As part of an effective third-party risk management program, financial institutions should perform ongoing monitoring of the third-party relationship, including review of audited financial statements and risk assessments,...more
The declaration of the surge in cases of COVID-19 aka Coronavirus as a global pandemic appears to have caught many people off guard. Governments, businesses, and individuals seem largely to have been unprepared to handle the...more
Government officials continue to respond to COVID-19 and that applies to bank regulators as well. The FDIC issued FIL-17-2020 which encourages financial institutions to assist its customers and communities affected by the...more
When most bankers think of “operational risk,” they think of day-to-day operations like internal or external fraud, reconciliation failures, and the like. The Comptroller of the Currency recently reminded banks, however, the...more
The federal banking supervisors have jointly published 285 pages of proposed rules on incentive-based compensation practices, as required by the Dodd-Frank legislation enacted in 2010. The proposed rules only apply to banks...more
When many small and community bankers serving rural and underserved areas prepare for their New Year’s Eve toast this year, they will be able to make a major New Year’s Resolution: make more home loans. The Consumer...more
The Consumer Financial Protection Bureau recently published the eighth edition of its Supervisory Highlights, in which the Bureau “shares recent supervisory observations” touching on several legal topics under its...more