May | 2019 | Alabama Bank News

Solving the Banking Industry’s Cannabis Conundrum

Breaking, Industry Reports, Politics, Publications

by Rob Nichols While there is still a healthy — and appropriate — debate on whether cannabis should be legalized at the federal level, there is growing consensus that something must be done to address the cannabis conundrum affecting banks. The need for a ...Read More

Compliance Q&A: Flood Insurance

Compliance Q&A, Publications

Question: We have a potential borrower who has several buildings we will be taking as collateral. The corner of one building is in a flood zone. We have requested flood insurance covering the entire building. Our borrower stated that his previous lender allowed them ...Read More

Federal Tax Reform Highlights Ambiguities and Compliance Challenges for Alabama Banks

Board Briefs, Breaking, Politics, Publications

by James E. Long, Jr. and Bruce P. Ely Unlike most states, Alabama exempts financial institutions from its corporate income tax, choosing instead to subject these entities to its financial institution excise tax (“FIET”). While it’s not uncommon for financial institutions to encounter state ...Read More

2019 Regular Session: Week 7 Recap

Breaking, Capitol Notes, Politics, Publications

Next week could be a busy one in the State House for the Alabama Bankers Association, as three bills ABA is tracking could start moving as early as Tuesday afternoon: House Bill 419, the Financial Institution Excise Tax Reform Act, is on the House ...Read More

Compliance Q&A: Annual Disclosure Statement

Breaking, Compliance Q&A, Publications

Question: With regard to the FDIC’s Part 350 Annual Disclosure Statement rescission, would it only apply to one of our charters or would it apply to the holding company and everything under it as a whole? We are two chartered banks under one holding ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Publications

by Charles W. Prueter The Supreme Court has picked up its pace of late, including issuing three opinions in the last month or so in cases that were previewed on these pages. From financial consumer protection to securities enforcement to class arbitration, these cases ...Read More

Monthly Archive:: May 2019