Product Updates May 2025
The Product Updates for May 2025 from BankPolicies.com feature the following revised policy template products:
Accounts Payable and Employee Expense Policy Template
The update to this product is in response to the Department of the Treasury’s final rule entitled “Eliminating Unnecessary Regulations” dated 04/15/25 that streamlines titles 12 and 31 of the Code of Federal Regulations (CFR) by removing regulations that are no longer necessary or no longer have any current or future applicability. This rule is effective 06/16/25 without further action, unless significant adverse comment is received by 05/15/25. If the Treasury receives significant adverse comments, it will publish a timely withdrawal in the Federal Register informing the public that this rule or a portion thereof will not take effect.
Commercial Loan Policy Template
Small Business Administration Loan Policy Template
The update to these products is in response to the following SBA’s News Releases:
- 2542 entitled “SBA Highlights Range of New Measures to Stop Fraud” dated 04/10/25 that highlights several new verification measures within its loan application process to strengthen protections against fraud and ensure its programs only benefit eligible American small business owners.
- 2545 entitled “SBA Eliminates Disastrous Biden-Era Underwriting Standards” dated 04/22/25 that announced the elimination of a package of Biden-era policies which dramatically reduced underwriting standards within the 7(a) loan program, sacrificing its financial integrity and driving up taxpayer liability. Under the leadership of Administrator Kelly Loeffler, the SBA is restoring robust rules to end the era of reckless lending, thereby preserving access to capital for America’s small business owners and safeguarding taxpayer dollars. SOP 50 10 is effective 06/01/25.
Compliance Management Policy Template
The update to this product is in response to FDIC FIL-9-2025 entitled “Supervisory Correspondence: Electronic Communication Adopted as the Preferred Method” dated 04/15/25 that announced the FDIC is making permanent the establishment of electronic communications as the preferred method for supervisory correspondence. This makes permanent the alternative secure mail procedures that were initially implemented on a temporary basis in March 2020.
Keeping You Informed
We provide this Product Update Blog as a courtesy to all clients regarding new and revised products released by BankPolicies.com. We feel that it is important to keep our clients well informed of changes to the financial institution industry, including keeping on top of federal regulatory changes, and industry recommended best practices. In this regard, we encourage you to subscribe to our newsletter in which these types of announcements are made including any special offers that can save you time and money. Just contact us to be added to our distribution list.