Financial Institutions

Reading Time: 3 minutes 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 finalized Small Business Lending rule.  Almost every day there is a call to action from the banking industry to challenge the CFPB to provide relief …

Read moreKey Aspects of Section 1071: The Small Business Lending Final Rule

Reading Time: 6 minutes 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 Information Technology Risk Examination (InTREx) program effectively assesses and addresses IT and cyber risks at financial institutions. The audit was performed from April 2021 to …

Read moreThe FDIC was Audited. What Does that Mean for Banks?

Reading Time: 4 minutes “What can we do?” Has been a common question we have received regarding the responsibility and liability related to Electronic Fund Transfers – Regulation E. Unfortunately, we do not always have a clear black and white answer. The interpretation of the regulation always leans more to what is in the …

Read moreRegulation E – Relief or Not?

Reading Time: 2 minutes 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 their securities as available for sale (AFS), which requires them to record the asset at fair value, with an unrealized gain or loss (URGL) in …

Read moreWe Have Unrealized Losses – What Should We Do?

Reading Time: < 1 minute 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 (CAG). If you are an OCC bank, make sure to update the address on your Adverse Action notices under the Equal Credit Opportunity notice. CAG …

Read moreThe OCC Customer Assistance Group Address Has Changed