Articles

Recovery or Rebound?

September 23, 2020 - 9 min read

With a dramatic broad market recovery attracting significant press coverage in recent weeks, it’s worth noting that, technically, not all participants have truly recovered from the initial early-spring Covid-induced downdraft. Recall how devasting and swift that sell-off was:  it only took about six weeks for all major market indices to decline roughly 35%, recording the…

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LoanPricingPRO® On Demand

September 23, 2020 - 2 min read

Experience the power of LoanPricingPRO® only when you need it and without licensing the software. Submit the details of your deal, and the ProBank Austin LoanPricingPRO® experts will analyze your scenario. The model will be populated with institution specific assumptions based on recent regulatory filings. A sampling of these assumptions include credit loss expectations, product…

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ProBank Austin Advisor

September 22, 2020 - 1 min read

Weaker economic data last week calls into question the sustainability of the recovery. The stronger than expected economic data for August released in the first week of September was offset with weaker than expected data last week. The most disappointing number was retail sales. It was reported as having only increased by 0.6%. We had…

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Mutual Bank Quarterly Report

September 15, 2020 - 2 min read

Impact of Corona Virus Economy Emerges in 2Q Mutual Data As noted in last quarter’s mutual peer data report, the impact of the economic shutdown was unlikely to be revealed until at least the second or third quarter financial reports of mutuals throughout the nation, as well as in Ohio and the Midwest.  Balance sheets…

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ProBank Austin Advisor

September 14, 2020 - 1 min read

The FOMC meets this week and is expected to confirm the change in guidance announced last month. The rebound in economic activity is moving at a better pace than the output of goods. As a result, inflation is higher than at any time in the past ten years. The CPI increased by 0.4% in August…

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ProBank Austin Advisor

September 8, 2020 - 1 min read

The initial data for August is much better than anyone expected. The first look at August data was released last week and was much better than feared. The ISM Index reported another surge coming in at 56.0 for the month, up from 54.2 in July. This index had been below the expansion level of 50…

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Agencies Adjust Civil Money Penalties

September 3, 2020 - 1 min read

Earlier this year, the Federal agencies provided notice of their maximum civil money penalties as adjusted for inflation. All Federal agencies are required to make these adjustments annually by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended. The inflation adjustments serve to maintain the deterrent effect of civil penalties and to promote…

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CFPB Issues Annual Fair Lending Report

September 2, 2020 - 1 min read

On May 8, 2020, the Bureau of Consumer Financial Protection (Bureau) issued its eighth Fair Lending Report of the Bureau of Consumer Financial Protection. This report describes fair lending activities in innovation, outreach, prioritization, guidance and rule-making, supervision, and enforcement for calendar year 2019. Among other things, the report discusses: • No-Action Letters that the…

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FinCEN Issues Guidance Regarding Due Diligence Requirements for Hemp-Related Customers

September 1, 2020 - 1 min read

On June 29, 2020, the Financial Crimes Enforcement Network (FinCEN) issued guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp-related business customers. The guidance explains how financial institutions can conduct due diligence for hemp-related businesses, and identifies the type of information and documentation financial institutions can collect from hemp-related…

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ProBank Austin Advisor

August 31, 2020 - 1 min read

Fed Chairman Powell released a change in monetary policy strategy last week. The economic data released last week continued the pattern of the last three months. That pattern is a rebound in activity much better than forecasts have expected. The better than expected data included durable goods orders, personal income and spending and strong housing…

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Agencies Announce Tools to Help Institutions

August 31, 2020 - 3 min read

FFIEC – Federal Computational Tools On April 16, 2020, the Federal Financial Institutions Examination Council (FFIEC), on behalf of its member agencies, announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate (APR) Computational Tool and the Annual Percentage Yield (APY) Computational Tool. The FFIEC member agencies collaborated to develop the…

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