Pub. 15 2024 Issue 3

The last several years have been nothing but an ever-changing, dynamic environment for financial institutions to operate in. First, the pandemic induced the recession of 2020, followed by historic low interest rates across the entire yield curve. Second, the historically low-interest environment quickly turned into the most aggressive tightening cycle from the Fed since the […]

Learn How Your Organization Can Help Protect Against the Risk of Internal Fraud The Association of Certified Fraud Examiners’ (ACFE) 2024 Report to the Nations1 highlights the trends observed in occupational fraud, which includes asset misappropriation, financial statement fraud and corruption. According to the report, the most common scheme is asset misappropriation, defined as “a

The Department of Labor (DOL) requires retirement plans with at least 100 eligible plan participants to submit an audit report with their annual Form 5500 return. As you might expect, any audit — even if it’s a routine review — can create anxiety for a plan sponsor. Working with an experienced 3(16) fiduciary can help

Although the actual long-term impact of the overruling of Chevron deference will likely be determined through years of litigation, the initial impact on the banking industry is potentially mixed. On the one hand, the banking industry will have a greater likelihood of success when challenging regulatory agency decisions. Banking regulators will need to be more

Is your bank ready to navigate the rapidly evolving world of artificial intelligence (AI)? AI is transforming industries worldwide, and banking is no exception. As AI technologies become more sophisticated, banks have unprecedented opportunities to enhance operations, improve customer experiences and stay ahead of the competition. However, amid the hype, it is crucial to approach

Using a corporate fiduciary is a win for all involved, saving money, time and headache in the sundries of estate and trust administration. When drafting trust documents, selecting a trustee can be a challenge when picking between family members and trusted family friends or professionals. It is a heavy responsibility many do not understand, nor

In this article, we will review the top consumer compliance issues identified by the FDIC in a recent supervisory report and examine upcoming trends that are expected to gain attention from examiners during the latter half of 2024 and into 2025. The FDIC’s consumer compliance supervisory report released in the spring of 2024 highlights trends