Abrigo

JUNE 27, 2024

How does your AML program detect structured cash transactions? Takeaway 2 Put yourself in the customer’s shoes to identify why they might be performing transactions in a manner that reflects potential structuring. Following the passage of BSA, bad actors began structuring cash transactions to avoid the required reporting.

Transactions 88

Transactions CECL Credit Unions Credit Risk 88

Abrigo

MAY 2, 2024

Boost your small business lending efforts from the bottom up Small businesses play a crucial role in our economy, and one of the critical factors in their success is access to funding. You might also like this guide for smarter, faster small business lending.

Small Businesses 88

Small Businesses Credit Risk Credit Unions CECL 88

Abrigo

FEBRUARY 14, 2023

What to know about the CFPB 1071 rule affecting small business loans This post provides answers to some frequently asked questions about data requirements and other changes likely from the new rule. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

FEBRUARY 23, 2022

Loan Decisioning Allows Small Business Lending to Grow Community financial institutions can leverage automated loan underwriting to increase small business lending and achieve consistency. . Takeaway 1 Financial institutions are using small business loans as a source of growth and this trend will continue. .

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Abrigo

FEBRUARY 23, 2022

Making small business loans efficient and worthwhile Digitalizing the lending process can help financial institutions win small business loans and meet customers' needs. You might also like this webinar on small business lending best practices. Top problems in small business lending.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. You might also like this one-page summary of key dates and deadlines for complying with the 1071 rule.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Biz2X

NOVEMBER 5, 2024

Credit Loss Accounting for Banks In addition to routine reporting that is required at the close of any period, banks and credit unions must also calculate their allowance for loan and lease losses (ALLL) or Current Expected Credit Losses (CECL). Banks must set aside, and report, a cash reserve depending on the total calculated losses.

CECL 52

CECL Credit Unions Small Businesses Transactions 52