All Financial Institutions articles

  • Blog post

    FASB considers how to answer CECL proposal

    2019-02-01T16:53:00Z

    The FASB is reviewing a request from a group of mid-sized financial institutions to revise CECL in a way the board has apparently already considered and dismissed.

  • Article

    Walking the KYC and data protection tightrope

    2018-11-29T09:15:00Z

    The EU General Data Protection Regulation is stirring the pot for financial institutions in trying to strike a balance between complying with AML laws while ensuring data protection.

  • Blog post

    Singapore, financial industry to develop guide on ethical use of AI

    2018-04-02T13:30:00Z

    The Monetary Authority of Singapore is working with key industry stakeholders to develop a guide to promote the responsible and ethical use of artificial intelligence and data analytics by financial institutions.

  • Blog post

    New suspicious activity monitoring solution uses AI technologies

    2018-03-12T15:45:00Z

    NICE Actimize, a provider of financial crime, risk and compliance solutions for regional and global financial institutions, has launched its next-generation Suspicious Activity Monitoring solution, which combines machine learning analytics for laser-accurate crime detection with robotic process automation.

  • Blog post

    Singapore proposes e-payment standards for financial institutions

    2018-02-14T10:15:00Z

    The Monetary Authority of Singapore has launched a public consultation on proposed guidelines to protect users of electronic payments, which would set standards on the responsibilities of financial institutions.

  • Blog post

    Accuity provides greater clarity on KYC risks

    2017-11-03T14:15:00Z

    Accuity has announced the launch of Bankers Almanac Sanctions View, enabling financial institutions to gain a comprehensive and holistic view of their financial counterparties to help them perform their KYC due diligence faster and easier.

  • Blog post

    Surveys suggest uncertainty over compliance with CECL

    2017-10-11T17:15:00Z

    Recent surveys suggest continued uncertainty in the financial services sector over how to project credit losses in compliance with a new accounting rule.

  • Blog post

    Bipartisan bill targets human trafficking

    2017-05-10T10:45:00Z

    Recently filed, bipartisan legislation seeks to further engage and empower financial institutions when it comes to identifying and reporting suspicions of human trafficking.

  • Blog post

    Bank regulators back scaling of CECL model for smaller banks

    2017-01-18T17:30:00Z

    Bank regulators issued a year-end Q&A on new credit loss rules to assure examiners and institutions understand that scaled modeling of loan loss allowances is permitted. Tammy Whitehouse explores.

  • Blog post

    OCC details top bank risks, stresses compliance

    2017-01-05T15:00:00Z

    The Office of the Comptroller of the Currency reports that strategic, credit, operational, and compliance risks remain top concerns for banks and other financial institutions. Joe Mont explores.

  • Blog post

    FinCEN wants cyber-attack data in SARs

    2016-11-04T11:30:00Z

    New guidance from the Financial Crimes Enforcement Network addresses the inclusion of information about both attempted and successful cyber-attacks in Suspicious Activity Reports.

  • Blog post

    Bankers expect big accounting change under CECL model

    2016-10-11T15:30:00Z

    Bankers expect CECL, a new rule on how to reflect credit losses in financial statements, to produce big accounting changes. According to Tammy Whitehouse, some say it is the biggest change ever.

  • Blog post

    CFPB updates exam procedures for Military Lending Act

    2016-10-04T14:45:00Z

    The Consumer Financial Protection Bureau has announced the procedures its examiners will use when identifying consumer harm and risks related to the Military Lending Act. Joe Mont has more.

  • Blog post

    SEC will hold FinTech forum on Nov. 14

    2016-09-30T10:30:00Z

    The SEC will host a public forum to discuss innovation in the financial services industry and the evolution of FinTech at the SEC’s Washington D.C. headquarters on Nov. 14, with a live webcast on the Commission’s website. Joe Mont reports.

  • Blog post

    Iceland and Ireland both jailed their bankers. Why aren’t others learning by example?

    2016-08-01T15:15:00Z

    Ireland just sentenced three senior bankers to prison for their role in the 2008-2009 financial crisis. Given how common misbehavior was among senior bankers all over the world in the days before the crisis, why haven’t more been sentenced to jail? Bill Coffin offers an explanation.

  • Article

    FASB: future credit losses required in financial statements

    2016-06-28T15:00:00Z

    A new Accounting Standards Update from FASB means that companies will be using even more forward-looking information in their financial statements to alert investors of potential credit losses yet to materialize. Tammy Whitehouse reports.

  • CreditImpairment
    Blog post

    FASB plans new discussion on credit impairment effective date, guidance

    2016-04-04T16:45:00Z

    Image: FASB is reconsidering the planned effective date for the final standard on credit impaiment and is promising clarifications after concerns were raised by community bankers and credit unions over whether the requirements would lead to difficult and costly accounting processes and procedures. FASB Chairman Russ Golden said the board ...

  • Blog post

    How to stop banks from behaving like banks

    2016-03-16T14:15:00Z

    In the never-ending quest to address the systemic risk posed by the banking industry, a team of academics and the Banking Standards Board have raised fresh initiatives to improve banking regulation itself. But are a globally imposed “risk tax” and a push to improve banking culture really what banks need? ...

  • Article

    Bad News for Banks: More Regulatory Risk Is Coming, With a Political Twist

    2016-01-12T11:15:00Z

    Banks can look forward to a 2016 with additional regulatory risk, with rules layered upon rules, heightened capital requirements, and cyber-security casting an ever-darkening shadow. Even political risk is a reason for concern; With a presidential race underway, calls for breaking up big banks, and reinstating the Glass-Steagall Act, are ...

  • Blog post

    Banks Fear EU Privacy Rules Will Make Fraud Harder to Detect

    2015-09-02T09:00:00Z

    Image: Bankers are claiming new EU privacy laws may end up doing more harm than good, as they will prevent banks from detecting fraud and terrorist financing. Consumer rights groups disagree, arguing that the updated laws will pave the way for more transparency and force banks to behave more responsibly ...