Monthly Archive:: January 2022

The Special Session called by Gov. Kay Ivey concluded last Thursday, as the Legislature gave final approval of a bipartisan plan to invest some $772 million in American Rescue Plan Act (“ARPA”) funds. The $772 million comes as part of Alabama’s $1.1 billion initial ...Read More

Question: What is the current open-end threshold for partial exemptions?  When does it change? Answer: The partial exemption open-end threshold is currently 500 transactions in each of the two previous years and is not currently scheduled to change. There is currently a full reporting ...Read More

Question: Can you give us some tips drafting an MSA for a joint advertising campaign to avoid a RESPA Section 8 issue? Answer: As I am sure you have found, “marketing services agreements” is definitely a hot topic. It is still unclear to what ...Read More

By Rob Nichols, American Bankers Association In case you haven’t noticed, cryptocurrencies are an increasingly hot topic of conversation in this country. According to a Pew Research Center survey fielded in November, 86% of Americans said they have heard about cryptocurrencies, and 16% said ...Read More

The Alabama Legislature convened last Tuesday to start the 2022 Regular Legislative Session. In addition to their usual activities of crafting both the General Fund and Education Trust Fund budgets, lawmakers will also consider a couple of tax-reduction bills introduced by Sen. Arthur Orr ...Read More

Question: Can a bank provide an access device for a home equity line of credit (HELOC)? Answer: This is permissible, with several risk considerations for the bank. Under Regulation Z, § 1026.2(a)(15)(ii), a debit card that can access a HELOC is a credit card. ...Read More