Bank Wire – Growing pains: What if your bank’s assets cross the $500 million and $1 billion thresholds?

Description

Abstract: This summary of recent developments in banking looks at the Federal Deposit Insurance Corporation Improvement Act rules for banks with assets between $500 million and $1 billion, including the fact that such banks must provide audited comparative financial statements to the relevant federal regulator and comply with stricter auditor independence standards. The article also discusses whether marijuana businesses can provide opportunities for community banks, and lists some red flags for possible disaster-relief fraud.