Banking


The Office of Thrift Supervision (OTS) says it is closely monitoring compliance with a new law, the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT) Act of 2001. In March the OTS provided savings institutions with guidance ( www.ots.treas.gov/docs/48896.pdf ) on complying with certain of the act’s provisions, which took effect in December, requiring financial institutions to produce—within 120 hours of regulators’ request—customer records or other documents necessary to fight money laundering.

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Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

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Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.