Pinion Insights: Posts from category

Financial Institutions

Navigating HUD Lending: A Guide for Banks

By Pinion Editorial | September 6, 2024
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Reading Time: 3 minutes
The U.S. Department of Housing and Urban Development (HUD) plays a crucial role in expanding access to affordable housing. By providing federal support and insurance for home loans, HUD helps lower the risk that lenders face when borrowers default on their mortgages. Banks that get involved with HUD lending can …

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Decrypting Pig Butchering Scams in the Financial Sector:

By Pinion Editorial | July 25, 2024
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Reading Time: 3 minutes
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 with investment fraud. Much like fattening up a pig before slaughter, scammers build a relationship with their target over time before convincing them to invest …

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What’s New in Kansas Taxes for 2024?

By Pinion Editorial | July 25, 2024
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Reading Time: 2 minutes
On June 21, 2024, Kansas Governor Laura Kelly signed into law Senate Bill 1 (SB 1), which includes a reduction in income tax rates for Kansas Privilege Tax, effective with the 2024 tax year. If you’re a financial institution calculating income tax provisions or recording deferred taxes (including those on …

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Beyond $500 Million: A Guide to FDICIA Compliance for Banks

By Pinion Editorial | July 25, 2024
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Reading Time: 4 minutes
Is your financial institution nearing the $500 million asset threshold? If so, you’ll need to navigate new regulations, particularly those mandated by the Federal Deposit Insurance Corporation Improvement Act (FDICIA).   Regardless of what is driving your growth, crafting a robust plan for FDICIA compliance is essential. Pinion advisors have outlined …

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Update on the Federal Minimum Increase for Exempt Workers

By Pinion Editorial | July 24, 2024
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Reading Time: 2 minutes
Beginning July 1, 2024, the Department of Labor (DOL) enforced a new rule requiring employers to meet a higher salary threshold to classify employees as exempt. Legal Challenges Against the Rule A Win for Texas: A recent court order has exempted Texas from complying with the new federal minimum salary threshold …

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HR Consulting

5 Tips to Refresh Your HR Practices

By Pinion Editorial | June 4, 2024
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Reading Time: 2 minutes
Human resources professionals play a pivotal role in establishing a company’s culture. Not only by implementing policies and practices that reflect the organization’s core values but also through strategic recruitment, employee engagement programs, and fostering a supportive work environment. HR sets the foundational tone that influences the overall workplace atmosphere. …

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artificial intelligence AI

Navigating AI In Finance

By Pinion Editorial | June 4, 2024
Reading Time: 3 minutes
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 productivity by up to 5% and help reduce operating expenditures by up to $300 billion. Integrating AI in the financial sector has changed how institutions …

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Beneficial Ownership Changes: What Does it Mean for Your Institution?

By Pinion Editorial | June 4, 2024
Reading Time: 2 minutes
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 what you need to know to help your clients through the new beneficial ownership rules. Beneficial Ownership Requirements for Financial Institutions Written procedures must be …

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