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Webinar: The New ACH Rules on Micro-EntriesJuly 21, 2022 - GoToWebinar (1:00 PM CST/2:00 PM EST)


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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Elder Financial Exploitation by the Numbers


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?


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


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?


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


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


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!


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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Webinar Materials: The Cannabis Banking Landscape


As the number of states with legalized marijuana or USDA-approved hemp programs increase, so does interest and concern around providing financial services to the industry.

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Unrealized Losses in Securities Portfolios: Can We Stop the Bleeding?


Over the last three months, unrealized losses in available-for-sale (AFS) securities portfolios have accelerated at a staggering rate. 

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Nacha's WEB Debit Account Validation Rule


Nacha’s WEB Debit Account Validation Rule requires ACH originators of WEB debit entries to implement a commercially reasonable method to determine that the account number to be used for a WEB debit entry is for a valid account. This means the account to be debited is a legitimate, open account to which ACH entries may be posted at the receiving depository financial institution. The requirement applies to the first use of an account number or changes to the account number.

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Webinar Recording: Trends in D&O and Cyber


Webinar recording. Bank insurance renewals have become anything but routine. Dennis Gustafson from AHT Insurance joins us for a webinar on the metrics behind financial institutions’ insurance; and review trends in the D&O claims environment and how they are moving the market.

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ODFI Responsibility to Keep its ACH Clients Informed of Nacha Rules


Nacha Rules state that ODFI’s are responsible for all entries originated through the ACH Network using the ODFI’s routing number and that ODFI’s are responsible for their ACH clients' compliance with the Nacha Rules. In addition, because the payments industry is constantly evolving, ODFI’s need to keep their ACH clients informed of Nacha Rule changes. Therefore, ODFI’s should have a formalized process to keep their ACH clients informed of Nacha Rules and originator responsibilities.  

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BankTech Bytes: Elevate your Third-Party Risk Management Program


This BankTech Bytes Newsletter discusses considerations for elevating your Third-Party Risk Management Program. Vendor Management, which is now trendily known as Third-Party Risk Management (TPRM), continues to get increasing regulatory attention as it should. Most of us in the banking space these days are increasingly outsourcing key operations to third parties.

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Nacha Increasing the Same Day ACH Dollar Limit to $1 Million


The Nacha Rules continue to expand the capabilities of Same Day ACH. Effective March 18, 2022, the Nacha Rules will increase the Same Day ACH per-transaction dollar limit from $100,000 to $1,000,000. This new limit will apply to all eligible Same Day ACH payments, including credits and debits for both businesses and consumers. The $1 million limit will be beneficial for many types of payments, i.e., insurance claim payments, payroll funding, business-to-business payments, tax payments and many more.

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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 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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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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