October | 2018 | Alabama Bank News

Understanding Bank Liability for Unauthorized Zelle Payments

Board Briefs, Breaking, Publications

by Brian Malcom, Waller Zelle, ever heard of it? If you are in the banking industry, the answer is almost certainly yes. Zelle is a service that allows bank customers to instantly send funds to others. In 2017, Zelle handled roughly $75 billion in ...Read More

Compliance Question of the Week

Breaking, Industry Reports

Question: I pulled a flood certification in which there is one parcel of land but multiple, nonresidential buildings on that piece of land. The provider did not include a schedule of the buildings. All the buildings are in a flood zone, and the provider ...Read More

Court Ruling Threatens Real Estate Lending

Breaking, Industry Reports, Legal

A recent state Supreme Court ruling could potentially spell disaster for real estate lending in Alabama. In late September, the Court ruled that a future-advance mortgage does not create a mortgage lien until some indebtedness is incurred under the mortgage, rather than when the ...Read More

Compliance Question of the Week: Reg DD and Advertising requirements

Breaking, Industry Reports

Question: Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered? Answer: No, you’re not ...Read More

Door Hangers and Red Flags

Board Briefs, Breaking, Legal, Publications

by Elena A. Lovoy, McGlinchey Stafford As the leaves begin to change colors and football games fill our calendars, it remains business as usual (or unusual) in residential mortgage lending. Two interesting developments shed light on how far a court may be willing to ...Read More

Compliance Question of the Week

Breaking, Industry Reports, Legal

Question: For the Reg. DD – “indoor signs” exception in Section 1030.8(e)(2), I see that indoor signs are exempt from: permissible rates, when additional disclosures are required, bonuses, and certain media exemptions. My question is whether “when additional disclosures are required” includes, for example, an ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Politics, Publications

by Charles W. Prueter In the last installment of the Update, I wrote about then-Judge Brett Kavanaugh’s commitment to textualism and the separation of powers. Suffice to say, nobody has thought much about any legal doctrines or methods over the month since. Nevertheless, here ...Read More

Dealing with Appraisal Actions in Bank M&A

Board Briefs, Breaking, Industry Reports, Publications

by James H. White, III Author’s note: The following is a memorandum from an investment bank to a hypothetical bank client faced with the possibility of a dissent and appraisal action in connection with a sale of the bank. Confidential Memorandum To: Community Banker ...Read More

Compliance Question of the Week

Breaking, Industry Reports

QUESTION: Under Reg. Z, the NMLS ID and name would be required on mortgage, note, application, LE and CD for any dwelling-secured loan. Is that correct? ANSWER: Reg. Z section 1026.36 requires the NMLS ID to be on the note, security instrument, application, ...Read More

Equity Incentive Plans – is Your House in Order?

Board Briefs, Breaking, Legal, Publications

by Andrew S. Nix, Maynard Cooper & Gale Equity incentives can be a very effective component of a bank’s compensation program. When used properly, equity incentives can help advance a bank’s business strategy, link pay and performance and provide a competitive advantage in recruitment ...Read More

Monthly Archive:: October 2018