Bank Secrecy Act/Anti-Money Laundering
Mercadien Celebrates 60 Years of Serving Our Clients & Community
Princeton, NJ & Philadelphia, PA – Mercadien, a leading accounting and advisory firm in New Jersey, is proud to announce its 60th anniversary of providing exceptional accounting, tax and advisory services to clients across various industries, including private companies, financial institutions, government entities, nonprofit and human service organizations and individuals and families. Since its establishment…
Model Governance: How to Formalize the Program
As a small financial institution, you may not have formalized a comprehensive model risk governance program. Model governance refers to the framework and structure an institution establishes to oversee and manage its models effectively. Such a program is to be in accordance with the Office of the Comptroller of the Currency and Federal Reserve Bank…
10 Ways to Protect Your Institution During Uncertain Times
We’ve all read the shocking news of recent financial institution failures. We’re also well aware of quickly rising interest rates and volatility in the market. Regulatory scrutiny is coming, and your institution’s asset/liability and liquidity management (ALLM) processes will fall under more intense review. Are you ready for that? Let’s start by looking at how…
Uptick in False Claims & Fraud Could Spell Trouble for PPP Loan Recipients
Regulatory and enforcement actions are expected to increase in the foreseeable future as a result of the substantial number of businesses that applied for and received funds under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP). Recipients of the PPP loans should be mindful of the legal risks the borrowers and/or organization may face…
Mercadien Webinar Replay: Credit Risk Management During Uncertain Times
Jorge Olazagasti, MBA, Director & Melissa Correa, CRCM, Manager, of Mercadien’s Financial Institutions Services Group presented a webinar Credit Risk Management During Uncertain Times on Thursday, August 27th. During the webinar, they went over: The immediate impact of the pandemic on credit risk management Reviewing state specific lending initiatives How to monitor initiatives & delinquencies How…
SBA Issues Procedural Notice for PPP Lender Forgiveness Reviews & Submissions
On July 23rd, the Small Business Administration (SBA) issued the following Procedural Notice regarding the process which lenders must follow in their review of your Paycheck Protection Program (PPP) forgiveness application and how they will interface with the SBA to request reimbursement for loans that they approve for forgiveness. View the Procedural Notice here –…
Frank Pina Featured Guest on RVN TV’s Behind the Numbers
Frank Pina, CPA, CFF, CFE, CGMA, Managing Director with Mercadien’s Forensic & Litigation Support Services Group, was a featured guest on RVN TV’s Behind the Numbers with host Dave Bookbinder. The two discussed how organizations can identify fraud & what to do once fraud is detected. To view the full interview click here. For more information…
Mercadien Webinar Replay: OCC’s Final CRA Rule – What You Need to Know
On Wednesday, June 24th Mercadien’s Financial Institutions Services Group hosted a one-of-a-kind presentation featuring the nation’s leading Community Reinvestment Act expert, Kenneth H. Thomas, Ph.D., author of The CRA Handbook and former finance lecturer at The Wharton School of Business, who addressed the OCC’s Final CRA rule, and what it means for banks and their…
The Main Street Lending Program: An Alternative to the PPP
The lender portal for the Federal Reserve’s Main Street Lending Program (MSLP) has opened as the alternative to the Paycheck Protection Program (PPP). Unlike the PPP, the Main Street Lending Program’s loans are not forgivable, although they are at low interest rates. The program is being offered through the Federal Reserve rather than the SBA…
Contact Us for PPP Loan Forgiveness Processing Assistance
Mercadien is ready to assist you in facilitating the CARES Act Paycheck Protection Program (PPP) loan forgiveness processing. The SBA stated that Lenders are expected to perform a good-faith review, in a reasonable time, of the borrower’s calculations and supporting documents concerning amounts eligible for loan forgiveness. If the lender identifies errors in the borrower’s…