Resource HubPosts By Category


Understanding ACH Risk Assessments: A Crucial Requirement of the Nacha Rules

1/17/2024

The Automated Clearing House (ACH) network has revolutionized how financial transactions are processed in today's digital age. With the increasing reliance on ACH payments, ensuring the security and integrity of these transactions becomes essential. The National Automated Clearing House Association (Nacha) has established rules and guidelines to govern the ACH network, including ACH risk assessment requirements. Let us explore the significance of ACH risk assessments and how they contribute to maintaining a safe and efficient payment ecosystem.

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Nacha's Updated Written Statement of Unauthorized Debit: Should You Update Your WSUD Forms?

11/21/2023

Consumer fraud has become a growing concern, particularly concerning financial transactions and investments. In light of recent fraud trends, including high-profile cryptocurrency fraud cases,  Nacha has recognized the need to address the risks associated with false claims of unauthorized ACH debits. To protect consumers and educate them about the potential consequences of making such claims, Nacha has updated its sample Written Statement of Unauthorized Debit (WSUD) to include language outlining the penalties for misrepresentation.

 

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Saltmarsh Hosts 18th Annual BankTalkCommunity Bank Training & Network Events

9/18/2023

Our 18th annual community bank event, BankTalk, in Tampa, brought together over 100 community bankers and subject matter experts to discuss the challenges facing the industry and also opportunities from technology and innovation to shape the future of the industry. This year's BankTalk is something to rave about, and if you missed out, don't worry – we're here to take you on an exclusive journey through the highlights! 

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Jay Newsome Joins Financial Institution Consulting Group & Expands Firm's Alabama Market Presence

7/13/2023

Join us in welcoming Jay Newsome, CPA, to the Saltmarsh Family! With over 20 years of experience and recognition as one of Business Alabama Magazine's 2022 Faces of Finance, Newsome brings exceptional knowledge and expertise to Saltmarsh's team of talented accountants and consultants dedicated to advising financial institutions of varying sizes and complexity. 

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Best Practice Ideas from the Asset-Liability Management Trenches

6/21/2023

Recent industry uncertainties have highlighted the need to further question and research your Asset Liability Management (ALM) practices especially related to modeling Interest Rate Risk (IRR) and Liquidity.

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Managing Risk: Fraud Deterrence Is Always a Priority

6/1/2023

As we inch closer to marking a quarter of the way through the 21st century, one thing has become very apparent: the 21st century is anything but stable. In 22 years, the world and its economies have endured the threat of international terrorism, a global banking crisis, a worldwide health pandemic, high inflation here in the US, and overseas, the largest European conflict since World War II. Each incident presented unique challenges to consumers and businesses alike, but one thing remained constant: fraud.

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Webinar on Demand: Getting to Know FedNow, Now

4/10/2023

The Financial Institutions practice group at Saltmarsh brings you The Payments Professor to discuss operational and other issues financial institutions should know for FedNOW implementation. Access the webinar on demand!

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Nacha's 2023 Rules Updates: Are You Affected?

3/1/2023

Are you a Bank, Credit Union or Third-Party Sender that originates Micro-Entries on behalf of your customers? With Micro-Entries (Phase 2), risk management requirements will be applied to all Originators of ACH Micro-Entries. Enforcement of this requirement begins March 17, 2023.

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Do I Need an ACH Audit?

12/14/2022

We often get the question. “Do I need an ACH audit?” The general requirement per the Nacha Operating Rules is that a bank or credit union (DFI) must conduct, or have conducted, an audit of its compliance with these Rules annually. However, other parties involved in processing ACH transactions need an ACH audit, too.

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Webinar Recording: Top 8 ACH Audit Findings You Should Be Aware Of

12/5/2022

In this webinar, Senior Financial Institutions Consultant, Sallie O’Brien, AAP, APRP, will discuss today’s top audit findings and best practices to stay in compliance with Nacha Operating Rules for financial institutions. Access webinar materials here!

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Think CECL Is Only for Banks? Not So Fast!

10/27/2022

As we’ve previously noted, most of the CECL-related focus has been on loans receivable, and to a lesser extent, debt securities. Are there any other financial assets that fall under the CECL guidance? The answer might surprise you.

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Saltmarsh Hosts 17th Annual Community BankTalk Event

8/31/2022

For the past 17 years, the Saltmarsh Bank Advisors have brought hundreds of financial institution professionals together for community banking events, BankTalk, to learn about advancements in the industry, regulatory updates and much more. With the turn to virtual after 2020, the team hosted the last three annual events virtually – but that didn’t stop them from getting an insightful lineup of speakers and content!

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Preparing for $500 Million in Assets

8/17/2022

Is your bank approaching $500 million in assets? Have you already crossed that threshold recently? As your bank continues to grow, your reporting needs may change due to FDICIA regulations. Saltmarsh is here to help ensure you remain compliant and that your bank has the resources, time and expertise to meet regulatory requirements.

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Secure Exchange of Standardized Letters of IndemnityNow in Nacha's Risk Management Portal

8/11/2022

Many financial institutions require a written indemnification agreement to be completed in connection with requested ACH returns. This is especially the case when the return of funds cannot be completed using an ACH return entry (i.e., an R06 Return Reason Code) or funds are returned outside the ACH Network (i.e., via wire or check). 

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Best Practice Suggestions for Back-Testing Asset-Liability Management (ALM) Models for Accuracy

8/10/2022

Back-testing has been challenging during this COVID period due to large volume variances and asset yield variances caused by high loan and deposit growth coupled with forecasts not incorporating PPP loan-related fees.

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Words to Live By

7/25/2022

When I was asked to repurpose a blog I wrote almost 10 years ago, at first, I thought it would be hypocritical of me. I had written four recommendations to help my business clients achieve peace and strength during a time of unprecedented change, and unfortunately, I had not been practicing my own recommended behaviors, despite being bombarded with changes! 

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Webinar Materials: The New ACH Rules on Micro-Entries

7/21/2022

In this webinar, Financial Institutions Senior Consultant Janice Weisz, AAP, will provide a high-level overview of upcoming rules associated with Micro-Entries.

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Nacha Micro Entry-Rule

7/12/2022

Micro-Entries are a generally accepted method in the marketplace for an ACH originator to test the validity of a receiver’s account. Although originators have used this low-cost option for quite some time, Micro-Entries are not defined within the Nacha Operating Rules.

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Elder Financial Exploitation by the Numbers

6/15/2022

For those of you working diligently in the financial industry, we remind you that June is Elder Financial Abuse month. Elder financial exploitation (EFE), a form of Elder Abuse, is the most common form of elder abuse. EFE is defined as the illegal or improper use of an elderly adult's funds, property or resources by another individual. Sadly, this exploitation is alive and well all year round.

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CECL: What About Credit Losses on Debt Securities?

6/14/2022

Since the initial roll-out of ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), much of the prevailing focus has been on accounting for expected credit losses in loan portfolios. As the CECL implementation date draws near for nonpublic business entities, we are starting to receive new questions about CECL’s impacts to securities portfolios as well.

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Supplementing Data Security Requirements Rule Phase 2Effective June 30, 2022

6/13/2022

Nacha’s Supplementing Data Security Requirements rule expands the existing ACH Security Framework to explicitly require large, non-financial institution Originators, Third-Party Service Providers and Third-Party Senders to protect account numbers (consumer and non-consumer) used in the initiation of ACH entries by rendering them unreadable when stored electronically.

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Webinar Materials: ODFIs - How Do You Keep Your ACH Clients Informed?

6/2/2022

Keeping your ACH clients informed is critical. In this webinar Senior Consultant Janice Weisz, AAP, will discuss the importance of educating ACH clients and will share tools and best practices to keep ACH clients informed of Nacha Rules and originator responsibilities.

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Webinar Materials: CFO Symposium Update

6/1/2022

Following the Florida Bankers Association’s annual CFO Symposium, the Saltmarsh Bank Advisors will be hosting a short update to recap hot topics including an industry overview, M&A, balance sheet strategies, ALM and more. 

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Computer-Security Incident Notification Requirements for Banking Organizations and Their Bank Service Providers

5/31/2022

As of May 1, 2022, banks must now notify their primary federal regulator within 36 hours of determining a "notification incident" has occurred, while a bank service provider is required to notify each affected bank "as soon as possible" if an incident is "reasonably likely" to cause a disruption for more than four hours.

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The Latest FDIC Consumer Compliance Supervisory HighlightsA must-read for Compliance Officers!

5/3/2022

The latest issue of the FDIC’s Consumer Compliance Supervisory Highlights details issues identified during the agency’s approximately 1,000 exams completed in 2021. It includes aggregate citations as they relate to Level 3 and Level 2 violations. Level 3 violations present the very highest level of concern and may well lead to formal enforcement actions. The most frequently cited violations, listed below, represent 78% of the total violations cited.

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