December 11, 2019
The FASB recently issued amendments to clarify five issues under its credit loss accounting standard.
October 21, 2019
The FASB has approved proposals to delay the effective dates of its leases, credit losses, hedging, and long-duration insurance contract standards.
October 6, 2019
The FASB intends to give smaller financial institutions more time to adopt its new credit loss standard, but banks should not use this as an excuse to delay preparations for the accounting change.
August 14, 2019
The London Interbank Offered Rate is the most common reference rate in the global financial markets. But, by 2021, it will have been phased out in response to a series of scandals.
January 14, 2019
Community banks and credit unions will have more time before they’re required to apply the credit losses standard as a result of new FASB guidelines.
August 2, 2018
A decade after the global financial crisis shook the United States into a recession, rules that placed strict regulations on thousands of small and medium-sized banks have been lifted. That means more flexibility for banks and potential borrowers.
August 7, 2017
While lending regulations have been the recent regulatory hot-topic, banks should continue to be concerned about the Bank Secrecy Act (BSA) and the impending changes associated with the new due diligence standards regarding beneficial ownership.
June 26, 2017
As we mentioned in our previous article, there is uncertainty around the Consumer Financial Protection Bureau (CFPB) and its current structure under the new administration.
February 20, 2017
“Regulation has actually been horrible for big business, but it’s been worse for small business,” President Donald Trump said. “Dodd-Frank is a disaster.”
October 19, 2016
The recent devastation in the southeastern United States will likely result in heightened regulatory attention to flood regulation compliance. Flood insurance laws and regulations have been, and continue to be, a hot topic with regulators.
July 15, 2016
Familiarity breeds contempt. That’s how some bank compliance officers have come to regard the TILA-RESPA Integrated Disclosure Rule (TRID). I’ve heard some compliance officers transform the acronym into “The Reason I Drink.”
July 15, 2016
The Financial Accounting Standards Board (FASB) has released a long-awaited accounting standard that responds to some concerns prompted by the global financial crisis.
March 11, 2016
With the Consumer Financial Protection Bureau (CFPB) cracking down on improper lender compensation plans, banks should anticipate increased scrutiny in this area from their primary regulator.
November 6, 2015
KraftCPAs PLLC is pleased to announce that Michael Davis became a member in the firm on Nov. 1, 2015.
March 6, 2015
On Oct. 2, 2014, the Federal Financial Institutions Examinations Council (FFIEC) released Financial Institution Letter 50-2014 (FIL-50-2014) — providing some good news for private banks.