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Bank Advisory - FDIC Second Quarter Results
August 27, 2008
The Federal Deposit Insurance Corporation reported on Aug. 26 that the U.S. banking industry's profits fell 87 percent during this year's second quarter, largely due to a 341 percent increase in loan loss provisions.
Bank Advisory - Fed Beige Book Provides Details on Slowdown
July 24, 2008
In its Beige Book report released on July 23 the Federal Reserve Board said economic activity slowed during June and the first half of July nationally and in its Atlanta District, which includes Florida.
Bank Advisory - FinCEN Announces New BSA Filing Program
July 23, 2008
The Financial Crimes Enforcement Network (FinCEN) announced on July 21 that it intends to retire its Bank Secrecy Act Magnetic Media Filing Program, and that magnetic media filers must transition to BSA Electronic (E-Filing) by December 31, 2008.
Bank Advisory - Fed Approves Mortgage Lending Rule
July 15, 2008
The Federal Reserve Board on Monday approved a final rule that prohibits certain unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. The final rule also establishes advertising standards and requires certain mortgage disclosures to be given to consumers earlier in a transaction.
Bank Advisory - Fed Leaves Fed Funds Rate Unchanged
June 25, 2008
The Federal Reserve Board's Open Market Committee on June 25 decided to leave its Federal Funds Rate target at 2.00 percent. The committee approved that decision, 9-1, with Richard Fisher, President of the Federal Reserve Bank of Dallas as the lone dissenter.
Bank Advisory - Federal Reserve calls Atlanta District economy "generally weak"
June 24, 2008
The Federal Reserve on June 11 reported that economic activity remained generally weak in late April and in May in its Atlanta District, which includes Florida.
Bank Advisory - Fed and FTC Issue Proposed Rules on Risk-Based Pricing
June 13, 2008
The Federal Reserve Board and the Federal Trade Commission have issued proposed rules with requirements for creditors to issue risk-based pricing notices to consumers.
Bank Advisory - FDIC Quarterly Banking Profile
May 29, 2008
The U.S. banking industry's profits fell 46 percent during this year's first quarter, primarily due to higher provisions for loan losses, according to a new report from the Federal Deposit Insurance Corp.
Bank Advisory - Senior Financial Officer Survey
May 13, 2008
In a new Federal Reserve report, a majority of banks said they tightened lending standards in April on commercial real estate loans, commercial and industrial (C&I) loans and residential mortgages.
IRS Provides Guidance on LIFO Pools for Light-Duty Trucks and Crossover Vehicles
March 14, 2008
For years, resellers of automobiles using the Alternative Dollar-Value LIFO (Last In, First Out) method or the Used Vehicle Alternative LIFO method have faced uncertainty regarding the correct LIFO pool for crossover vehicles, including sport utility vehicles (SUV’s), minivans, vans and other similar vehicles. The determination of the correct pool can have a significant impact on the LIFO computation.
Economic Stimulus Act of 2008 - Special Issue
February 2008
Detailed discussion of the Economic Stimulus package by CPAmerica International Tax Watch. Recovery rebates, enhanced child tax credit, income limitations, rebate checks, special depreciation allowance for certain property,bonus depreciation.
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