Abrigo

JANUARY 27, 2020

From the Bank Secrecy Act and anti-money laundering (BSA/AML) compliance, cybersecurity, credit risk, the implementation of the new standard for current expected credit losses (CECL), consider these goals for your credit union in 2020. . Spend your additional time to prepare for CECL wisely. Be proactive in cybersecurity controls.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit Risk 78

Abrigo

DECEMBER 20, 2021

T he CBOT enforcement action states that the bank failed to report hundreds of suspicious transactions to FinCEN even after the bank became aware that specific customer s were involved in criminal investigations. The AML Act of 2020 will more than likely overhaul the 2018 CDD rule with stricter beneficial ownership requirements.

CECL 78

CECL Transactions Credit Risk 78

Abrigo

JANUARY 19, 2022

Although they were up slightly in the third quarter from a record low, annualized net interest margins are nevertheless 25% below those in 2018. Meanwhile, the adoption of the current expected credit loss model, or CECL , is prompting a re-evaluation of credit risk spreads and how those will affect loan pricing and profitability.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78