Carl Aridas

Carl is certified in the Scaled Agile Framework (SAFe), a Scrum Master, and a Six Sigma Green Belt project manager with more than 25 years of experience in financial services overseeing large-scale development global, multi-currency accounting, regulatory reporting, and financial reporting software platforms. He has hands-on experience completing, reviewing, and filing Federal Reserve, FFIEC, and IRS reports, including Call Reports, Y9C reports, 2900 reports, TIC reports, and arbitrage rebate reports.

Blogs from this Author

Growing Past $50 Billion: What Banks Need To Know About Section 165 of the Dodd-Frank Act

Section 165(a) of the Dodd-Frank Act requires the Federal Reserve to establish “enhanced supervision and prudential standards” for bank holding companies with more than $50 billion assets. This scrutiny level is stronger than the standards applicable to smaller institutions and increases based on a bank holding company’s unique riskiness. A. Standards the Federal Reserve Must […]

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Federal Reserve Extends FedNow Service Comment Period

Do blog readers like to have their opinions heard? For those that do, the Federal Reserve Board has announced it will extend, until September 9, 2021, the comment period for its proposal to govern funds transfers over the Federal Reserve Banks’ FedNow Service. The FedNow Service is a new 24x7x365 service that will support instant […]

Federal Reserve Releases Bank’s Annual CCAR Stress Test Results

The Federal Reserve released in late June the results of its annual bank stress tests. The Fed’s Comprehensive Capital Analysis and Review (“CCAR”) stress tests are designed to ensure that large banks can lend to households and businesses even in a severe recession. The annual exercise evaluates large banks’ resilience by estimating their loan losses, […]

OCC Releases CRA Evaluations for 16 National Banks and Federal Savings Associations

The Office of the Comptroller of the Currency (OCC) has released 16 Community Reinvestment Act (CRA) performance evaluations.  These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year.  The reviews, which can take weeks for small banks and months for large banks, assess an institution’s performance in helping […]

Federal Reserve Extends Paycheck Protection Program Liquidity Facility to July 30, 2021

While many people are returning to the office after their July 4th festivities carrying on as usual, bankers can return knowing that the Federal Reserve Board has extended the Paycheck Protection Program Liquidity Facility until July 30th. The Paycheck Protection Program Liquidity Facility, or PPPLF, extends term credit to financial institutions making Paycheck Protection Program […]

Big Foot Forward With AI To Treat Insulin Dependent Diabetics

Background of Diabetic Market in the US According to a 2020 Center for Disease Control (“CDC”), the United States has approximately 34 million people with diabetes. Of these, the Juvenile Diabetes Research Foundation (JDRF) estimates that 7% are Type 1, meaning their body produces no insulin, and cannot survive without does of insulin. Of the […]

Federal Reserve and Other Banking Agencies Extend Comment Period for Artificial Intelligence

Perficient highlighted in a blog more than a month ago that the five federal financial institution agencies were seeking public comment to understand the public’s views on the use of AI by financial institutions in their provision of services to customers. Board of Governors of the Federal Reserve System (The Fed) Consumer Financial Protection Bureau […]

FDA Approves Marketing of AI/ML Device To Find Colon Cancer

The Impact of Colon Cancer According to the National Institutes of Health (NIH), colon cancer is the third-leading type of cancer death in the United States. Cancer in the colon usually starts from polyps or other precancerous growths in the rectum or the colon (large intestine). As part of a colorectal cancer screening and surveillance […]

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OCC Releases Community Reinvestment Act (CRA) Evaluations

The Office of the Comptroller of the Currency (OCC) has released 15 Community Reinvestment Act (CRA) performance evaluations.  These evaluations are based on on-site examinations by OCC-trained staff. On-site examinations are done every other year. Reviews, which can take weeks, assess an institution’s performance in helping to meet the credit needs of communities, including those […]

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Federal Reserve Board Now Accepting Applications For The Community Advisory Council

The Federal Reserve Board announced this week that it is accepting applications from individuals who wish to be considered for membership on the Community Advisory Council (CAC).  Formed in 2015, CAC advises the Federal Reserve Board on issues affecting consumers and communities.  The Federal Reserve Board also has two other advisory councils with members represent […]

Bank Regulators Seeking Comments on the Use of AI and ML in the Industry

Background: The five federal financial regulatory agencies are gathering insight on financial institutions’ use of artificial intelligence (AI) and machine learning (ML). The five federal agencies are: the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board (Fed), the National Credit Union Administration (NCUA) and the Office of the […]

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Overview of FDA’s AI/ML-Based Software as a Medical Device Action Plan

In a landmark effort to both guide and spur artificial intelligence (AI) and machine learning (ML) development in the medical field, the US Food and Drug Administration (FDA) has released an Artificial Intelligence/Machine Learning (AI/ML)-Based Software as a Medical Device (SaMD) Action Plan. Background The plan was created by the FDA’s Digital Health Center of […]

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