Expert insights. Personalized for you.
Key Takeaways Holiday sales, including Black Friday and Cyber Monday, are aggressively promoted by criminal sellers on the Dark Web seeking to grow sales and customers. MORE
3 minute read Key Takeaways The USDA released their interim rule on hemp production. States and tribes must include key components in their programs. States may begin submitting programs to the USDA for approval. . MORE
Key Takeaways The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking. MORE
3 minute read Key Takeaways Three countries are added to the FATF list: Iceland, Mongolia, and Zimbabwe. DPRK and Iran continue to need enhanced due diligence. FinCEN released update guidance around these FATF updates. . MORE
Economy | 2 minute read Key Takeaways Overall, October's national employment report was positive. The General Motors strike imp acted the manufacturing sector. Year-to-date, job gains have slowed in comparison to last year. MORE
Key Takeaways To book loans more quickly, institutions must create efficiencies and increase loan turnaround. Institutions must be proactive in effectively pricing loans. Looking to mergers and acquisitions, institutions can expand into new areas of business or geographic markets. MORE
The morning’s Employment Situation Report from the Bureau of Labor Statistics showed a fairly (and surprisingly) strong labor market. There were 266,000 new jobs added in the month of November, compared to the 188,000 new jobs expected. MORE
Key Takeaways Changing your perspective on asset/liability management can position your financial institution for better business results. A dynamic ALM approach provides an ongoing method for evaluating risk and return and for strategic decision-making. MORE
Key Takeaways. The FDIC released a manual on Formal and Informal Enforcement Actions. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . MORE
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Artificial Intelligence in BSA/AML. MORE
A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day. MORE
Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Pillar violations see a big increase in the nature and seriousness of the violation. . Looking back to strengthen your BSA program. MORE
ALM | 4 minute read Key Takeaways Many financial institutions view asset/liability management as a "check-the-box" regulatory exercise. MORE
The following article was first published in ABA Banking Journal on October 17, 2019. Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. MORE
Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Thoughtfully consider whether or not your CU can safely and properly serve hemp-related businesses. Strengthen credit risk by improving your credit union's loan underwriting standards. MORE
Key Takeaways Formerly BAM+ User Group (BUG), ThinkBIG: Fighting Financial Crime has been around for 16 years. Earn approximately 10 CE credits in two-and-a-half days. Get insight on the latest product roadmaps and test out upcoming product releases before they go live. MORE
SAMS | 4 minute read Key Takeaways Staff your BSA department for success with more senior employees on alert triage. Document all decisions and clearly state why the activity is (or is not) deemed suspicious. Optimize your transaction monitoring system regularly. MORE
On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. Sub-category | 10 minute read Key Takeaways Spreadsheet Day is a good time to celebrate this popular tool while examining some vulnerabilities spreadsheets pose for FIs. MORE
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Regulatory change in focus. MORE
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. . MORE
Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Assess data before selecting your methodology or methodologies. Be willing to change as needed. . MORE
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. . MORE
Key Takeaways A dynamic asset/liability management (ALM) process can inform sound decision-making in both strategy and risk – but not many FIs approach ALM this way. Most FIs outsource their ALM model, rather than using a self-run model. Both have their pros and cons. MORE
Key Takeaways FATF best practices identify the most common challenges that countries face in ensuring that the beneficial owner(s) is identified. FATF suggests using a multi-pronged approach to ensure beneficial ownership is obtained. MORE
Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. The SAFE Banking Act looks to create a safe harbor for institutions looking to bank legitimate CRBs. MORE
The following article was first published in ABA Banking Journal on October 17, 2019. In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. The banking industry is no stranger to this. MORE
Key Takeaways Optimizing loan deal flow involves more than number crunching and processes; don't overlook the human component. Some questions may help identify loan types, industries, and even co-workers who contribute to bottlenecks. MORE
The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat? MORE
Key Takeaways To grow your FI, you must support the growth with proper funding. Relationship pricing leverages your customer base and cross-sells products for a larger share of the deposit wallet. Bundling accounts can make a loan more attractive for both the institution and the borrower. . MORE
Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. It's also a good time to enhance your institution's BSA/AML risk assessment. Sustainability of your institution's BSA program deserves particular focus in 2020. MORE
Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. Going digital can help reduce the cost of small business lending and capture more member business loans. MORE
Dark Web | 5 minute read Key Takeaways Cybercriminals are now targeting e-commerce merchants with malware attacks. Merchants of all sizes are being targeted. Financial institutions should be proactive with their fraud prevention on the dark web. . The New Frontier on the Dark Web. MORE
Key Takeaways Cross-selling may be the most efficient way for your financial institution to achieve strong growth. Cross-selling to stem “hidden defections” represents huge untapped opportunities for institutions, according to a study by Bain. Having the right technology can play an important role in cross-selling CFI customers or members. Cross-selling: An efficient growth investment. MORE
CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The board will monitor whether it has divided the two adoption-date buckets in the most appropriate way. MORE
Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States. MORE
Stress Testing | 7 minute read Key Takeaways Stress testing is an important component of sound risk management. Top down and bottom up analysis can inform capital assessments. Stress testing can put a burden on smaller financial institutions, but today's technology "levels the playing field.". MORE
Loan Pricing | 7 minute read Key Takeaways Financial institutions' net interest margins face a nasty squeeze, but a number of factors can contribute to lower yields on loans. Financial institutions have options when net interest margins are squeezed. MORE
One of the most important business relationships you will have is the one you maintain between your institution and your examination staff. This is not a relationship that only needs attention during the exam process. Instead, this relationship should be nurtured by both sides on an ongoing basis. MORE
Key Takeaways. The landscape around banking hemp and hemp-related businesses is very confusing. A joint statement was issued to provide guidance to institutions regarding banking hemp. The guidance does not cover marijuana banking. . Seeing through the smoke. MORE
Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Keys to effective loan review are independence, sufficient standing in the organization, and adequate funding. MORE
The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions. MORE
Key Takeaways If you don't feel like your modeling results are relevant, then it might be time to ask different questions. Shift your ALM model from a static to a dynamic approach to find more value in your results. Strapped for time to implement these strategies? MORE
Key Takeaways Credit analysts who are proficient in routine skills but also possess certain soft skills are most beneficial to a bank or credit union. Curiosity to dig behind the numbers and perspective are two traits of a strong credit analyst. MORE
On November 8, 2019, the Financial Crimes Enforcement Network (FinCEN) reissued their Geographic Targeting Orders (GTOs) for 12 metropolitan areas. GTOs are authorized under the Bank Secrecy Act to detect money laundering and other illicit activity through the purchases of real estate. MORE
Abrigo
JANUARY 6, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Regulatory change in focus.
Abrigo
JANUARY 27, 2020
Key Takeaways Make sure your credit union is filing SARs and CTRs properly. Thoughtfully consider whether or not your CU can safely and properly serve hemp-related businesses. Strengthen credit risk by improving your credit union's loan underwriting standards.
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Abrigo
JANUARY 27, 2020
Key Takeaways Formerly BAM+ User Group (BUG), ThinkBIG: Fighting Financial Crime has been around for 16 years. Earn approximately 10 CE credits in two-and-a-half days. Get insight on the latest product roadmaps and test out upcoming product releases before they go live.
Abrigo
DECEMBER 17, 2019
Key Takeaways Holiday sales, including Black Friday and Cyber Monday, are aggressively promoted by criminal sellers on the Dark Web seeking to grow sales and customers.
Abrigo
JANUARY 21, 2020
Key Takeaways The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, State Regulators are beginning to clearly define their stances on cannabis banking.
Abrigo
JANUARY 10, 2020
Key Takeaways If you don't feel like your modeling results are relevant, then it might be time to ask different questions. Shift your ALM model from a static to a dynamic approach to find more value in your results. Strapped for time to implement these strategies?
Abrigo
JANUARY 8, 2020
Key Takeaways The most popular BSA/AML and fraud blog posts in 2019 related to staying on top of regulatory changes. BSA and compliance officers wanted to read about SARs, risks tied to cannabis-related businesses, and preparing for CAMS exams. Artificial Intelligence in BSA/AML.
Abrigo
AUGUST 6, 2019
The Financial Crimes Enforcement Network (FinCEN) is tasked with protecting the financial system both within the United States and internationally. Financial criminals are working hard, using technology and innovation to their advantage, to stay one step ahead of FinCEN and financial institutions.
Abrigo
JULY 10, 2019
The term kleptocracy has been used in the financial crimes profession for years, but many AML professionals do not understand its meaning and therefore are not adequately monitoring for it within their BSA/AML program. So, what is a kleptocrat?
Abrigo
DECEMBER 30, 2019
Key Takeaways Using exam findings from 2019 can help strengthen your BSA program in 2020. Institutions must create a strong culture of compliance. Pillar violations see a big increase in the nature and seriousness of the violation. . Looking back to strengthen your BSA program.
Abrigo
DECEMBER 19, 2019
Key Takeaways To book loans more quickly, institutions must create efficiencies and increase loan turnaround. Institutions must be proactive in effectively pricing loans. Looking to mergers and acquisitions, institutions can expand into new areas of business or geographic markets.
Abrigo
JULY 17, 2019
One of the most important business relationships you will have is the one you maintain between your institution and your examination staff. This is not a relationship that only needs attention during the exam process. Instead, this relationship should be nurtured by both sides on an ongoing basis.
Abrigo
DECEMBER 10, 2019
Key Takeaways Elder financial abuse/exploitation (EFE) is under-reported although it remains on the rise. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. . The under-reported and growing crime. Elder financial exploitation and elder fraud are rising at an alarming rate as they continue to be serious crimes in the United States.
Abrigo
DECEMBER 16, 2019
Key Takeaways An SEC filer with a 2020 CECL deadline recommends starting ASAP on implementation -- even if your deadline is 2023. Assess data before selecting your methodology or methodologies. Be willing to change as needed. .
Abrigo
DECEMBER 13, 2019
Key Takeaways To grow your FI, you must support the growth with proper funding. Relationship pricing leverages your customer base and cross-sells products for a larger share of the deposit wallet. Bundling accounts can make a loan more attractive for both the institution and the borrower. .
Abrigo
DECEMBER 13, 2019
Key Takeaways Changing your perspective on asset/liability management can position your financial institution for better business results. A dynamic ALM approach provides an ongoing method for evaluating risk and return and for strategic decision-making.
Abrigo
DECEMBER 13, 2019
Key Takeaways. The FDIC released a manual on Formal and Informal Enforcement Actions. ABA study shows banks are reporting more cases of EFE. The Senior Safe Act provides a safe harbor for financial institutions reporting suspected EFE. .
Abrigo
DECEMBER 6, 2019
The morning’s Employment Situation Report from the Bureau of Labor Statistics showed a fairly (and surprisingly) strong labor market. There were 266,000 new jobs added in the month of November, compared to the 188,000 new jobs expected.
Abrigo
DECEMBER 5, 2019
Key Takeaways. The landscape around banking hemp and hemp-related businesses is very confusing. A joint statement was issued to provide guidance to institutions regarding banking hemp. The guidance does not cover marijuana banking. . Seeing through the smoke.
Abrigo
NOVEMBER 25, 2019
Key Takeaways A dynamic asset/liability management (ALM) process can inform sound decision-making in both strategy and risk – but not many FIs approach ALM this way. Most FIs outsource their ALM model, rather than using a self-run model. Both have their pros and cons.
Abrigo
NOVEMBER 25, 2019
Key Takeaways Optimizing loan deal flow involves more than number crunching and processes; don't overlook the human component. Some questions may help identify loan types, industries, and even co-workers who contribute to bottlenecks.
Abrigo
NOVEMBER 22, 2019
Key Takeaways Credit analysts who are proficient in routine skills but also possess certain soft skills are most beneficial to a bank or credit union. Curiosity to dig behind the numbers and perspective are two traits of a strong credit analyst.
Abrigo
NOVEMBER 21, 2019
Key Takeaways FATF best practices identify the most common challenges that countries face in ensuring that the beneficial owner(s) is identified. FATF suggests using a multi-pronged approach to ensure beneficial ownership is obtained.
Abrigo
NOVEMBER 21, 2019
Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. It's also a good time to enhance your institution's BSA/AML risk assessment. Sustainability of your institution's BSA program deserves particular focus in 2020.
Abrigo
JANUARY 13, 2020
Key Takeaways Cross-selling may be the most efficient way for your financial institution to achieve strong growth. Cross-selling to stem “hidden defections” represents huge untapped opportunities for institutions, according to a study by Bain. Having the right technology can play an important role in cross-selling CFI customers or members. Cross-selling: An efficient growth investment.
Abrigo
NOVEMBER 19, 2019
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. .
Abrigo
NOVEMBER 19, 2019
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. .
Abrigo
NOVEMBER 18, 2019
Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. The SAFE Banking Act looks to create a safe harbor for institutions looking to bank legitimate CRBs.
Abrigo
NOVEMBER 15, 2019
Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Keys to effective loan review are independence, sufficient standing in the organization, and adequate funding.
Abrigo
NOVEMBER 11, 2019
On November 8, 2019, the Financial Crimes Enforcement Network (FinCEN) reissued their Geographic Targeting Orders (GTOs) for 12 metropolitan areas. GTOs are authorized under the Bank Secrecy Act to detect money laundering and other illicit activity through the purchases of real estate.
Abrigo
NOVEMBER 11, 2019
ALM | 4 minute read Key Takeaways Many financial institutions view asset/liability management as a "check-the-box" regulatory exercise.
Abrigo
NOVEMBER 8, 2019
Stress Testing | 7 minute read Key Takeaways Stress testing is an important component of sound risk management. Top down and bottom up analysis can inform capital assessments. Stress testing can put a burden on smaller financial institutions, but today's technology "levels the playing field.".
Abrigo
NOVEMBER 7, 2019
3 minute read Key Takeaways The USDA released their interim rule on hemp production. States and tribes must include key components in their programs. States may begin submitting programs to the USDA for approval. .
Abrigo
NOVEMBER 6, 2019
3 minute read Key Takeaways Three countries are added to the FATF list: Iceland, Mongolia, and Zimbabwe. DPRK and Iran continue to need enhanced due diligence. FinCEN released update guidance around these FATF updates. .
Abrigo
NOVEMBER 6, 2019
Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. Going digital can help reduce the cost of small business lending and capture more member business loans.
Abrigo
NOVEMBER 1, 2019
Loan Pricing | 7 minute read Key Takeaways Financial institutions' net interest margins face a nasty squeeze, but a number of factors can contribute to lower yields on loans. Financial institutions have options when net interest margins are squeezed.
Abrigo
NOVEMBER 1, 2019
Economy | 2 minute read Key Takeaways Overall, October's national employment report was positive. The General Motors strike imp acted the manufacturing sector. Year-to-date, job gains have slowed in comparison to last year.
Abrigo
OCTOBER 31, 2019
CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The board will monitor whether it has divided the two adoption-date buckets in the most appropriate way.
Abrigo
OCTOBER 23, 2019
The following article was first published in ABA Banking Journal on October 17, 2019. In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. The banking industry is no stranger to this.
Abrigo
OCTOBER 22, 2019
Dark Web | 5 minute read Key Takeaways Cybercriminals are now targeting e-commerce merchants with malware attacks. Merchants of all sizes are being targeted. Financial institutions should be proactive with their fraud prevention on the dark web. . The New Frontier on the Dark Web.
Abrigo
OCTOBER 21, 2019
The following article was first published in ABA Banking Journal on October 17, 2019. Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers.
Abrigo
OCTOBER 17, 2019
On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. Sub-category | 10 minute read Key Takeaways Spreadsheet Day is a good time to celebrate this popular tool while examining some vulnerabilities spreadsheets pose for FIs.
Abrigo
OCTOBER 15, 2019
SAMS | 4 minute read Key Takeaways Staff your BSA department for success with more senior employees on alert triage. Document all decisions and clearly state why the activity is (or is not) deemed suspicious. Optimize your transaction monitoring system regularly.
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