BC Financial Services Authority’s Post

Feeling overwhelmed by financial advice that seems too complex or out of reach? Jonah Dew simplifies the Infinite Banking Concept (IBC) so anyone can understand and implement it. He stresses that IBC isn't about having special knowledge or secrets, it's about applying straightforwardly. Whether you're hearing about IBC for the first time or revisiting the idea, this approach demystifies personal finance making it accessible to all. Start your journey towards financial clarity today! Explaining The Infinite Banking Concept To Communities with The Cash Compound https://brnw.ch/21wKbaa #WWBS #RichardCanfield #JaysonLowe #JeremiahDew #JonahDew #BeYourOwnBanker #InfiniteBanking #BankingBrosTips #FinancialLiteracy #WealthBuilding #NelsonNash #RethinkFinance #IBCClarity #FinanceHumor #SimplifyFinance #SimpleBanking #IBCPresentation #HouseFinance #PayItForward #LearnInfiniteBanking #SmartBanking #FinancialEducation

Feeling overwhelmed by financial advice that seems too complex or out of reach? Jonah Dew simplifies the Infinite Banking Concept (IBC) so anyone can understand and implement it. He stresses that IBC isn't about having special knowledge or secrets, it's about applying straightforwardly. Whether you're hearing about IBC for the first time or revisiting the idea, this approach demystifies personal finance making it accessible to all. Start your journey towards financial clarity today! Explaining The Infinite Banking Concept To Communities with The Cash Compound https://brnw.ch/21wKba9 #WWBS #RichardCanfield #JaysonLowe #JeremiahDew #JonahDew #BeYourOwnBanker #InfiniteBanking #BankingBrosTips #FinancialLiteracy #WealthBuilding #NelsonNash #RethinkFinance #IBCClarity #FinanceHumor #SimplifyFinance #SimpleBanking #IBCPresentation #HouseFinance #PayItForward #LearnInfiniteBanking #SmartBanking #FinancialEducation

Navigating loan classifications as current or non-current liabilities can be complex, especially with defaults and loan covenants. The MASB's amendments to MFRS 101 aim to provide clarity in these grey areas, helping businesses correctly classify their liabilities. Discover how these changes impact financial reporting and ensure compliance with the latest standards: https://bit.ly/3VKiCGk

The Consumer Financial Protection Bureau (CFPB) is requesting public comments as it prepares a proposed rule to address issues surrounding coerced debt and its impact on credit reporting. The initiative aims to amend certain provisions within Regulation V, which implements the Fair Credit Reporting Act (FCRA), to better protect consumers. #collections #identitytheft #CFPB #credit #creditreporting https://lnkd.in/e5sGYE7a

Voice Your Concern: How CFPB Proposals on NSF & Overdraft Fees Could Constrict Credit Union Revenue In an environment where regulatory changes are constant, the latest proposals from the Consumer Financial Protection Bureau (CFPB) have sparked significant concern within the credit union community. These proposals, focusing on nonsufficient funds (NSF) fees and overdraft programs, stand to dramatically alter the financial landscape for credit unions, potentially constricting a vital source of revenue. In our latest blog post, we’ll unpack these proposals, highlight their potential impacts, and share how we as an industry can, and should, present a united response. Read more at https://lnkd.in/gJj-snbz #C4CU #Compliance4CreditUnions #CFPB #creditunions

We are excited to share with you Global Commercial Credit's Q2 2024 Credit In-Depth Newsletter. Please follow the link to read the full Newsletter. https://lnkd.in/erp6CeVM We encourage you to reach out to us if you are interested in receiving future editions of our newsletter. #bankruptcy #creditrisk

BB's circular as on 27 November 2024 for loan classification & provisioning. It has been changed based on economic cycle, global dynamics, borrowers’ risk profile over time, and international best practice. Categories of CL: All the loans will be classified into following categories: (i) Standard-0 (STD-0) (ii) Standard-1 (STD-1) (iii) Standard-2 (STD-2) (iv) Special Mention Account (SMA) (v) Sub-Standard (SS) (vi) Doubtful (DF) (vii) Bad/Loss (B/L)

The Consumer Financial Protection Bureau (CFPB) has finalized a rule to limit overdraft fees for large financial institutions with over $10 billion in assets, effective October 1, 2025. Under the new regulation, these institutions must choose one of three options: cap overdraft fees at $5 per transaction, charge a fee that only covers their costs and losses, or continue charging higher fees while providing credit card-like disclosures to consumers. This rule aims to save American consumers an estimated $5 billion annually, or about $225 per household that pays overdraft fees. The CFPB's action is part of a broader effort to combat what the Biden administration calls "junk fees," although banking trade groups argue that overdraft protection is a valuable service and warn of potential negative consequences for consumers. https://lnkd.in/gUVHK9qD

📢 Attention Auto Finance Companies 📢 The CFPB's new Registry of Nonbank Covered Persons is here. Announced in June, the registry applies to covered nonbanks, including auto finance companies, and requires new registration and reporting obligations beginning in October 2024. Dive into our Executive Brief to understand the requirements and how to stay ahead of compliance challenges. Download the brief: https://hubs.ly/Q02LLYby0

On December 12, the Consumer Financial Protection Bureau (CFPB) finalized a rule designed to reshape the regulatory framework for overdraft credit provided by very large financial institutions. This highly anticipated rule amends Regulations E and Z, bringing overdraft programs more in line with traditional consumer credit products under the Truth in Lending Act (TILA). The rule seeks to enhance consumer protections, particularly for financially vulnerable populations, while holding large institutions accountable for fee practices that have long been a source of regulatory scrutiny.   Visit our website to read our recent client alert, “CFPB Finalizes Rule on Overdraft Credit – What Financial Institutions Need to Know,” authored by partners Benjamin Saul and Andrew Owens, and associate Tarrian L. Ellis, Esq.: https://lnkd.in/eKPsNGMJ