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Key Takeaways The SBA has provided guidance for lenders to apply to become PPP lenders. It has provided instructions for lenders that are not active SBA lenders.and those that have a form 750. The SBA is also offering guidance on signing up for E-Tran. MORE
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
Key Takeaways. The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking. MORE
Key Takeaways To better serve their community, as well as stay competitive in this fast-moving environment, savvy CFIs are carefully blending digital innovations with their hallmark relationship banking practices. MORE
Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns. MORE
Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Our Transparent AI is easy to explain to regulators. . MORE
Key Takeaways The Small Business Administration (SBA) and Treasury Department released information on how lenders can become eligible to originate Paycheck Protection Program loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. MORE
This morning’s Employment Situation report from the Bureau of Labor Statistics showed decent strength in labor markets. In January, there were 225,000 new jobs added, significantly higher than the 161,000 jobs predicted. MORE
Large SEC filers have officially adopted the current expected credit loss standard, or CECL, for recognizing credit losses, and other financial institutions are eager to learn from their implementation efforts. 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 The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. Ag producers are predominately concerned about liquidity and income; lenders are most concerned about credit quality, competition, and weaker loan demand. 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 Commercial real estate lending will be a top focus for many financial institutions in 2020. The Mortgage Bankers Association expects 9% growth in CRE originations in 2020. MORE
Key Takeaways The global AML community has long seen the U.S. as behind in KYC. The CDD Rule has strengthened U.S. CDD expectations – both at onboarding and with ongoing monitoring. 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 We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. . MORE
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. MORE
Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules. MORE
Key Takeaways Financial institutions hoping to help small businesses land an SBA 7(a) loan through the Paycheck Protection Program should act now to prepare for customers seeking help due to the coronavirus crisis. MORE
Key Takeaways For the first time in more than a decade, bankers may be dealing with large numbers of TDRs due to the coronavirus crisis. The FDIC recently reiterated that financial institutions should determine whether loans affected by COVID-19 should be reported as TDRs. MORE
Key Takeaways Friday's rollout of the PPP program was met with confusion, frustration, and glitches. E-Tran has been the subject of many frustrations. New lenders must follow a two-stage process to set up access to E-Tran. 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 Albania, Barbados, Nicaragua among the countries added to the FATF watchlist. Trinidad and Tobago is removed from the FATF list. Iran and the DPRK are kept on the watchlist. MORE
Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days. MORE
In an effort to enhance regulatory efficiency and capture complete, accurate Currency Transaction Report (CTR) data to law enforcement, FinCEN has issued an administrative ruling regarding CTRs (FinCEN Form 112). MORE
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. Having a cohesive business continuity plan (BCP) is part of the essential documents for most businesses. MORE
Key Takeaways The OFAC Symposium highlighted the "maximum pressure strategy" to address tensions. The OFAC has increased sanctions activity. The OFAC modernized communication to increase efficiency. 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 Financial institutions who want to maintain a healthy share of business lending this year and through potentially tougher economic times ahead want to be in the best position possible before trouble hits. 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 The CARES Act and its $349 billion Paycheck Protection Program give financial institutions a tremendous opportunity to help small businesses in their communities access much-needed capital during the coronavirus crisis. MORE
Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. The BBB Senior Medicare Patrol issued a COVID-19 Consumer Tip Sheet to protect potential targets of these scams. MORE
Key Takeaways E-Tran is the SBA's application portal Lenders have two options to access E-Tran. While significantly more efficient than mailing forms to the SBA, there are some shortfalls to E-Tran, and a vendor can help. MORE
Abrigo
APRIL 4, 2020
Key Takeaways Friday's rollout of the PPP program was met with confusion, frustration, and glitches. E-Tran has been the subject of many frustrations. New lenders must follow a two-stage process to set up access to E-Tran.
Abrigo
APRIL 3, 2020
Key Takeaways The SBA has provided guidance for lenders to apply to become PPP lenders. It has provided instructions for lenders that are not active SBA lenders.and those that have a form 750. The SBA is also offering guidance on signing up for E-Tran.
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Abrigo
APRIL 2, 2020
Key Takeaways Elderly persons are more susceptible to fraud during crises like the coronavirus pandemic. The BBB Senior Medicare Patrol issued a COVID-19 Consumer Tip Sheet to protect potential targets of these scams.
Abrigo
APRIL 1, 2020
Key Takeaways E-Tran is the SBA's application portal Lenders have two options to access E-Tran. While significantly more efficient than mailing forms to the SBA, there are some shortfalls to E-Tran, and a vendor can help.
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Abrigo
MARCH 31, 2020
Key Takeaways The Small Business Administration (SBA) and Treasury Department released information on how lenders can become eligible to originate Paycheck Protection Program loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Abrigo
MARCH 30, 2020
Key Takeaways The CARES Act and its $349 billion Paycheck Protection Program give financial institutions a tremendous opportunity to help small businesses in their communities access much-needed capital during the coronavirus crisis.
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Abrigo
MARCH 27, 2020
Key Takeaways Albania, Barbados, Nicaragua among the countries added to the FATF watchlist. Trinidad and Tobago is removed from the FATF list. Iran and the DPRK are kept on the watchlist.
Abrigo
MARCH 27, 2020
Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns.
Abrigo
MARCH 26, 2020
Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days.
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
MARCH 20, 2020
Key Takeaways For the first time in more than a decade, bankers may be dealing with large numbers of TDRs due to the coronavirus crisis. The FDIC recently reiterated that financial institutions should determine whether loans affected by COVID-19 should be reported as TDRs.
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Abrigo
MARCH 18, 2020
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected.
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
MARCH 13, 2020
Key Takeaways In today's uncertain economic climate, community financial institutions must resolve to manage risk and drive growth.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers’ minds.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers' minds.
Abrigo
FEBRUARY 28, 2020
Large SEC filers have officially adopted the current expected credit loss standard, or CECL, for recognizing credit losses, and other financial institutions are eager to learn from their implementation efforts.
Abrigo
FEBRUARY 27, 2020
Key Takeaways Financial institutions who want to maintain a healthy share of business lending this year and through potentially tougher economic times ahead want to be in the best position possible before trouble hits.
Abrigo
FEBRUARY 27, 2020
Key Takeaways FinCEN hires Digital Innovation Officer to prove commitment to innovation in BSA/AML. Abrigo embraces innovation with the introduction of artificial intelligence scenarios. Our Transparent AI is easy to explain to regulators. .
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
FEBRUARY 24, 2020
Key Takeaways. The number of institutions banking cannabis grew significantly in 2019. Despite Federal ambiguity, Illinois State Regulators defined their stances on cannabis banking.
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
OCTOBER 21, 2019
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.
Abrigo
FEBRUARY 13, 2020
Key Takeaways To better serve their community, as well as stay competitive in this fast-moving environment, savvy CFIs are carefully blending digital innovations with their hallmark relationship banking practices.
Abrigo
FEBRUARY 12, 2020
In an effort to enhance regulatory efficiency and capture complete, accurate Currency Transaction Report (CTR) data to law enforcement, FinCEN has issued an administrative ruling regarding CTRs (FinCEN Form 112).
Abrigo
FEBRUARY 12, 2020
Key Takeaways Commercial real estate lending will be a top focus for many financial institutions in 2020. The Mortgage Bankers Association expects 9% growth in CRE originations in 2020.
Abrigo
FEBRUARY 7, 2020
This morning’s Employment Situation report from the Bureau of Labor Statistics showed decent strength in labor markets. In January, there were 225,000 new jobs added, significantly higher than the 161,000 jobs predicted.
Abrigo
FEBRUARY 6, 2020
Key Takeaways The OFAC Symposium highlighted the "maximum pressure strategy" to address tensions. The OFAC has increased sanctions activity. The OFAC modernized communication to increase efficiency.
Abrigo
MARCH 25, 2020
Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules.
Abrigo
FEBRUARY 2, 2020
Key Takeaways The global AML community has long seen the U.S. as behind in KYC. The CDD Rule has strengthened U.S. CDD expectations – both at onboarding and with ongoing monitoring.
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
MARCH 24, 2020
Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. .
Abrigo
MARCH 23, 2020
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. Having a cohesive business continuity plan (BCP) is part of the essential documents for most businesses.
Abrigo
JANUARY 29, 2020
Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. Ag producers are predominately concerned about liquidity and income; lenders are most concerned about credit quality, competition, and weaker loan demand.
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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