Fortner Bayens, P.C. Banking Letter - February 2020 Edition

Regulation CC Revisions


Change is inevitable. Just ask the parent of a two-year-old. The latest change that Bankers will deal with is based upon inflation. The Board and the Bureau (Agencies) are amending Regulation CC, which implements the Expedited Funds Availability Act, to implement a statutory requirement in the Act to adjust the dollar amounts for inflation.  This rule is effective July 1, 2020. 

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Mobile Device Risk Management

Keith A. Ferguson, CISA, CISSP, CRISC

With mobile device usage in financial institutions as a communication method for banks, customer and personal information have become an additional source of risk to your organizations.  

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Loan Underwriting

Val Stark

When performing a loan review, one of the first documents to look for is the credit presentation/loan approval. A credit presentation should provide detailed information to an outside reader regarding the loan purpose, borrower’s background, sources of repayment, among others.

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IRS Changes the Rules on IRA RMD Notifications

Mark J. Corey, CPA, JD

The Internal Revenue Service (IRS) is changing the rules on when financial institutions must notify IRA accounts owners of their obligation to take a required minimum distribution (RMD) for 2020.

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