Thu.Nov 14, 2024

article thumbnail

ADC Attends The 2024 Genius Network Annual Event

Accounting Department

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

94
article thumbnail

How to avoid costly BSA enforcement actions: Proactive steps for bank compliance

Abrigo

Be proactive with your AML/CFT program to prevent BSA enforcement actions As regulatory scrutiny intensifies, financial institutions face more frequent Bank Secrecy Act (BSA) enforcement actions from supervisory agencies. These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Four California care homes in breach for shortchanging $863K from staff 

Due

The U.S. Department of Labor’s Wage and Hour Division found four California care homes breaching labor laws and shortchanging staff of $863K. The government employment watchdogs recovered $863,860 in back wages and damages for 58 workers employed by four residential care providers in California. A Wage and Hours investigation found these employers guilty of denying them minimum wage, overtime, or both and violating the provisions of the Fair Labor Standards Act.

article thumbnail

Unlocking Growth with Data-informed Financing

Team Financial Group

The road to sustainable business growth is paved with good incremental decisions. It is rare for a business to have all the resources needed to make all the improvements they want at one time. Many improvements require substantial financial investments in equipment or infrastructure, making tiny steps more affordable than giant leaps. The key is choosing steps that are both sustainable and provide greater returns on investment, accelerating the path toward future growth.

article thumbnail

What Happens to My Retirement Accounts in Bankruptcy?

Due

As a last resort, many people file for bankruptcy when they are faced with overwhelming debt. In fact, 486,613 people filed for bankruptcy in 2024 — up 16.2% from the previous year. In addition to 464,553 filings by non-business entities, 22,060 are filings by business entities. However, those nearing retirement or with significant savings wonder how bankruptcy will affect their retirement accounts.

article thumbnail

What is an EFT payment?

Chaser

An Electronic Funds Transfer (EFT) payment is a payment option with unparalleled convenience, efficiency, and versatility for bill payments, online purchases, payroll deposits, and account transfers. Processing times vary, with options like wire transfers for same-day delivery.

More Trending

article thumbnail

Reverse factoring in Supply Chain Finance: A strategic tool for financial services providers

aptic

What is reverse factoring? Reverse factoring is a financing solution that allows suppliers to receive early payments on approved invoices from a buyer, typically through a financial intermediary (the factor), at a lower interest rate based on the buyer’s credit rating. This process enables suppliers to access immediate cash flow while allowing buyers to defer payment until the invoice’s maturity date.

article thumbnail

Why Your In-House Accounting Team Might Not Be Enough—And How We Can Help

blue dot counseling

When businesses grow they often outpace their finance function creating an urgent need to improve business accounting. The post Why Your In-House Accounting Team Might Not Be Enough—And How We Can Help appeared first on Blue Dot Consulting.

40
article thumbnail

Bitcoin’s $100,000 Target: A Cautionary Tale for Crypto Investors

Due

As Bitcoin continues its upward trajectory, many investors have set their sights on the coveted $100,000 mark as their exit point. However, this widely anticipated milestone may not be the ideal selling point that many believe it to be. A closer examination of market dynamics and investor behavior suggests that those waiting for Bitcoin to reach $100,000 before selling might want to reconsider their strategy.

40