- FASB issued guidance on accounting for credit losses - current expected credit losses (CECL) standard, with ASU 2016-13 Financial Instruments (Topic 326)
- Kurt Schroeder, guest blogging for MDC, talks about the importance of credit unions focusing on drivers for member loyalty.
- The magnitude of data breaches recently has spurred greater scrutiny of cybersecurity risk. Learn more about the key areas upon which all cyber security examinations should focus.
- The arrival of the Consumer Financial Protection Bureau (CFPB) as a financial regulator has taken the consumer finance industry by storm. Nonbank lenders and servicers have had to become acclimated to regulation through unpredictable regulation.
- It’s no longer enough for banks and other financial institutions to simply have good working relationships with the third parties that provide IT and other services. New, stricter standards and increased scrutiny by the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB), as well as the Federal Deposit Insurance Corporation (FDIC) and the Federal Financial Institutions Examination Council (FFIEC), mean financial institutions now have the same responsibilities for in-house and out-of-house services.
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