Abrigo

MAY 21, 2020

Key Takeaways The PPP forgiveness process is a major concern among community financial institutions, and many worry about having the resources to handle it. The PPP forgiveness process is a major concern among community financial institutions. PPP forgiveness will be more spread out vs. funding rush.

Credit Risk 78

Credit Risk Credit Unions Small Businesses 78

Abrigo

MARCH 15, 2022

Now a Common Offering. Now, many latecomers to this basic service are adding or improving their online or digital account opening capabilities as they recognize two major benefits. And now, many of those institutions are building on those efforts to make the process easier and faster.

Credit Unions 78

Credit Unions Credit Risk Small Businesses Transactions 78

Abrigo

OCTOBER 21, 2020

This post by Hayley Collier , Trepp's Marketing Communication Specialist, was originally published on Trepp's blog and can be found here. As McBride explained, the graph shows a relatively flat curve until March and April of this year, which is not surprising given that we started to see shutdowns at the end of February and into March.

Credit Risk 125

Credit Risk CECL Default 125

Abrigo

SEPTEMBER 20, 2023

register now Takeaway 1 1st-party fraud is especially disheartening because it is an inside job and indicates that KYC has been ineffective Takeaway 2 KYC procedures during onboarding and throughout the client relationship are keys to mitigating 1st-party fraud. Join Abrigo for a webinar discussing risk assessments' role in compliance.

CECL 78

CECL Credit Unions Transactions Credit Risk 78

Abrigo

OCTOBER 20, 2020

The banking industry has faced many challenges in 2020, from transitioning to CECL, managing Paycheck Protection Program loans, and navigating an unprecedented economic recession. It was a really important presentation to see what his forecasting was for CRE, and to better understand what’s going on across the country,” said Hatfield.

CECL 78

CECL Credit Risk Transactions 78

Abrigo

FEBRUARY 25, 2022

Cornerstone Advisors surveys have found that the percentage of community financial institution executives who see fintech companies like Square and PayPal, which offer business loans, as significant threats has increased from 36% in 2021 to 47% in 2022. It is the backbone of what many community financial institutions do, and they do it well.

Transactions 78

Transactions Credit Unions Credit Risk Small Businesses 78

Abrigo

OCTOBER 20, 2021

Takeaway 3 FIs should provide ample training and remain open to making adjustments along the way based on end users' feedback. What is the purpose of the new software? Executives should center their communication on the vision for the technology and what employees will gain from it. Communicate the purpose. Learn more.

Credit Risk 78

Credit Risk Credit Unions 78

Abrigo

JUNE 30, 2020

It has also required some operational changes that have been less than ideal. Even for BSA/AML staff at banks and credit unions using BSA or AML software , shifting work from the customary work environment has meant procedures and processes that have taken years, in some cases, to fine tune have had to be adjusted on the fly.

Credit Unions 78

Credit Unions Cybersecurity Credit Risk CECL 78

Abrigo

JUNE 19, 2020

Key Takeaways The unpredictability of the economy has created questions around reporting losses. The coronavirus pandemic has upended so many things and created uncertainty within the financial services industry. Now, “reasonable and supportable” has shifted. Save time on CECL calculation and documentation. learn more.

CECL 78

CECL Credit Risk 78

Abrigo

JANUARY 25, 2021

With so many conferences to choose from, what sets ThinkBIG apart? See everything ThinkBIG has to offer. La Cantera has taken many safety initiatives to ensure that guests can enjoy its luxurious amenities with peace of mind. ThinkBIG 2021 has something for everyone. Regular registration ends April 30. Learn More.

CECL 78

CECL Credit Risk 78

Pactola

APRIL 1, 2020

Most of my days this week are filled with calls from lenders and borrowers who do not know what to do about their business and what help is available. I am sure this is common thing that takes up most of the time throughout your days now. A new loan that will be backed by the SBA is the Paycheck Protection Program (PPP).

Credit Unions 40

Credit Unions Small Businesses 40

Lendio

JANUARY 30, 2023

Now, even though the economic impacts of the pandemic have subsided, business owners like you can still take advantage of this tax credit. General Overview Questions What Is The Employee Retention Credit (ERC)? What Exceptions Or Restrictions Should I be Aware Of In The ERC? A few other exceptions exist to the guidelines above.

Deductions 52

Deductions Small Businesses 52

Abrigo

MARCH 24, 2021

Here's what they're doing. While financial institutions are now largely flush with pandemic-related deposits, their path to increasing loans and profitability is uncertain given the economy. Now, they are focused on expanding those relationships. Would you like others articles like this in your inbox?

Credit Risk 88

Credit Risk Credit Unions Small Businesses 88

Abrigo

MARCH 29, 2023

Detecting PPP fraud after the program's end date BSA and fraud professionals saw a spike in fraud during the first two rounds of PPP funding. Takeaway 1 Prosecutors call PPP fraud the largest fraud in a generation. Takeaway 2 More than 15% of PPP loans were potentially fraudulent.

Cybersecurity 78

Cybersecurity Credit Unions Credit Risk Transactions 78

Abrigo

JANUARY 13, 2021

Takeaway 2 There are a lot of myths around what human trafficking, or modern slavery, actually is. . What is human trafficking? What guidance do financial institutions have? Stopping PPP Fraud. SBA Uses Do Not Pay List to Thwart Further PPP Fraud. DOWNLOAD/WATCH. at any given time. . Defining the Crime. Learn More.

Transactions 78

Transactions 78

Abrigo

APRIL 8, 2020

This portion of the CARES Act has been fulfilled by an Interim Final Rule (the Rule) from the SBA establish ing a Paycheck Protection Program (PPP) effective immediately that allows loans to small businesses for payroll purposes if they continue to pay their employees, among other requirements. .

Credit Unions 78

Credit Unions Credit and Collections Cybersecurity Small Businesses 78

Pactola

JUNE 8, 2020

By now, most of the readers of this blog will know the changes but it is good to first review what has NOT changed in the law. · The application deadline for PPP loans is still June 30, 2020 · The eligible amount to apply for is still 2.5x One thing to look for is a strong economic rebound.

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