By Karen Grandstrand
Banks are enjoying good times and, as one regulator recently told me, “peace time” in terms of regulatory findings and enforcement actions. Hopefully this peace time will continue. However, in case it does not last, it is wise to consider steps that can be taken now to avoid (or at least mitigate) financial stress, which could lead to the need to sell your institution or take on partners. Here are nine areas where I encourage you to focus:
By Anton J. Moch
Picture this: a customer calls to tell you the new mobile payment application you offer through your third party data processor resulted in an unauthorized draw on his $50,000 credit line. The result is an improper electronic payment being made to an outside party.
By Scott Sargent
For the past several years, federal regulators have targeted vendor management risk as one of their top regulatory priorities. The growing reliance on third-party service providers is only increasing the need and demand for effective vendor management programs. On April 2, the FDIC reminded the banks under its supervision that it expects them to comply with the guidance previously issued.
By Justin Dullum
President Donald Trump’s ongoing trade war with China is taking its own toll on the ag industry. But it has come at a time of unprecedented weather events, and the phenomena are a one-two punch.
By KC Mathews and Eric Kelley
Chicken Little would have been a terrible economist. She was hit on the head by a falling acorn and immediately declared “the sky is falling.” Perhaps a bit more analysis should have been conducted since the sky, in fact, was not falling.