BlogPosts By Category


2018 HMDA Prep: Sample Sizes & Error Thresholds for Examiner Testing

11/16/2017

The guidelines detailed how HMDA Loan Application Register (LAR) data, collected beginning January 1, 2018 will be validated by examiners.  In this article, we elaborate upon two topics that should be of importance to compliance officers -- how the testing sample is selected and the specific thresholds for resubmission due to errors.

 

Read Full Article


Effective Now: New Third-Party Sender Registration Rule

11/3/2017

Attention all Originating Depository Financial Institutions (ODFI), the Third-Party Sender Registration Rule is now in effect. Janice Weisz, AAP, has provided key points to assist you through this registration process and make you aware of additional requirements to keep in mind once the initial registration process has been completed.  

 

Read Full Article


2018 HMDA Prep: Examiner Guidelines for Testing HMDA Data

10/31/2017

Jennifer Paradise, CRCM provides more information to help you in your HMDA Prep for 2018! The Federal Financial Institutions Examination Council (FFIEC) has issued HMDA Examiner Transaction Testing Guidelines for validating Home Mortgage Disclosure Act (HMDA) data collected in or after 2018. 

Read Full Article


Conference Prep: Don't Forget Networking Opportunities

10/26/2017

Seasoned conference pros know that every conference is an opportunity to network, whether you go to attend, exhibit, or both. Here are some networking tips to consider before, during, and after the conference.

Read Full Article


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? 

 

Read Full Article


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.

Read Full Article


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. 

Read Full Article


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. 

Read Full Article


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 September 29th, so let us help you prepare!

Here are answers to some frequently asked questions regarding the upcoming Third-Party Sender Registration Rule, and an updated registration link to access the NACHA Risk Management Portal!

Read Full Article


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.

Read Full Article


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!

Read Full Article


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.

Read Full Article


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.

Read Full Article


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?

 

Read Full Article


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...)

Read Full Article


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.

Read Full Article


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. 

Read Full Article


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.

Read Full Article


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.”

Read Full Article


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.

Read Full Article


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.

Read Full Article


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...

Read Full Article


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!

Read Full Article


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!

Read Full Article


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! 

Read Full Article


Past Posts By Category

Saltmarsh CPA - Who We Are

Who We Are

Our professionals have the depth of experience, industry knowledge and worldwide resources to help you reach your goals. We put your success above all else as your trusted advisor.

Saltmarsh CPA - What We Do

What We Do

Saltmarsh offers a full range of professional services to accommodate your needs – from tax planning and accounting services to information technology and employee benefits consulting.

Saltmarsh CPA - Who We Serve

Who We Serve

Saltmarsh serves individuals and businesses. Personal attention, access to the right professionals and rapid response is how we serve.

Contact Us

FORT WALTON BEACH
(850) 243-6713

ORLANDO
(407) 203-8990

ST. PETERSBURG
(727) 821-9200

NASHVILLE
(615) 661-0885

PENSACOLA
(850) 435-8300

TAMPA
(813) 287-1111

info@saltmarshcpa.com
(800) 477-7458

Stay Connected

Sign up to receive updates and important information from Saltmarsh!