Pub. 15 2020-21 Issue 6

Before the COVID-19 pandemic took hold on the world and the United States, many community bankers watched the slow fall of their on-balance sheet liquidity. Throughout the last decade of economic expansion, many community banks’ loan demand consistently outpaced deposit growth. At the beginning of 2020, bankers’ expectations for the year were for more of the same: a combination of steady loan growth and an expanding net interest margin. The pandemic completely changed those expectations.

On Jan. 1, 2021, the Senate voted to override President Trump’s veto on the National Defense Authorization Act (NDAA or Act). It was previously overridden by the House back on Dec. 28, 2020. The NDAA included over 200 pages of significant reforms to the Bank Secrecy Act (BSA) and other anti-money laundering (AML) laws putting forth the most comprehensive set of BSA/AML reforms since the USA PATRIOT Act of 2001. The continuing question is, what are the implications of this Act? How will this impact not only financial institutions but also U.S. companies and companies doing business in the United States at large?

While most organizations think through the direct risk of cyber threats to their business via cyber attacks, known vulnerabilities, and security flaws, not many organizations recognize the risk posed by their customers.

When a person dies while indebted and estate
assets appear insufficient to pay all the debts, lenders may want to look carefully at the probate process. There are options and tools available to help collect at least a portion of the debt, even if the estate appears to be insolvent. This article will highlight some basic concepts involved in collecting from an insolvent probate estate.

Throughout the pandemic, the U.S. economy has been tested like never before and has more than proven its resilience. That’s thanks in no small part to our large and diverse financial system: a network of financial institutions of all sizes, charters and business models dedicated to providing the products and services that consumers and businesses need to thrive.

NBA Friends:
A common frustration shared by our members regardless of their size, geography, or business model is complying with the ever-growing rules and regulations imposed by various regulatory agencies.