-
Bank Call Report FAQ: When is a Loan a Real Estate Loan?
Bank regulators expect consistent loan reporting from institution to institution based on the call report guidelines, but it isn’t always easy. So in this blog series, we are going to address some frequently asked questions related to loan coding and reporting starting with a very basic question. What makes a loan a real estate loan?
-
Tax Planning Opportunity for 2018: Cash Basis for C Corporations
One of the tax planning opportunities available under the new tax law signed in December is the expansion of the cash basis of accounting for many more C Corporations starting in 2018, which can allow financial institutions to defer paying tax on their accrued interest receivable and other revenue.
-
CFPB Issues Mortgage Disclosure Amendment
On April 26, 2018, the Consumer Financial Protection Bureau (CFPB) issued a change to the “Know Before You Owe” mortgage disclosure rule involving the Closing Disclosure.
-
More Call Report Changes Coming in June 2018
Additional changes are coming to Form 041 and 051 of bank call reports in June 2018 including reductions in the frequency of reporting certain items, combining certain detailed line items, and modifications to reporting thresholds.
-
FFIEC Revises RESPA and Regulation Z Exam Procedures
On April 19th, the Federal Financial Institutions Examination Council (FFIEC) released Consumer Affairs Letter 18-3 announcing new examination procedures for Truth in Lending (Regulation Z) and the Real Estate Settlement Procedures Act (RESPA).
-
New Proposal Would Phase in CECL over 3 Years for Regulatory Capital Purposes
A new rule proposed Tuesday would offer banks the option to phase in the initial effect of the upcoming CECL standards on regulatory capital by allowing a three year transition provision.
-
Regulatory Capital Changes Impact March Call Reports
New call report change freezes certain risk weightings and transition adjustments at 2017 levels that were otherwise scheduled to increase this year. Some institutions, particularly those with large mortgage servicing portfolios, may find welcome relief from this new provision.
-
Call Report Change: Equity Investments
ASU 2016-01 changes how banks will account for equity investments. The March 2018 call report forms and instructions include various changes related to the implementation of this new standard.
-
FinCEN Issues FAQs on Customer Due Diligence Rules
On April 3rd, the Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions (FAQs) on the new Customer Due Diligence (CDD) requirements going into effect May 11, 2018. 37 questions are posed and answered in the FAQ.
-
Treatment of Charitable Contributions Post-Tax Reform May Impact S Corp Distributions
Fewer shareholders will be able to deduct their charitable contributions starting in 2018 so S Corporation’s may want to re-evaluate their tax distributions.