Breaking | Alabama Bank News

It is Time to Think About M&A

Board Briefs, Breaking, Publications

by Michael S. Murphey, Porter White & Company M&A is Back Say what you will about 2020, Alabama’s banking system changed on a dime to meet the needs of our clients and local economies. Think about it. Branches closed, digital services grew, employee and ...Read More

Fair Lending, CRA, Diversity and Inclusion in Bank M&A

Board Briefs, Breaking, Politics, Publications

by Wes Scott and Richard Hills As a result of the COVID-19 pandemic, bank merger activity in 2020 was down substantially from the previous year. However, a significant change of course is expected in 2021 and 2022 based upon the general health and capital ...Read More

Compliance Q&A: NACHA and Reg E

Breaking, Compliance Q&A, Publications

Q: What is the line between relying on the National Automated Clearing House Association (NACHA) warranty and Regulation E requirements in resolving disputes unauthorized transaction disputes? A: Regulation E and NACHA are two requirements that while each govern electronic transactions, run parallel to each ...Read More

Capitol Notes: Regular Session Ends

Breaking, Capitol Notes, Industry Reports, Legal, Politics, Publications

The 2021 Regular Session of the Alabama Legislature ended its 30th and final legislative day at 11:59 p.m. on Monday, ending one of the more unusual sessions in recent memory. In typical fashion, the last legislative day was full of high drama in both ...Read More

Compliance Q&A: TRID Disclosure Considerations

Breaking, Compliance Q&A, Publications

Q: We have two consumers applying for a mortgage jointly and have provided the same email address for each applicant. The bank complies with TRID disclosures electronically, how should the bank ensure that each consumer received the disclosure, since the email addresses are the ...Read More

Financial Institutions’ Legal Obligations under ADA Article III

Board Briefs, Breaking, Publications

by Chase Stoecker Title III of the Americans with Disabilities Act (ADA) prohibits discrimination on the basis of disability by places of public accommodation. It directs businesses to make “reasonable modifications” to standard business practices when serving people with disabilities. Under Title III of ...Read More

Compliance Q&A: Benefit Accounts

Breaking, Compliance Q&A, Publications

Q: My customer would like to establish a benefit account for a fundraiser they are doing in their community. What type of account should this be and what documentation is needed? A: Generally, benefit or memorial accounts are accounts that will be used in ...Read More

Capitol Notes: Week 14 Recap

Breaking, Capitol Notes, Politics, Publications

MONTGOMERY, Alabama, May 7, 2021 — The Legislature met this week for the 28th and 29th legislative days of the 2021 Regular Session. Without question, this was the session’s most contentious week, as multiple controversial issues were debated on the House and Senate floors. ...Read More

Compliance Q&A: Domestic Wire Transfers & OFAC Checks

Breaking, Compliance Q&A, Industry Reports, Publications

Q: Are banks required to perform OFAC checks on incoming domestic wire transfers? A: OFAC requires banks to implement a program in accordance with the bank’s size, complexity, risk-factors, and other criteria, in order to block transactions with certain individuals and counties on the ...Read More

Capitol Notes: Week 13 Recap

Breaking, Capitol Notes, Legal, Politics, Publications

MONTGOMERY, Ala., April 30, 2021 — In somewhat of a surprising move, the Alabama Legislature had little-to-no controversies on the House and Senate floors this week. While that was certainly a good thing, especially for the banking industry, it means a litany of controversial ...Read More

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