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Posted: Feb 7, 2019
Categories: Consulting
Comments: 0
Author: Randy Daigle

CECL is One of Them

So, you can now breathe a little easier, just a little, with the Financial Accounting Standards Board (“FASB”) officially delaying Current Expected Credit Loss (“CECL”) implementation to fiscal years beginning after December 2021. Basically, the credit union will need to move from estimating Allowance Loan and Lease Losses (“ALLL”) based on averages of historical losses (that is, looking in the rear-view mirror) to developing future predictive models to estimate loan losses and to set loss reserves in 2022. This must be done for each individual loan booked, on the day the loan closes, and ongoing throughout the loan.

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Posted: Jan 31, 2019
Categories: Consulting
Comments: 0
Author: Lou Grilli

At a time of year when analysts and bloggers are posting their predictions for the year ahead, Trellance’s President & CEO, Tom Davis weighed in with his predictions for 2019 in two recent CU Today articles. Read them here and here.

His views are based, in part, on a survey conducted amongst Trellance members on the areas they will focus on and invest in for 2019.

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Posted: Dec 6, 2018
Categories: Regulations
Comments: 0

The Payments Review compliance feature occasionally highlights regulatory topics important to credit unions.

Federal regulators are reaching out and helping credit unions and community banks with a series of changes.


On October 3, 2018, Federal regulators ruled that credit unions and community banks can pool resources for anti-money laundering. The Wall Street Journal, citing a statement from the Federal Reserve, the Federal Deposit Insurance Corp., the Treasury Department, the Office of the Comptroller of the Currency and the National Credit Union Administration, reported that the decision was borne out of a working group that the agencies created to improve anti-money laundering processes. The decision is a more significant attempt to help strengthen money laundering defense in the US. However, the sharing of resources does not alleviate the responsibilities of the individual institution. It should also be noted that this does not change the existing legal and regulatory requirements. Additionally, if an institution decides to share resources, it should be done in the same manner as any other business relationship.

 

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Posted: Nov 14, 2018
Comments: 0

ThePaymentsReview compliance feature occasionally highlights regulatory topics important to credit unions

On October 17, 2018, Acting Director of the Bureau of Consumer Financial Protection (BCFP) (previously the Consumer Financial Protection Bureau - CFPB), Mick Mulvaney, announced at the Mortgage Bankers Association, that the Bureau has set out on an agenda to better define the term “Abusive” in the Unfair, Deceptive, and Abusive Acts or Practices (UDAAP).

 

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Posted: Nov 1, 2018
Comments: 0

Why Embracing Lifelong Learning Is The Best Gift You Can Give To Your Professional Self

[Editor’s Note: This article was previously published on CUInsight, and has been modified.]

During my recent presentation at Trellance’s Payments Academy, I spoke about the importance of embracing thought leadership in building a personal brand. I challenged the attendees to ask themselves, “What do I want to be known for?” This sparked a conversation among the presenters and attendees about what makes someone an expert. The consensus was that years of experience in your field is just one of the main ingredients in claiming expertise. The other essential component is the expert’s ability to remain relevant and knowledgeable on his/her area(s) of expertise in this ever-changing landscape.

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