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Banker's Toolbox solidifies its position as the premier solution for fast-growing financial institutions with the release of BAM+ 4.0 upgrade.
Banker's Toolbox continues to lead the BSA/AML and Fraud prevention marketplace with the release of BAM+ 4.0. This solution provides increased detection with more versatility, transparency and control. BAM+ 4.0 also boasts a new customer due diligence platform, Due Diligence Manager, which will keep institutions compliant with the impending beneficial ownership mandates. (Read full press release here.)

FDIC FIL on Q4 Call Reports

The FDIC's first Financial Institution Letter of 2018, FIL-1-2018, includes materials and instructions for the Consolidated Reports of Condition and Income (Call Reports) for the December 31, 2017, report date. The agency requests that institutions complete as early as possible the preparation, editing, and review of their Call Report date and the submission of the data to their respective regulatory agencies' Central Data Repository. Except for certain institutions with foreign offices, completed Call Reports must be received by Tuesday, January 30, 2018.

From the FIL: "Institutions should note that Accounting Standards Codification Topic 740, Income Taxes, requires the tax effects of changes in tax laws or rates to be recognized in the period in which the law is enacted. Accordingly, the effects of the changes in tax laws and rates enacted on December 22, 2017, in the Tax Cuts and Jobs Act should be reflected in the Call Report for December 31, 2017. Because of the significance of these changes, the agencies plan to provide guidance to institutions that addresses the changes for purposes of the year-end 2017 Call Report in January 2018."

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