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The CECL standard has now been delayed for all but SEC reporting banks according to a new FASB vote, which will have a major impact on mid-sized and large banks but will be delayed until 2023 for others.
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New lending players have been supplying a large portion of the money in the lending ecosphere, in many cases overshadowing the contribution of banks. But with less regulation in this space, these nonbank finance companies are putting themselves at risk without proper strategies in place to protect themselves.
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With defaults low thanks to lower interest rates, distressed debt continues to dwindle. Now is the time for banks to sell before any turn in the economy.
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With LIBOR slated to be replaced by SOFR in a couple of years, many banks are concerned about the effects that the transition may have on their bottom line. That said, there are steps that banks should take to prepare for the change, including reassessing their loan portfolios.
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Heightened competition among fintechs and narrower margins as a result of low interest rates are prompting banks to focus their attention on fee income and liquidity.
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The CFPB's ability-to-repay rule was recently tested in court when an Ohio man sued his bank after facing foreclosure. The federal judge sided with the bank, which may discourage others from trying the same route in a last attempt to avoid foreclosure.
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Credit card issuers are increasingly selling pieces of their card portfolios. When done in an organized manner, credit card providers can find the right buyer and open up their loan portfolios to more profitable assets.
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