BankNews.com

BankNews

Compliance News

What U.S. Banks Should Know About Preparing for Dynamic Governance

By Amandeep Khurana

It has been more than a year since the General Data Protection Regulation went into effect in Europe, and financial institutions are already preparing for the 2020 start of the California Consumer Protection Act (CCPA). However, this is far from the end of the process. New privacy regulations are coming both in the U.S. and around the world. Financial institutions that look at satisfying each new regulation as a separate project requiring incremental changes across their increasingly complex and global data infrastructures will struggle to meet compliance deadlines and ensure accuracy.

(more…)

Managing Risk Throughout the Lending Lifecycle

By Suzanne Konstance

“Disruption” is the hot trend of the moment. It seems every industry, whether commercial or consumer, has an individual, company or technology that promises vast improvements via the disruption of existing practices. The truth is that disruption is constant, and in the banking sector, automation actually led to the disruption of consumer and retail banking some time ago. As a result, big changes are now cascading into other areas of banking.

(more…)

Has Your Organization Spent Enough Time Focused on Your Customer Tax Reporting Requirements?

By Tara Ferris, Justin O’Brien and Paul Frasco

The last several years have shown a dramatic increase in the volume and complexity of customer tax information reporting (i.e., Forms 1099), highlighting challenges in the back office tax operations function responsible for tax reporting and withholding. These last few years have taught us that organizations would be prudent to focus on potential reputational risks of customer tax reporting and withholding as well as how to make their process more efficient and effective.

(more…)

The ‘Brexit’ Effect

U.S. companies and banks doing business abroad should be prepared.

By Michael Salerno

As the economy recovered from the financial crisis of 2008, many U.S. companies expanded to the United Kingdom as a way to reach the European Union market, either by exporting, using a U.K. distributor or setting up operations there. Such expansion was a relatively easy move, thanks to a common language and similar banking and legal systems.

(more…)

CECL Progress Is Being Made, but Will It Be in Time?

As the compliance dates for CECL near, progress is being made across the board, but not fast enough, according to CECCl experts. This was the overarching finding of Austin, Texas-based Abrigo’s 2019 CECL Survey. The survey gauged financial institutions’ preparedness for the upcoming transition to the current expected credit loss standard.

(more…)
  • Sign Up

  • Categories

  • Archive

Software: Kryptronic eCommerce, Copyright 1999-2019 Kryptronic, Inc. Exec Time: 0.055923 Seconds Memory Usage: 3.807922 Megabytes
Kryptronic