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News Archive
Our news covers industry topics relevant to financial institutions.
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Tom Danielson Joins LarsonAllen as a Financial Institutions Principal
"Tom's 25 years of providing quality service to the community banking industry is a great addition to our team. His expertise in mergers and acquisitions, credit review, and forensic services will add value, depth, and additional resources to our clients," says Jerry Felicelli, LarsonAllen's principal-in-charge of financial institutions." More
LarsonAllen Wins National Hacker Competition
Led by Jerry Odegaard, Brian Johnson, and Randy Romes, LarsonAllen’s team won this year’s hacker challenge at the National Association of Federal Credit Union’s Technology and Security Conference. LasVegasNow reported on LarsonAllen's success and the ease with which they hacked into the simulated networks. Although it was a game, it vividly demonstrated the crucial importance of securing information systems.
New Ruling Provides Additional Guidance on Completing CTRs
According to a recent Financial Crimes Enforcement Network (FinCEN) ruling, when filing a currency transaction report (CTR) involving a sole proprietorship or a legal entity operating under a "doing business as" (DBA), financial institutions are now only required to complete one Section A. More
Financial Institutions Will Benefit From Fed’s Final Ruling on Electronic Disclosures
In November, the Federal Reserve System’s Board of Governors adopted amendments to five consumer financial services and fair lending regulations. The long-awaited final action clarifies the electronic disclosure requirements, which will make it easier for financial institutions to offer this service to their customers and remain in compliance. The final rules went into effect on December 10, 2007. More
Work Opportunity Tax Credits Available
To offer additional tax incentives for economically distressed communities, congress expanded and extended the Work Opportunity Tax Credit (WOTC). According to the IRS announcement, approximately $11 billion is now available in tax credits. More
The Evolution of Depositing a Check
by Nicole Schumacher
Over the last five years, financial institutions have placed an increased emphasis on automating banking. Remote deposit capture (RDC) is the most recent innovative service bankers can offer their customers. More
A Tale of Internal Control—Guidance for Small Companies
by Lisa Stark
When properly designed and consistently enforced, a sound system
of internal controls aids management in safeguarding the company's
resources and provides reliable financial reports. More
Hacker Heists Threaten Banks
LarsonAllen's Randy Romes appeared as an information security professional in a WCCO news story that also featured a cameo appearance by LarsonAllen alum Nichol Beckstrand of Sunrise Community Banks. More
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