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Pinion Editorial

The “CAT” is out of the Bag

By Pinion Editorial | October 22, 2024
Reading Time: 2 minutes
The Federal Financial Institutions Examination Council (FFIEC) recently made an announcement that they will stop making updates to the Cybersecurity Assessment Tool (CAT) and sunset the tool, effective August 31, 2025. The decision comes at a time when the cybersecurity landscape for financial institutions is rapidly evolving and receiving an …

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Anticipating the Sunset:

By Pinion Editorial | October 22, 2024
Reading Time: 2 minutes
The Tax Cuts and Jobs Act (TCJA), enacted in early 2018 marked one of the most significant overhauls of the U.S. tax system in decades which reduced tax rates for individuals and entities, and altered deductions and depreciation rules. Although many of the provisions are set to expire at the …

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flooded field

Documentation is Key for Disaster Assistance after Hurricane Helene

By Pinion Editorial | October 1, 2024
Reading Time: 2 minutes
Recovery from Hurricane Helene is well underway in the Southeast, and many farmers are struggling with decisions on what to do with damaged crops and livestock facilities. The Category 4 storm impacted farms in the states of Florida, Georgia, Tennessee and the Carolinas, where fast winds and flooding washed out …

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Mastering ICFR Audits: A Guide for Banks with Over $1 Billion in Assets

By Pinion Editorial | September 9, 2024
Reading Time: 3 minutes
Internal Control over Financial Reporting (ICFR) audits are a cornerstone of financial accountability, especially for banks with over $1 billion in assets. The Sarbanes-Oxley Act (SOX) mandates that public companies, including large banks, maintain robust internal controls and undergo ICFR audits to ensure the accuracy and reliability of their financial …

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Off-Balance Sheet Credit Exposure Liability Under (ASC) 326

By Pinion Editorial | September 9, 2024
Reading Time: 2 minutes
Since the effective date of ASC 326 (CECL), we’ve been asked several questions regarding the need for a separate liability for off-balance sheet (OBS) credit exposures, or an “unfunded commitments liability”. Several factors should be considered when determining if this is necessary for your financial institution. Here are three essential …

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usda building

USDA Deadline Announced for Emergency Relief Program and FSA-510 Filing

By Pinion Editorial | July 30, 2024
Reading Time: < 1 minute
The U.S. Department of Agriculture recently announced August 14, 2024, as the deadline for commodity and specialty crop producers that suffered losses as a result of a 2022 natural disaster to apply for the Emergency Relief Program (ERP). An estimated $3.2 billion in funding was allocated by Congress to cover …

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