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Bank Insurance Update: Trends in D&O and Cyber


Bank insurance renewals have become anything but routine. Join us and Dennis Gustafson from @AHT Insurance on February 24th for a webinar on the metrics behind financial institution’s insurance; and review trends in the D&O claims environment and how they are moving the market.

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Webinar Materials: Cryptocurrency 101 - How & Why Bitcoin is the Future


Cryptocurrency is quickly integrating into the financial system, which increases the need for cryptocurrency solutions. In this webinar, we provide examples of how cryptocurrency solutions are integrated within everyday banking services with safety and compliance in mind.

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Crypto: Currency or Investment?A Perspectives Video from Dimensional Fund Advisors


In this video (from June 22, 2021) moderated by Regional Director Courtney Scott, Philipp Meyer-Brauns, PhD, Head of Investment Solutions Analytics and Vice President at Dimensional, discusses the volatility associated with bitcoin and evaluates whether the cryptocurrency has an expected return, can mitigate investment uncertainty, or could be used to meet short-term liquidity needs. He also analyzes the role bitcoin could play in investment portfolios.

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Webinar Materials: New Mortgage Servicing Rules


This timely webinar, presented by Sandford Shatz from McGlinchey Stafford, and hosted by our Financial Institution Advisory Group, will provide a brief overview of new mortgage servicing rules in federal law. Access webinar materials here.

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Cryptocurrency - It's Time to Acknowledge the Elephant in the Room


I never thought I would write about cryptocurrency, but with a current global market cap of $2.24 trillion, it doesn’t really matter what I might think about it anymore. There is simply too much money in this space to ignore it any longer.

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Takeaways: FDIC Industry Earnings Release Q2 2021


In case you haven’t already noticed, the Federal Deposit Insurance Corporation (FDIC) released the industry earnings for the second quarter of 2021 this week, and it was a mixed bag of news.

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Are You Ready for Nacha's Set of Meaningful Modernization Rules?


Nacha’s Meaningful Modernization consists of five new Rules, all of which become effective September 17, 2021. Nacha designed the Meaningful Modernization Rules to improve and simplify the ACH-user experience for businesses and customers.

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Nacha's Meaningful Modernization Rule 3 - Other Authorization Issues Rule


Effective September 17, 2021, in conjunction with the Standing Authorizations Rule and Oral Authorizations Rule, the Other Authorization Issues Rule includes other modifications and reorganizations of the general authorization rules for purposes of Clarity, Flexibility and Consistency.

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Nacha's Meaningful Modernization Rule 1 - Standing Authorization Rule


Originators that have, or want to use, a different model for ongoing commerce do not have specific rules for payments that are a hybrid, falling somewhere in between recurring and single entries. By defining a Standing Authorization, the Standing Authorization Rule will fill the gap between single and recurring payments and enable businesses and consumers to make more flexible payment arrangements for relationships that are ongoing in nature.


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Nacha's Meaningful Modernization Rule 4 - Alternative to Proof of Authorization Rule


Under the current Rules, an originator is required to provide proof of authorization to its ODFI in such time that the ODFI can respond to an RDFI request for proof of authorization within ten banking days. Some ODFIs and originators report that a “pain point” occurs when they provide proofs of authorization, but then debits are returned as unauthorized.

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Nacha's Meaningful Modernization Rule 5 - Written Statement of Unauthorized Debit via Electronic or Oral Methods Rule


The current Rules state that an RDFI is responsible for obtaining a consumer’s Written Statement of Unauthorized Debit (WSUD) prior to returning a debit as unauthorized. However, the current rules do not explicitly address electronically or orally provided WSUDs. Instead, the rules explicitly allow electronic records and electronic signatures generally, which has resulted in confusion about the electronic or oral acceptance of WSUDs. 

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Nacha's Meaningful Modernization Rule 2 - Oral Authorizations Rule


Currently, Nacha’s Rules do not provide oral authorizations of an ACH payment outside of a telephone call. Only the Telephone-Initiated Entry (TEL) Standard Entry Class Code (SEC) has requirements to address the risks specific to an oral authorization.  

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BankTech Bytes: The FFIEC's New AIO Handbook


This BankTech Bytes Newsletter discusses the FFIEC's New AIO Handbook. 

On June 30, 2021, the Federal Financial Institutions Examination Council (FFIEC) published the new Architecture, Infrastructure, and Operations (AIO) booklet, replacing the Operations booklet from July 2004. While this new booklet resembles its predecessor there are significant new themes to evaluate. 


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Have You Forgotten About the New Lease Standard?Effective Date for Non-Public Business Entities for Fiscal Years Beginning after December 15, 2021


The new leasing standard was supposed to be effective for non-public entities for fiscal years beginning after December 31, 2019. However, in June 2020, the FASB postponed the new lease standard implementation date for nonpublic companies to fiscal years starting after Dec. 15, 2021, after a 2019 decision to delay the effective date, as well.

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The Sky Is Not Falling... Yet


The U.S. Bureau of Labor Statistics recently announced the continued upward trend in inflation for June 2021, with the largest month-over-month gain in the consumer price index (CPI) in 13 years. Growth in the year-over-year measure of CPI also accelerated to 5.4%, and people are running around with their hair on fire!

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WEBINAR RECORDING: How to Approach Your FedLine Assessment for Banks


With an update to Operating Circular 5 on October 15, 2020, the Federal Reserve added requirements for an annual Assessment for all banks. This timely webinar presented by the Financial Institution Advisory Group will cover strategies for completing the annual assessment timely, effectively, and efficiently.

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Nacha's ACH Contact Registry Rule - Phase 2


Under Phase 2, on August 1, 2021, Nacha’s enforcement authority for the Automated Clearing House Network (ACH) Contact Registry Rule becomes effective. ACH participating DFIs that do not register their contact information with Nacha may be subject to a Rules enforcement proceeding and Class 2 violation fines.

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Asset Liability Management Modeling in a COVID-19 World


Throughout this COVID-19 pandemic, we have seen some unusual and unexpected Asset Liability Management (ALM) model results. Most notably, model results are showing lower Economic Value of Equity (EVE) values relative to base case book values than normal, created by the historically low levels of market interest rates. We have also observed cases where projected or actual asset growth rates are putting stress on regulatory capital ratios, creating a need to re-evaluate (and possibly lower) internal minimum capital target levels.

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WEBINAR MATERIALS: Nacha Operating Rules Update


The Nacha Operating Rules (Nacha Rules) direct how the ACH Network is operated.  As the payments industry continues to evolve, so do the Nacha Rules. Has your financial institution or business kept pace with the recent and upcoming Nacha Rule changes? Access webinar...

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The Evolution of Ransomware


As many people know, ransomware started by simply encrypting large amounts of victims’ data and holding the encryption key until the victim paid a ransom. The initial iterations of this were almost harmless, but as we look back, the genius involved is obvious. Read more! 

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The Excess Liquidity Puzzle


Liquidity: We’re up to our eyeballs in it. Over the last 12 months, financial institutions have experienced unprecedented levels of deposit growth driven by consumer and commercial government stimulus (PPP, stimulus checks, unemployment benefits, etc.), as well as elevated household savings rates resulting from stagnant economic activity and consumer flight-to-safety behavior.

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BankTech Bytes: The Evolution of Ransomware


This BankTech Bytes Newsletter discusses the evolution of ransomware and what it is today.

As many people know, ransomware started by simply encrypting large amounts of victims’ data and holding the encryption key until the victim paid a ransom. The initial iterations of this were almost harmless, but as we look back, the genius involved is obvious.  

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Nacha's Reversals Rule


Currently, the Nacha Rules define a limited number of permissible reasons for reversing entries; but, they do not explicitly address improper uses of reversals. Nacha’s Reversals Rule will explicitly address the improper uses and will expand the permissible reasons for a reversal to include an error in the entry effective date. 

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White House Unveils Plan to Help American Families Funded by Tax Increases on Wealthy


On April 28, 2021, the Biden administration unveiled a $1.8 trillion plan to provide assistance to middle- and low-income families that would be largely funded by tax increases on wealthy Americans. The plan is expected to be fleshed out during President Biden’s first address to a joint session of Congress scheduled for the evening of the announcement.

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Nacha's Supplementing Data Security Requirements Rule


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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