Pinion Insights: Posts from category

Financial Institutions

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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Newly Proposed 2023 Tax Deductions: Money in your Pocket… If Passed

By Pinion Editorial | January 18, 2024
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Reading Time: 3 minutes
Congress has drafted new tax legislation that is shaping up well amongst both the House and Senate Committee leaders.  The $78 billion tax agreement, introduced as The Tax Relief for American Families and Workers Act of 2024, includes pending rule changes that result in business owners seeing an increase in …

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How the Ag Economy is Affecting Financial Institutions in 2024

By Pinion Editorial | December 21, 2023
Reading Time: 2 minutes
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. As an agricultural lender, you may be wondering what this means for you and how you should handle the turbulence. You’re not alone in your …

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