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There were lots of smiles and high-fives when ASU 2022-02 Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures eliminated the requirement for creditors to recognize and measure certain modifications as troubled debt restructurings (TDRs). However, this new standard does not stop at the removal of the term “troubled debt restructurings” from the FASB codification. The standard significantly expands disclosures related to loan modifications involving borrowers experiencing financial difficultly which will require institutions to modify their existing processes and controls in order to track information required for disclosure under ASU 2022-02. Click the button below to learn more.
Contact our Financial Services Team for more information on how we can assist you with credit due diligence assessments.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change as a result of rapidly evolving legislative developments and government guidance.
Credential overlap, often mistaken for credential stuffing, is a major cybersecurity risk caused by password reuse across multiple accounts. This article explores how attackers exploit this weakness, insights from Elliott Davis penetration tests, and practical strategies to strengthen security and prevent unauthorized access.
The SEC’s new cybersecurity disclosure rules now require public companies to report material cybersecurity incidents within four business days and provide detailed risk management disclosures in annual reports. Organizations must assess the materiality of cyber threats, outline board oversight, and describe management’s role in mitigating risks to ensure transparency for investors.
Cyber threats are constantly evolving, and one often-overlooked vulnerability is clear text password storage. This article explores the risks of storing passwords in plain text, how attackers exploit this weakness, and practical solutions—including password managers, user awareness, and professional cybersecurity assistance—to strengthen your security posture.
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