June 28, 2021

If there was a gold medal for financial services, lenders earned it in 2020 and 2021.

The rollout of the Paycheck Protection Program’s (PPP), its associated changes, the next tranche of PPP, and the next, and now forgiveness (not to mention bankers’ work with some existing business borrowers to modify loans under government programs), has kept staff at banks swamped for more than a year. These factors, most likely, have also kept most lenders deep inside their loan origination systems more intensely than at any other time in their history.

The FASB’s new credit loss model is one of the most significant accounting changes in recent history. The time to act is now — here is how you can prepare and comply.

While they may vary somewhat from one forms vendor to another, the following terms and definitions describe the different roles with Coverdell education savings accounts (ESAs).

We have been dealing with the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE
Act) since 2010. Still, questions
surface or confusion exists over SAFE Act requirements.

Digital banking trends have accelerated due to the pandemic, and many institutions have pivoted toward digital transformation. But in the digital lending space, slow-moving institutions still face a disadvantage.

Experts predict a continuing rise in bankruptcy filings as COVID-related debt relief expires. This article intends to provide creditors with a brief bankruptcy overview, including the most common types of bankruptcy cases, to enable them to participate more confidently in the bankruptcy process. Of course, bankruptcy is complex and each case is uniquely nuanced. Creditors should contact a bankruptcy attorney for assistance in responding to specific bankruptcy filings.

I have some good news for community bank portfolio managers who have grown weary of some or all the following conditions that have persisted since 2020:

When I transitioned from a community bank CEO to ICBA president and CEO, my team gave me a beautiful handmade card with notes and best wishes. On the front is a favorite quote of mine from French writer Anatole France: “To accomplish great things, we must not only act, but also dream; not only plan, but also believe.” To this day, the card sits on my desk.