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Financial Institutions

Top 3 Cyberattack Tactics on Financial Institutions

Top 3 Cyberattack Tactics on Financial Institutions

By Melissa DeDonder | August 26, 2021
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Reading Time: 2 minutes
It’s important for financial institutions to prevent, protect, deter, and educate on cyberattacks. First, you must know and address your vulnerabilities: Check and doublecheck for openings.  Implement security and manage system updates.  Educate employees on what to look for and how to react. There are three commonly reported areas for …

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Avoiding M&A Failure: More than a Numbers Game

Is a ‘Reg B Appraisal Notice’ Required when Applications are Denied or Withdrawn?

By Sandy Sporleder | July 19, 2021
Reading Time: 2 minutes
Regarding the Regulation B Appraisal Notice, we frequently get the question of whether it’s necessary if the application is denied or withdrawn.  Reg B {§ 1002.14} is not very clear on this issue; and you may think the answer is crazy.  I think we all know that sometimes regulations just …

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Biofuel Breaches Prove Worrisome, and Costly

Did you Know?: Your Bank’s Cyber Vulnerabilities may be Public Knowledge

By Sandy Sporleder | July 19, 2021
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Reading Time: 2 minutes
Did you know there might be information about your bank’s cyber vulnerability on the internet? Or that it’s common for a hacker to have access to a system months before an exploit? Or that ‘one password’ compromised is what brought down the entire Colonial pipeline recently? K·Coe’s cybersecurity consultants explain …

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Missouri Bankers Association

FASB Issues Goodwill Triggering Relief for Private & NFP Companies

By Sandy Sporleder | June 8, 2021
Reading Time: < 1 minute
Due to the time consuming, difficult, and often costly analysis involved in testing goodwill impairment of a triggering event, FASB has issued a new standard to provide an alternative evaluation for private and not-for-profit (NFP) companies. Private and NFP companies can now elect to perform a goodwill trigger event assessment …

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New Guidance for Leasing Standard Implementation

Accounting Standard Update: Delayed Effective Date and Its Effects on Leases

By K·Coe Editorial | April 16, 2021
Reading Time: 3 minutes
ASU 2016-02, Leases Update: FASB officially delayed the leasing standard effective date for non-public entities to December 15, 2021 (i.e., January 1, 2022). This standard may not only affect a bank’s balance sheet, but also the balance sheet of their customers. Overview of the ASU Lease Update Effects Effects on …

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Fraudulent Unemployment Claims

What to Do with Fraudulent Unemployment Claims and Receipt of a 1099-G

By Kerry Hatzenbuehler | February 25, 2021
Reading Time: 2 minutes
Scammers are taking advantage of the COVID-19 pandemic and states across the country are seeing an increase in reports of Fraudulent Unemployment Claims due to identity theft. It’s important to know what to do – as family members, employees, and customers may be looking for help after receiving notice that …

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