On the surface there appears to be no better maxim for today’s bank than the title of this article. Thanks in large part to their regulators, banks seem to have a plan for everything. There is a loan policy, an investment policy, and a compliance policy. There are also fair lending policies, Community Reinvestment Act policies, Bank Secrecy Act policies, flood insurance policies, funds availability policies, privacy policies, and asset liability management policies, and that is merely scratching the surface. Those who have served on the board of directors of a community bank know that there are approximately five to 10 policies approved for renewal by the board each month, most of which the board can give only a cursory review because the number and breadth of these policies make it impossible for the board to review them in depth. Continue reading >