- How housing is financed has changed significantly in the seven years since the mortgage crisis, from tighter regulation and increased oversight to shifts in housing needs and our country’s cultural dynamics. What role do banks, local not-for-profits, and individuals play in the ever evolving mortgage and housing markets?
- The final rules for the Basel III international capital accord, which will be phased in between the beginning of this year and 2019, include some relief for community banks. There are also some changes that affect the capital standards and reporting for community banks.
- The fourth quarter of 2014 saw considerable activity by both international and US regulators regarding the development of insurance company capital standards.
- More punitive regulatory approach raises financial statement audit scrutiny: In the aftermath of the Great Recession, regulators have turned dramatically to a far more punitive approach in dealing with actual and alleged instances of noncompliance with laws and regulations by financial institutions. The increased presence of significant financial consequences, brings into greater light a financial statement auditing standard that previously had infrequent application and limited effect on the financial condition and results of reporting companies’ operations.
- The Office of the Comptroller of the Currency (OCC) recently updated its risk-management guidelines for third-party relationships, and the new guidelines give banks more responsibility than ever. According to the new guidelines, financial institutions have many of the same responsibilities for managing risk from vendors as they do from their own operations.
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