All Financial Institutions articles

  • Blog

    Five Star Bank promotes tech services director to CISO


    Financial Institutions, the parent company of Five Star Bank, announced the promotion of Senior Vice President and Technology Services Director Scott Bader to senior vice president and chief information security officer.

  • Blog

    FASB considers how to answer CECL proposal


    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


    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

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


    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

    New suspicious activity monitoring solution uses AI technologies


    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

    Singapore proposes e-payment standards for financial institutions


    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

    Accuity provides greater clarity on KYC risks


    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

    Surveys suggest uncertainty over compliance with CECL


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

  • Blog

    Bipartisan bill targets human trafficking


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

  • Blog

    Bank regulators back scaling of CECL model for smaller banks


    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

    OCC details top bank risks, stresses compliance


    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

    FinCEN wants cyber-attack data in SARs


    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

    Bankers expect big accounting change under CECL model


    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

    CFPB updates exam procedures for Military Lending Act


    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

    SEC will hold FinTech forum on Nov. 14


    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

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


    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


    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

    FASB plans new discussion on credit impairment effective date, guidance


    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

    How to stop banks from behaving like banks


    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


    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 ...