Insights

CECL adopters vs. non-adopters: Comparing ALLL to loans

In part two of our planned multi-part series, we continue to follow the migration of the allowance for loan and lease losses (ALLL) for banks that have adopted Accounting Standards Codification (ASC) 326 – Financial Instruments – Credit Losses (CECL) compared to non-adopters, as well as the impact of the COVID-19 pandemic on loan loss provisioning.

9/18/20
By: John Erwin
Industries: Financial Institutions

What triggering terms activate rules in financial institution advertising

With more people interacting with financial institutions online, there is an opportunity for more online advertising.

Online advertising can be an effective way to communicate quickly with current customers and members — and also potential customers and members. But financial institutions have to ensure their ads follow the applicable regulations, such as Regulation B, Regulation Z, Regulation DD, Fair Housing Act.

9/17/20
By: Amanda L. Knudsen
Industries: Financial Institutions

4 reasons why right now is the best time to gift your business

Gifting stock in a closely held business is often a good technique to transfer assets out of someone’s estate if they are concerned it will be subject to estate taxes in the future.

9/17/20
By: Audra M. Moncur
Services: Business Valuations, M&A and Transaction Support

NACHA rules for WEB debit entries

As the volume of interactions and transactions between financial institutions and clients continues shifting toward an electronic environment, financial institutions should expect commercial clients to seek convenient, electronic methods of doing business with their customer base.

9/16/20
Industries: Financial Institutions

FinCEN guidance on hemp-related customers

On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) issued long-awaited guidance to assist financial institutions with navigating the customer due diligence (CDD) requirements for banking hemp-related customers.

9/15/20
By: Robin Guthridge
Industries: Financial Institutions

A trap for the unwary in the CARES Act ‘retail glitch’ fix

When the CARES Act provided a technical correction for the so-called “retail glitch” in the Tax Cuts and Jobs Act, it also created a trap that could cause taxpayers to permanently lose future qualified improvement property (QIP) depreciation deductions.

9/8/20
By: Brianna N. Komppa
Industries: Construction and Real Estate
Services: Tax

How cash flow planning can help your business grow

Back in March, was your business able to predict what your cash flow would look like right now in September? Do you know what your cash flow will look like in another six months?

As businesses continue to navigate cash-flow concerns, the COVID-19 pandemic has only highlighted the importance of Financial Planning and Analysis (FP&A).

9/4/20
By: Tony Cantor
Services: Audit and Accounting

How to design human-centered digital products from the start

In the U.S., it’s estimated that roughly 80% of the total population — that’s more than 260 million people — use a smartphone. Unsurprisingly, consumer behavior and preference toward mobile has evolved — rather rapidly — from skepticism to total reliance.

9/4/20
Industries: Technology Industry
Services: Tech Consulting, Consulting