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Freed Maxick Service Delivery Update

We have implemented a phased approach for returning to our offices that allows us to modify our approach to service delivery as situations change without any service disruptions. In the meantime and in the interest of public health and the safety of our community, our teams will continue working remotely whenever possible to provide the same high-quality service you have come to expect. Utilizing state-of-the-art technology, we are committed to meeting all of your assurance, tax, and advisory needs to help you navigate a business environment filled with challenges and opportunities. To discuss a specific need that can’t be handled remotely, please contact your Freed Maxick representative directly.

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Topic: Covid 19 Financial Institutions

Joint Statement on Additional Loan Accommodations Related to COVID-19
By Bruce Rumbold, CCBCO on August 6, 2020

On August 3, 2020, the FFIEC issued a joint statement on additional loan accommodations for loans with accommodations that are expiring.  The statement reflects the opinion of the...

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PPP and Your FDIC Assessment
By Bruce Rumbold, CCBCO on May 13, 2020

The FDIC announced proposed rule-making yesterday to provide relief for potential increases in a bank’s FDIC deposit insurance assessment as a result of holding loans in the SBA’s Paycheck...

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Interim Final Rules for Bank Liquidity Coverage Ratios
By Bruce Rumbold, CCBCO on May 6, 2020

While we are all familiar with the Paycheck Protection Program (PPPLF - a loan facility created by the Federal Reserve under the CARES Act), the Federal Reserve Bank of Boston will...

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New Guidance Aims to Help Institutions and Consumers Navigate Mortgage Process Efficiently
By Bruce Rumbold, CCBCO on May 1, 2020

April 29, 2020 The CFPB has issued some new guidance surrounding mortgage originations. This guidance is designed to help both financial institutions and consumers get through the...

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Supervisory and Enforcement Practices Regarding the Fair Credit Reporting Act and Regulation C in Light of the CARES Act
By Freed Maxick on April 6, 2020

Consumer Financial Protection Bureau Guidance on Credit Reporting The Bureau’s statement informs lenders they must comply with...

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Counterparty Credit Risk and Current Expected Credit Losses (“CECL”)
By Freed Maxick on April 6, 2020

The federal bank regulatory agencies today announced two actions to support the U.S. economy and allow banking organizations...

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