers opening an account. In fact, Read More

By |2020-05-27T17:59:44-05:00May 30th, 2017|Comments Off on Overdraft protection policies exceed the limit

The rules of deregulation: How banks can make the most of a Dodd-Frank repeal

More than 25 years ago, Bill Gates declared: “Banks are dinosaurs." I would argue that the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 is quickly reducing them to fossil fuel status. In his first 100 days in office, Donald Trump acted on his campaign promise to dismantle Dodd-Frank by signing an executive order that Read More

By |2020-05-27T17:59:46-05:00April 25th, 2017|Comments Off on The rules of deregulation: How banks can make the most of a Dodd-Frank repeal