Pub. 11 2021-2022 Issue 6

Recent headlines regarding conservatorships, highlighting their negative consequences which can include overbearing administrators flexing too much power over long periods of time at high expense, can unjustifiably cloud the public perception of a similar process – receiverships. But such a rush to judgment would be a misstep when a receivership is tactfully deployed, in circumstances such as insolvency or other mismanagement. Here are six reasons why establishing a Rule 66 receivership can be a creative tool to achieve a best-case goal.

Commercial lending is a saturated and highly regulated field.

As if that were not enough, lenders often must fight not only their competitors but their own internal processes as well. A surprising number of commercial lending institutions continue to rely on outdated document collection methods such as paper forms, in-person meetings, Excel spreadsheets, and manual workflows.

Like many financial institutions nationwide, you probably have a considerable amount of charged-off loans from the last four years. Also, like many financial institutions, you might not know that your charged-off loans have value to a debt-buying company.

In its seventh annual survey, CSI asked banking executives from across the nation about their top strategies and priorities for 2022. The results were used to inform the 2022 Banking Priorities Executive Report, which details the challenges and opportunities in today’s financial landscape.

Preparing for 2023
Community banks have a 2023 deadline for CECL implementation, leaving limited time to refine their processes. This timeline will help plan the transition.

With inflation running hot, the Federal Reserve Board has recently begun accelerating its tapering program. In addition, the latest dot plot for the median federal funds rate shows that short-term interest rates could increase three times in 2022.

On March 31, the U.S. House of Representatives Financial Services Subcommittee held a hearing on possible government intervention regarding the future of overdraft programs. The hearing comes after an initiative announced by the CFPB to reduce “exploitative junk fees” and the highly publicized steps taken by big banks to eliminate or reduce overdraft fees.

Let’s face it: payroll is archaic. The current process for most W2 employees requires employees to work two weeks, wait an additional week for administrative tasks, and then finally get the money they earned almost a month ago.

The Biden Administration recently issued an executive order to coordinate efforts among federal agencies to create a national policy for digital assets. The order shows that these assets, including cryptocurrency, are here, and they’re here to stay.

Over the last year, banks and financial institutions faced higher than normal turnover, and compensation decisions continue to be crucial. As the economy changes during these uncertain times, employers are dealing with continued pressure on compensation levels.