ARB | Albin, Randall and Bennett

Considerations for ALLL Calculations and Regulatory Updates Affecting Credit Unions

When the economy is stable and it’s “business as usual,” it’s reasonable to assume historical experience can be used in estimating future outcomes. Conversely, periods of instability can have a profound impact on things like loan collectability, delinquency, and risk. And 2020 has proven to be anything but a “stable” year.  A plethora of uncertainty

Read More...

FinCEN Issues BSA/AML Due Diligence Guidance for Hemp-Related Businesses

On June 29th, the Financial Crimes Enforcement Network (FinCEN) issued new guidance in an effort to expand the financial services available to hemp-related businesses and increase reporting transparency. The guidance clarifies the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements surrounding customer due diligence (CDD) for hemp-related businesses, and it explains Suspicious Activity Reporting (SAR) and

Read More...

USMCA Replaces NAFTA: Provisions Benefit Small Businesses, the Automotive Sector & Manufacturing Companies

For merchandise entered into commerce after July 1st, the North American Free Trade Agreement (NAFTA) rules no longer apply. After almost 27 years of trading under NAFTA, the U.S. Customs and Border Protection (CBP) has implemented the United States-Mexico-Canada Agreement (USMCA). The new trade legislation has largely had bipartisan support, with all in favor of

Read More...

Webinar: PPP Flexibility Act

Yet another change to the PPP loan program was signed into law on June 5th by President Trump, the Paycheck Protection Program Flexibility Act of 2020. Many borrowers have been focused on what’s best for loan forgiveness instead of what’s best for their business. Perhaps that’s an unintended consequence, but it appears this bill better

Read More...

AICPA Issues Accounting Guidance for PPP Loan Forgiveness

On June 10th, the AICPA issued Technical Question and Answer (TQA) 3200.18, Borrower Accounting for a Forgivable Loan Received Under the Small Business Administration Paycheck Protection Program. This guidance has been published to address accounting matters specific to Paycheck Protection Program (PPP) loan forgiveness for nongovernmental for-profit and nonprofit entities and to provide each with

Read More...
X