Trusted guidance in a changing landscape.

New accounting standards and significant regulatory changes have fundamentally altered the ways in which financial institutions do business. An increase in state and federal oversight and the associated costs have also changed the environment in which financial institutions operate.

TMO’s Financial Institutions and Specialty Finance Practice understands these complex regulations and their business implications, and helps industry leaders adapt to this changing landscape.

In an era of change marked by increased competition, regulatory pressure, and significant consolidation, TMO’s advisors possess the knowledge and experience necessary to guide financial services companies through complexity. TMO advisors provide insight on financial reporting and disclosure requirements, regulatory filings, capital raises, debt and loan restructurings, and derivatives.

Consolidation: opportunities and heightened scrutiny.

Increasing competition and regulatory burden have resulted in a trend toward consolidation in the banking industry. More than ever, financial institutions require advisors with the knowledge and experience necessary to guide them through the opportunities, the obstacles, and the many complexities associated with mergers and acquisitions.

TMO helps clients navigate these industry dynamics, including regulatory compliance, raising capital, loan restructurings, purchase accounting, and mergers and acquisitions. Our professionals possess deep experience working with a variety of banks in addressing challenges and identifying opportunities.

Our industry leaders remain at the forefront of the conversation, whether by working in the field with clients, participating on regulatory committees, authoring articles on the latest regulations, or speaking at industry conferences.

Paycheck Protection Program Loan Forgiveness Digital Platform

Banks and other lenders with a significant number of Paycheck Protection Program (PPP) loans may need assistance when their customers seek loan forgiveness.

Using insights gained from working with our clients who received PPP loans, we understand the challenges associated with reviewing many customer loan forgiveness requests, including sensitive and confidential disbursements. By combining our recent client experiences with our knowledge in federal tax compliance, application development, and data analytics, we can help lenders and their customers execute loan forgiveness procedures.

BDO has developed a proprietary digital platform and phased approach to implementation of the lender’s loan forgiveness process that is responsive, adaptive, innovative, and reliable. The platform includes:

Customer Loan Forgiveness Portal Development
Development of a lender-sponsored customer portal to allow loan holders to supply the necessary information for the PPP loan to be considered for forgiveness.

Data Analytics and Dashboard Reporting
An integrated, digital platform for reviewing and processing submissions, including a set of dashboards to show the review process, progress, exceptions, and results in real time.

Data Review and Loan Forgiveness Calculations
Based on the input fields, calculation of the expected forgiveness amount. BDO professionals will conduct a good-faith review of documentation provided by the loan holder to determine adequacy for loan forgiveness.

Post-crisis regulations transform the marketplace.

Mortgage lenders continue to feel pressure from the widespread reforms following the financial crisis. Regulatory changes, including increasingly strict CFPB regulations, are transforming the commercial and personal mortgage landscape.

TMO works with a wide range of banks and mortgage lenders, private equity, and venture capital firms, as well as warehouse lenders. We help clients overcome issues and identify opportunities in an increasingly challenging environment. In addition, our professionals have worked closely with the Office of Mortgage Settlement Oversight and maintain a deep knowledge of current guidelines and regulations.

Leveraging an extensive international accounting and consulting network, we provide hands-on client service and real-time guidance on the latest accounting issues, wherever our clients do business. Whether audit, taxation, or consulting services, TMO delivers a tailored service approach to help clients navigate today’s complex financial marketplace.

Adapting to new technologies – and new regulations.

Technology is transforming the way in which financial service providers operate. Financial institutions, credit card issuers, subprime mortgage companies, consumer lenders, mortgage servicers, consumer finance companies, and asset based lenders (among others) continue to move their operations and product offerings online, creating myriad new compliance issues and fraud risks.

TMO’s Financial Institutions and Specialty Finance Practice takes a proactive approach in monitoring the legislative landscape in which financial service providers operate. Leveraging the knowledge and resources of an extensive international network, we provide a wide variety of services to help these companies maintain compliance – and stay ahead of competitors.

Additionally, our senior-level professionals and thought leaders stay abreast of new legislation, drawing upon a higher-level of insight to develop successful capital-raising strategies, and more effectively evaluate credit risk.