By: Sharon Geiger, Quality Control Review Specialist
I realize this article is coming out a little late, however, for those banks that are not yet prepared, you still have time to show the regulators that you have prepared for the December 31, 2012 expiration.
While there is still a small chance that the regulatory agencies will choose to extend the Insurance program as it pertains to Non-Interest Bearing Transaction Accounts (NIBTA), we are getting closer to the December 31, 2012 expiration date with no word on any extension.
Therefore, what are Banks going to have to do to be in compliance? Well, here’s a list of how to be prepared should the rule expire.
Quality Control Specialist
Sharon Geiger, Quality Control Specialist Sharon has 27 years banking experience, 21 of which have been involved in internal audit. She has extensive knowledge of all aspects of the banking industry, with a particular emphasis on regulatory compliance and identifying risks and controls. As QCR Specialist, she performs Quality Control Reviews to ensure all workpapers and reports are completed in compliance with the firm's standards.