In November, the Federal Financial Institutions Examination Council (FFIEC) issued a Joint Statement on Office of Foreign Assets Control (OFAC) cybersecurity sanctions. It warned that many entities sanctioned for malicious cyber activity claim to be [...]
In a perfect world, every business would be built to last forever, but that's simply not the way things go. Competition ebbs and flows, some industries flourish, some companies flounder. In the credit union world, [...]
Changes in the accounting and reporting of credit risk have been in the works since the financial crisis, but that doesn’t make adopting them a simple task. The Financial Accounting Standards Board (FASB) has [...]
by Henry Meier Well, it was 41 degrees and pouring in Pinehurst, North Carolina yesterday which means that if you were looking for an early season round of golf, you’d have been better off [...]
Law will require U.S. credit unions to conduct withholding and due diligence on some types of cross-border payments beginning in 2017 by. Michael S. Edwards, Vice President and Chief Counsel, World Council of Credit [...]
by Dominic Suszek KNOWING YOUR CUSTOMER is not just a regulatory requirement, it’s good business. The challenge of complying with customer due diligence regulations is far from over. A review of recent regulatory penalties [...]
BY MICHELLE A. SAMAAD Exercising due diligence can reveal problems that may change the nature of the merger or even lead to its cancellation. That is one of the findings from a new white paper [...]
