Banking


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The Federal Financial Institutions Examination Council (FFIEC) proposed guidance to help insured depository institutions improve their disclosure to customers with overdraft protection accounts ( www.fdic.gov/news ). The proposal explains how banks can reduce their credit and reputational risk by educating customers to use such accounts more effectively. Comments are due August 6, 2004. The council ( www.ffiec.gov ) comprises the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of the Comptroller of the Currency and the Office of Thrift Supervision.

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.