Board Briefs Archive

by Chris Couch, McGlinchey Boards frequently report anxiety around data security, and question whether their policies and procedures are sufficient. With the average direct cost of a security incident approaching $4 million and the indirect, reputational costs beyond calculation, it’s easy to understand why. ...Read More

by Richard T. Hills and Steffen Pelletier Arters, Waller In light of the recent publicity surrounding the announcement of the “merger of equals” between BB&T and SunTrust, the successful integration of the venerable southern institutions has been a topic of extensive conversation and speculation. ...Read More

by Fob James, Burr & Forman On Jan. 23, TechCrunch reported that more than 24 million mortgage and banking documents were left exposed on the internet in an unprotected environment for approximately two weeks. Ascension, which provides data analytics and document management services to ...Read More

by Jenny McCain, Maynard Cooper & Gale As your bank grows either organically or through a merger/acquisition, it’s important to make sure the internal operations, overall organizational structure and “governance” considerations grow with it. Banking organizations that have historically operated in the $100-$200 million ...Read More

By Charles R. Moore, Bradley On May 11, 2018, a new rule—commonly referred to as the Beneficial Ownership Rule—took effect to establish additional customer due diligence requirements for banks and other financial institutions. The Financial Crimes Enforcement Network (FinCEN) issued the rule under the ...Read More

by Chris Couch, McGlinchey Stafford Late last year the Office of the Comptroller of the Currency identified “concentration risk management” as a top supervisory concern for 2019. Subsequently, the Federal Reserve raised interest rates twice, the US economy witnessed the worst annual returns for ...Read More

by Terry Ammons, Porter Keadle Moore Risk management and cybersecurity are again top of mind for financial service providers heading into 2019. Recent data breaches at sizeable organizations have posed a significant question for these bankers: “Does our bank have the proper safeguards to ...Read More