Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. T he following best practices address the top AML concerns specific to credit unions.

Credit Unions 78

Credit Unions Trust Companies Transactions 78

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. You might also like this resource: "BSA/AML risk assessment checklist." READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment.

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Abrigo

FEBRUARY 9, 2023

Name screening for sanctions compliance Understand regulatory expectations surrounding name screening and the best lists for your risk-based AML program. Banks and credit unions must understand regulatory expectations around what lists to scan against and the importance of doing so. AML scanning What is name screening?

Credit Unions 78

Credit Unions 78

Abrigo

OCTOBER 10, 2023

How industry analysis can improve your credit risk management Understanding your customers' businesses leads to better loan pricing, structure, and risk management. You might also like this webinar series, "Tackling common credit risk questions during challenging times."

CECL 78

CECL Credit Risk Credit Unions Small Businesses 78

Abrigo

APRIL 25, 2023

Takeaway 2 Use these guidelines to decide what your institution's risk tolerance is and what to do to end a banking relationship with a repeat SAR customer. But when and how to end a banking relationship is a risk-based decision unique to each financial institution. Just ensure you check “Initial SAR” on the first page of the SAR form.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Takeaway 1 Engaging the bank or credit union loan workout team or an outside expert can help restore CRE loans in distress or mitigate their impact.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

AUGUST 2, 2023

CRE credit risk is in the spotlight A structured approach to assessing commercial real estate risk helps banks and credit unions address inquiries about the health of CRE loans. Takeaway 3 Financial institution management can focus on mitigating risk and understanding portfolio dynamics when the analysis is streamlined.

CECL 78

CECL Credit Risk Credit Unions 78

Abrigo

SEPTEMBER 7, 2023

Adapt to a dynamic banking environment with real-time lending & credit data Lender dashboards and reports showing the lending pipeline, pricing trends, emerging risks, workflow bottlenecks, etc. You might also like this on-demand webinar, "Identifying emerging CRE risks." help financial institutions adapt quickly to trends.

Dashboards 78

Dashboards Credit Unions Credit Risk CECL 78

Abrigo

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. In other words, the greater the risk, the more covenants matter. Where are loan covenants found?

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Abrigo

APRIL 7, 2022

Today’s financial marketplace is challenged by increasing regulation, high expectations for fast and mobile financial services, and new fintech companies joining the already competitive arena. One of the first steps of acquisition is spending time getting to the acquisition target’s credit quality and credit processes.

CECL 78

CECL Credit Unions Transactions Credit Risk 78

Abrigo

MAY 24, 2023

You might also like this whitepaper, "Cannabis and financial institutions: Providing services to cannabis-related businesses." If signed into law, the SAFE Act would allow banks to provide services to cannabis-related businesses (CRBs) in states that have passed the legalization of marijuana in some form.

Credit Unions 78

Credit Unions Law Firms Credit Risk Transactions 78

Abrigo

JUNE 3, 2021

Takeaway 2 While crypto crime fell in 2020, there are many risks financial institutions must be aware of. Takeaway 3 To fight cryptocurrency-related risks and mitigate losses, be vigilant and stay on top of fraud trends. By Hannakah Rubin, Risk Management Consultant at Abrigo. Risks ahead. Cybercriminals have caught on.

Cybersecurity 147

Cybersecurity Credit Unions 147

Abrigo

MAY 20, 2020

FinCEN issued an advisory on May 18, 2020 to alert financial institutions to medical scams related to the COVID-19 pandemic as well as new SAR key terms for reporting these scams. Your BSA software should be customized to fit your risk profile. Learn More.

Transactions 78

Transactions Electronic Funds Transfer Credit Risk 78

Abrigo

NOVEMBER 13, 2023

Streamline your annual review process Which loans need them, what processes to avoid, and how to save time working with borrowers' complex credit needs. Regulators expect financial institutions to develop loan review or credit review systems tailored to their specific risks and circumstances.

CECL 78

CECL Credit Risk Transactions 78

lsq

APRIL 4, 2023

I am proud to approve this transaction as this finance guarantee supports American suppliers in times where credit markets are volatile,” said EXIM President and Chair Reta Jo Lewis. About LSQ | lsq.com LSQ is a market leader and pioneer in working capital finance and payments solutions. Visit Huntington.com for more information.

Credit and Collections 98

Credit and Collections Transactions Small Businesses 98

Abrigo

SEPTEMBER 20, 2023

Join Abrigo for a webinar discussing risk assessments' role in compliance. Introduction The seriousness of 1st-party fraud In the financial services industry, fraud has stood as a grim monument to the enduring nature of financial deception. Let the Abrigo Advisory Services team help when you need it.

CECL 78

CECL Credit Unions Transactions Credit Risk 78

Abrigo

MAY 1, 2023

If you have knowledgeable staff, train them to take over some tasks such as quality control of alerts, training new employees and branch staff, or pieces of your risk assessment. Alleviate some of the workload by letting the Abrigo Advisory Services Team jump in and tackle what you don’t have time for.

Credit Unions 78

Credit Unions 78

Abrigo

AUGUST 7, 2023

Below are six measures institutions can take to protect AML programs against unanticipated risks associated with staffing changes: Conduct a staffing needs assessment Staffing should be part of a financial institution’s enterprise-wide risk assessment. We have your back.

Credit Unions 78

Credit Unions 78

Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." Watch webinar. Inflation, interest rates, hedging.

Credit Unions 78

Credit Unions Credit Risk CECL Credit Management 78

Abrigo

JULY 10, 2020

Community banks and credit unions partnered with their communities to help families and businesses through these unprecedented times , causing spikes in consumer fraud that must be faced head on. According to the new advisory , t wo fraud typologies are trending: imposter scams and money mule schemes. C&I Loans.

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Abrigo

NOVEMBER 11, 2021

In response to an increase in ransomware attacks, the latest FinCEN advisory shows the dynamic nature and criticality of ransomware threats. . On November 8, 2021, FinCEN issued a revised advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments. Ransomware poses a significant threat to FIs.

Transactions 78

Transactions Cybersecurity Credit Card Payments Credit Unions 78

Abrigo

NOVEMBER 11, 2021

In response to an increase in ransomware attacks, the latest FinCEN advisory shows the dynamic nature and criticality of ransomware threats. . On November 8, 2021, FinCEN issued a revised advisory on Ransomware and the Use of the Financial System to Facilitate Ransom Payments. Ransomware poses a significant threat to FIs.

Transactions 78

Transactions Cybersecurity Credit Card Payments Credit Unions 78

Abrigo

DECEMBER 13, 2019

A dynamic ALM approach provides an ongoing method for evaluating risk and return and for strategic decision-making. Outsourced advisory services can help financial institutions transition to a dynamic ALM approach. It’s important to be able to measure how those strategies may impact their interest rate risk measurements.”

Credit Unions 78

Credit Unions 78

Abrigo

APRIL 2, 2020

This sector of our population is at higher risk of serious complications including death if contracting COVID-19. According to Rachel Pourtnoy, Community Engagement Specialist with Adult Protective Services, elder financial exploitation is on the rise during this unprecedented health crisis.

Cybersecurity 134

Cybersecurity Transactions 134

Abrigo

AUGUST 22, 2022

You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." BAM+ fraud scenarios run over 30 scenarios to prevent lottery scams, including sudden check deposit activity, real-time deposited check fraud detection, and ACH credit amount spikes. Advisory Services. Learn More.

Cybersecurity 78

Cybersecurity CECL Transactions Credit Risk 78

Due

OCTOBER 27, 2023

Conduct primary research, consider your risk tolerance, and explore investment opportunities that align with your financial goals. Tracking and Monitoring Credit Scores Monitoring the credit score is essential for maintaining good financial health. Stay vigilant, pay bills on time, and manage your credit responsibly.

Credit Scoring 52

Credit Scoring Deductions 52

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Section 1071 section amended Reg B. What’s the purpose of reporting new data on small business loan applications?

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Abrigo

NOVEMBER 17, 2023

According to PWC , rising prices can have substantial implications on fraud risks. Fraud risk The three pillars Leaders within financial institutions are frequently tasked with understanding the full scope of fraud's impact. Regulatory risk Regulatory risk is yet another significant concern. financial s ystem.

Credit Unions 78

Credit Unions Cybersecurity Transactions 78

Abrigo

JUNE 19, 2020

The coronavirus pandemic has upended so many things and created uncertainty within the financial services industry. Credit risk operations, such as the allowance and stress testing, are not exempt. Phase 1 - The changes to risk are very general. Historical analysis will not reflect future risk or impact, Hammond added.

CECL 78

CECL Credit Risk 78

FICO Blog

DECEMBER 8, 2022

Addressing Portfolio Risk in Economic Uncertainty: Part 1 (2022). This four-part series looks at embedding portfolio risk resilience into decisions across the credit lifecycle through targeted application of the FICO ® Resilience Index. risk that only manifests during periods of economic stress) more precisely.

CECL 52

CECL Credit and Collections Credit Risk Default 52

RMAi Blog

MAY 12, 2023

However, both the House Financial Services Committee and the Senate Banking Committee have held hearings this past month on topics of interest. Nat’l Credit Sys. , Register now for our June 13th webinar on the topic of vendor and service provider controls. our staff will review and consider your courses for credit.

Collector 130

Collector Credit and Collections Law Firms Debt Collections 130

TreviPay

SEPTEMBER 15, 2023

The key is for business managers to find the right balance between maintaining sufficient liquidity and putting excess cash to work in a way that aligns with specific goals and risk tolerance. This is because it frees up cash for investments, which avoids debt service burdens and minimizes financial risk.

Electronic Funds Transfer 52

Electronic Funds Transfer Credit and Collections Days Sales Outstanding DSO 52

Abrigo

AUGUST 1, 2022

Best practices for assessing models and managing risk Sound model development, implementation, use, and validation is especially important as CECL models debut. . Takeaway 2 Even small banks or credit unions not regulated by the Federal Reserve are required to address control risks from models. Model governance overview.

CECL 78

CECL Credit Unions Credit Risk 78

Abrigo

MAY 30, 2023

Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union. At Abrigo’s recent ThinkBIG conference, hundreds of bank and credit union staff members attended information sessions on the issue. What is a covered transaction?

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Abrigo

JULY 30, 2020

Regulators will have elevated interest in credit risk and the resulting impact in the months ahead. Consider utilizing the same advisor for any stress testing or credit-focused capital planning as for estimating the allowance for loan and lease losses. Current environment = Challenging stressed capital planning.

CECL 99

CECL Credit Unions Credit Risk Default 99

Abrigo

SEPTEMBER 6, 2023

Takeaway 3 Combining the ability to recognize suspicious patterns and identify deviations from risk thresholds helps financial institutions detect and manage suspicious activity to prevent hard-dollar losses. AML professionals must constantly monitor for ways this could affect their customers or members.

Credit Unions 78

Credit Unions Transactions 78

Abrigo

JULY 25, 2022

As farmers adjust their credit needs in response, banks with a higher share of agricultural loan activity (“ag banks”) may see demand for loans increase,” Kansas City Fed economist Francisco Scott said in a recent research report. Department of Agriculture projects a 4.5% Now is the time for ag lenders to find talent.

Credit Risk 78

Credit Risk Credit Unions Small Businesses 78