Insights CategoryFinancial Institutions

As financial institutions look ahead to 2025, there are several important compliance updates to be aware of which affect areas like Section 1071 of the

With the implementation of ASC 326, commonly known as CECL, there has been a significant focus on loan portfolios within financial institutions. However, attention also

It may come as a surprise, but checks – which many consider to be outdated – have become the payment type most vulnerable to fraud

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

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

The term ‘pig butchering’ may seem out of place in finance, but it aptly describes a new type of cryptocurrency scam that blends social engineering

Artificial intelligence is transforming many industries, including banking and finance. Per a 2023 McKinsey global banking report, it’s estimated AI could enhance the banking sector’s

While beneficial ownership rules have not changed for financial institutions in 2024, there was a change for the legal entity customers you serve. Here is

In August 2023, U.S. Citizenship and Immigration Services released a new I-9 form but has only made it mandatory for all employers as of November

2023 was a tough year for the agricultural industry. Droughts, rising input costs, price volatility, and many other factors put a strain on the industry.

Today, 25% of all crime is cyber-related. With the list of IT concerns ever growing and becoming more sophisticated with each day, an unprotected business

The primary purpose of internal controls is to safeguard an organization and further its objectives. Internal controls function to minimize risks and protect assets, ensure

Now that banks are completing their third call report for the 2023 calendar year, we want to share some valuable insights and lessons learned as

I’m sure you are well aware of the beast the Consumer Financial Protection Bureau (CFPB) issued on March 30, 2023 related to Section 1071, the

The FDIC recently underwent an examination performed by The Office of Inspector General (OIG). The objective of the audit was to determine whether the FDIC’s

“What can we do?” Has been a common question we have received regarding the responsibility and liability related to Electronic Fund Transfers – Regulation E.

With rising interest rates, we’ve received an influx of questions about the impact on the unrealized losses in the bank’s investment portfolio. Most banks classify

In case you missed the OCC Bulletin 2022-15 from May 9, 2022, the OCC updated the physical mailing address of the OCC’s Customer Assistance Group

In case you haven’t heard, the FDIC recently has been scrutinizing how banks are treating single transactions that are repeatedly rejected for insufficient funds. Guidelines

Like many industries, financial institutions are fighting to recruit and retain talent in this tight labor market. Pinion’s community banking advisors have compiled the following

The Pinion Community Banking team members have attended several conferences and trainings over the past month. I just wanted to share with you a few

We’ve been seeing more activity with community banks purchasing non-bank qualified bonds. It’s important to remember the tax consequences of purchasing these bonds. For both

On March 16, 2022, the Federal Reserve increased interest rates for the first time since 2018, and we are anticipating this to continue throughout 2022.

Do you ever take a drive without a specific destination in mind, and end up back where you started and with nothing to show for

Over the past few weeks it feels as if I have been drinking from a fire hose when it comes to compliance as it relates

By now, you’ve probably heard of the new lease standard ASC 842 about to become effective (beginning after December 15, 2021). However, have you thought

October is cybersecurity month – which is akin to the ‘time change’ reminder to check your smoke detector batteries – only this reminds us that

Wherever you were on your technology journey at the start of 2020, COVID-19 has likely caused dramatic changes in your business. Many organizations were pleased

It’s important for financial institutions to prevent, protect, deter, and educate on cyberattacks. First, you must know and address your vulnerabilities: Check and doublecheck for

Regarding the Regulation B Appraisal Notice, we frequently get the question of whether it’s necessary if the application is denied or withdrawn. Reg B {§

Did you know there might be information about your bank’s cyber vulnerability on the internet? Or that it’s common for a hacker to have access

Your mother told you not to wear that shirt inside-out, but now that you’re a banker, it may be a good fit. Everyone calls it

Due to the time consuming, difficult, and often costly analysis involved in testing goodwill impairment of a triggering event, FASB has issued a new standard

ASU 2016-02, Leases Update: FASB officially delayed the leasing standard effective date for non-public entities to December 15, 2021 (i.e., January 1, 2022). This standard

As we’re preparing tax returns, we’ve noticed a lot more activity in non-bank-qualified bonds. As you’re pricing these bonds, you’ll want to take into consideration

Statistics indicate that fraud has accelerated for community banks recently, and the uncertainty surrounding the impacts of the pandemic and election results seem to be

We’ve previously discussed the Employee Retention Tax Credit (ERTC) and how it impacts essential businesses with partial shut downs in previous issues of our GoodSense

As a more frequent Venmo user lately – making garage sale payments in exchange for goods and collecting basketball fees from parents on behalf of

As we’re looking at year-end reporting requirements, it’s important not to forget about 1099-A, Acquisition or Abandonment of Secured Property, and form 1099-C, Cancellation of

By Kerry Hatzenbuehler & Melissa DeDonder Although the Fall 2020 OCC Semiannual Risk Perspective has been published, the Spring 2020 issue relayed important information for

Now that the SBA’s forgiveness eligibility for Paycheck Protection Program (PPP) loans is now open, are you (and your borrowers) applying for forgiveness? K·Coe advisors

In an effort to help satisfy your bank’s annual requirement to educate customers, we wanted to share the following IRS bulletin to easily post on

By: Heather Campbell, CIA Many banks seek guidance for what happens to the Designation of Exempt Person (DOEP) forms following mergers/acquisitions (M&A). Compiled below are

Starting January 1, 2020, banks could elect to begin using the Community Bank Leverage Ratio (CBLR) or framework. Designed to simplify calculations for capital ratios

As we previously reported, we believe banks could be eligible for the Employee Retention Tax Credits (ERTC); although it may not be as easy as

Changes in Appraisal Timelines Banks have found it increasingly challenging to obtain, in a timely manner, the required appraisals and evaluations needed for real estate-related

The FFIEC released an update to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual on April 15, 2020 for the first time in six years.

As part of the CARES Act, many banks are participating in the SBA’s Paycheck Protection Program (PPP), providing funds to hundreds of Americans and small

Time’s Up for Old Regulation CC: What’s Changing and Why Regulations, like old computers or cell phones, can become out of date or require updating.

When asked the question of how fraud is most often detected within an organization, most people would respond with “auditors” or “internal auditors.” After all,

Having to perform a “regulator mandated” Home Mortgage Disclosure Act (HMDA) resubmission is hard work. And, if you don’t put the work in before you

By: Heather Campbell, CIA Recently there has been a lot of commentary on bank security related to cyber threats, but attention should also be given

With thousands of dollars at stake per violation, banks need to be sure they have processes in place to insure flood compliance. This continues to

October brings promise of candy corn, bright orange pumpkins, and trick-or-treaters delivering happy fright on Halloween night. October also symbolizes the month to recognize another

Due to recent reports that there has been a high rate of noncompliance, not only has the IRS published a formal letter regarding this issue,

In the rut of day-to-day issues and projects, it is easy to skim and dismiss the mass of headlines on the latest ‘possibilities’ of artificial

By Heather Campbell, CIA While we are told to “aggregate” transactions on a Currency Transaction Report (CTR), that does not mean we are to mark

By Rhonda Broekemeier In the world of payment processing the rules are in constant evolution. Are you aware of the recent changes that impact financial

By Vikki Nicometo From a high-level view, what is the number one goal for a bank or organization? Speak with any bank executive and she

By Kati Barnhill Many community banks have early adopted ASU 2016-01 – Financial Instruments – in which equity securities, with readily determinable fair values, are

By Chuck Marshall The concept of private flood insurance, and the ability to utilize it, is not a new one. Guidance around its use was

The family farm business is more than a job, it’s a lifestyle choice for millions of Americans. Most farmers or ranchers spend 50 years or

We’ve spoken with several bankers lately that felt their loan grading and related collateral (mostly real estate) appraisal were pretty solid; then they experienced some