BlogPosts By Category


How to Help Your Customers Impacted by Hurricane Irma

9/14/2017

We have started getting questions from clients in affected areas about what assistance they should be providing customers in affected areas. What should you be doing to help your customers affected by Hurricane Irma? 

 

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Regulatory Tripwire! Home Equity Line of Credit Statement Format

9/7/2017

Although this topic is not new, it continues to surface from time to time. I want to share a reminder of the regulatory requirements for properly disclosing on the borrower's initial periodic statement for a Home Equity Line of Credit (HELOC) the account-opening (start-up) fees paid out of the first advance.

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Identifying Third-Party Sender Relationships

8/17/2017

In a previous FAQ for the new NACHA rule, I addressed common concerns about the upcoming Third-Party Sender Registration rule, which takes effect on September 29, 2017. A key component of this rule is being able to properly identify Third-Party Sender relationships before the registration period begins. 

Many times, while performing audits, it is determined that the financial institution has customers acting as a Third-Party Sender and don’t even know it.  To help make sure that you are not one of those institutions, here is some information that describes what a Third-Party Sender is and some guidance on how to identify a Third-Party Sender, so you won’t be caught off guard. 

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Relief Regarding Shortage of Appraisers

8/8/2017

Sometimes I don’t know if I’m the only one to get the news or the last to get it. I like to think of it as the art of juggling. In my defense this has been sitting in a ‘to read’ pile for months, but still in my peripheral vision. 

Basically, the federal banking agencies and the NCUA provided options to address the shortage of state certified and licensed appraisers, specifically for lenders operating in rural areas. 

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Frequently Asked Questions: Targeting New NACHA Rule & Requirements

7/25/2017

If your financial institution is an Originating Depository Financial Institution (ODFI), make sure that you are aware, informed, and ready to register with the National Automated Clearing House Association (NACHA).  The new Third Party Sender Registration rule will come into effect this September (September 29th to be exact), so let us help you prepare!

Here are answers to some frequently asked questions regarding the upcoming Third-Party Sender Registration Rule.

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Navigating the Social Workplace

7/20/2017

Social media platforms are legitimate business tools; therefore, companies must place a high priority on developing social media etiquette.  Participating on your company’s social media platforms (Twitter, Facebook, blogs, LinkedIn, etc) can benefit both you and your company.  

Here are some things to consider when you participate on your company’s social media platforms.

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Your Credit Report: Some Things in Life are Free

6/23/2017

Your credit history plays a key role in so many things (e.g., loan approvals, apartment leasing, job opportunities, etc.) that it's crucial to ensure the information in your credit report is correct.  You are entitled by law to a FREE copy of your credit report from all three consumer reporting agencies (Equifax, Experian and TransUnion) every 12 months.  You can obtain the report in several ways!

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Working Remotely: Perks & Pitfalls

6/14/2017

So you want to work remotely?  Being able to work from home, out of the office, or off the job site sounds like a great idea, and it can be! But like anything else, it comes with unique perks and pitfalls of which you need to be aware.  Here are a few simple “Do”s and “Don’t”s to aid in your decision to work remotely and help you become successful at it.

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Bank Regulation Alert: Changes in CRA Notices

6/2/2017

Effective January 18, 2017 - The FDIC changed their CRA Notice model language (main office and all branch locations). If your primary regulator is the FDIC, please be sure to update your CRA lobby notices as soon as possible. Keep in mind these two things.

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2018 HMDA Prep: Get Your LEI and Check Your Digits!

4/6/2017

Every HMDA reporting institution must have a Legal Entity Identifier (LEI), a 20-digit alpha-numeric code containing key reference information that identifies legal entities participating in financial transactions. For example, your LEI might look something like: 10Bx939c5543TqA1144M.  

So... how do I get the LEI?

 

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Important HMDA Changes effective in 2017 and 2018 pursuant to the CFPB's 2015 HMDA Rule

2/28/2017

Happy HMDA submission day. Hopefully all of you have reviewed your LARs and feel pretty good about their accuracy. Now, it's time to start thinking about collecting 2017 data.

First, did you have less than 25 home purchase and refinance entries on your 2016 or 2015 LAR? If so, then you can celebrate, at least temporarily, because you are not subject to HMDA data collection and reporting in 2017. (...we will pause to give you a moment to celebrate...)

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Need Guidance on Guidance Lines of Credit?

2/15/2017

It's that time of the year again - to scrub your HMDA-LAR!  For some reason, the topic of Guidance Lines of Credit (GLOC) seem to boggle the minds of lenders and compliance officers, as it pertains to HMDA.  So, here's some guidance.

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Bank Opening Procedures

2/6/2017

While performing branch reviews for our financial institution clients, I have come across several different procedures that bank employees use to access the bank's premises at the beginning of the day.  The process of opening (and closing) the bank building can be the most vulnerable part of the workday for branch employees. 

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Is It Time for a Full-Time CFO?

11/11/2016

Personnel and staffing issues often weigh heavily on a business owner’s mind. It’s important, of course, to have the right people in the right jobs, but executive hiring decisions aren’t always easy.

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Who's Counting Your Cash?

10/27/2016

In a world of credit and debit cards, it’s easy to forget the importance of proper cash handling. Hundreds of thousands of dollars disappear from medical practices each year simply because “no one was looking.”

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Word to the Wise: How Will New Overtime Rules Affect Your Business?

9/5/2016

The Department of Labor recently published new overtime and worker classification changes to the Fair Labor Standards Act, which will impact more than 4 million workers and their employers.

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Creditors get More Guidance on Upcoming Military Lending Act Expansion

8/30/2016

Last July, the Department of Defense (DOD) expanded the reach of the Military Lending Act (MLA), which protects against high cost and predatory loans to covered members of the armed forces or their dependents.

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What Small Business Fraud Really Looks Like

7/27/2016

It’s one thing to read statistics about fraud, such as those from the Association of Certified Fraud Examiners (ACFE) stating that the median business loss due to occupational fraud is $140,000. But it’s another thing to read the stories of real-life businesses that have been victimized by fraud...

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Financial Institutions Consultants Receive The Certified AML And Fraud Professional (CAFP) Designation

5/27/2016

We are proud to announce that five of our Financial Institutions Consultants have received The Certified AML And Fraud Professional (CAFP) Designation!

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Compliance and Marketing Update : #iTRIDit Selfies Part II

4/18/2016

Our Financial Institutions team had a blast at the Florida Bankers Association’s 31st Annual Consumer Compliance Seminar and the #BankSocial Media Conference!

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Upcoming Bank Compliance and Marketing Training Opportunities

3/30/2016

April is going to be a busy month for bank compliance and marketing professionals! We have a couple conferences and training opportunities you don’t want to miss! To receive real-time updates on compliance and banking matters, please click here to join our various mailing lists that are tailored to your interests and needs! 

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Florida Bankers Association: 2016 Safety and Soundness

2/3/2016

Last week, the Florida Banking Association hosted the 2016 Safety and Soundness event in Tampa and Miami. Saltmarsh Shareholder, Paul Allen led the discussions on the topics of liquidity and sensitivity, providing an overview for banking practitioners on regulatory guidance and best practices within these areas.

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Got TRID? Enter our Selfie Contest to Win $200!!

12/14/2015

So, you got a mortgage loan closed and disclosed under the TRID regulations? That's awesome! 

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Paul Allen Speaks at FDIC Annual Roundtable

5/8/2015

Shareholder, Paul Allen was invited to speak at an annual roundtable, hosted by the FDIC Southeast regional office.

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Interesting Trend in Community Banking

10/20/2014

Unless you've made a concerted effort not to read or watch the news, you  have probably noticed the rather dramatic changes in the banking industry over the past couple of years.  The dramatic reduction in the number of community banks in the United States has been covered extensively by the media during this last round of bank failures since 2008; however, you may not have noticed that the overall number of banks has been steadily declining since the mid-1980's.  From about 15,000 banks in the mid-1980's, we've seen a consistent drop in the number, to below 7,000 FDIC-insured banks and thrifts in the U.S. currently.  That doesn't mean the financial assets of banks have declined (US banking assets climbed from about $2.5 trillion to $9.3 trillion in 2009), rather, there's been significant consolidation in the banking industry, with the largest banks getting much bigger, a significant number of banks failing or merging, and far fewer local, traditional community banks.

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Past Posts By Category

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