Breaking Archive

by Steven Connor and Dustin Timblin, Waller A few months ago, the Ice Benchmark Administration and Financial Conduct Authority announced that most tenors of LIBOR would continue to be published through June 30, 2023, rather than the end of 2021 as previously anticipated. Although ...Read More

MONTGOMERY, Alabama, March 19, 2021 — Week 7 of the 2021 Regular Session saw some of the lengthiest floor debate of the session so far, particularly in the House of Representatives.  On Tuesday, representatives debated what they termed an “agency calendar.”  Designed to help public ...Read More

By Chris Couch, McGlinchey FDIC on Jan. 22 finalized revisions to its Brokered Deposit Rule (the Rule), identifying a clear path for financial technology (FinTech) companies to partner with banks in generating deposits. While the Rule acknowledges (and ostensibly leaves in place) the statutory ...Read More

Supreme Court Update for Banking and Financial Services Professionals by Charles W. Prueter Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) one year ago this month, creating — among other stimulus programs — the Paycheck Protection Program (PPP). And like ...Read More

Q: Are investment properties with a loan purpose of Code 4 HMDA reportable? A: Code 4 for “Loan Purpose” corresponds to “Other Purpose.” You do not report “Other” purpose loans that are “business purpose.” Reference: Code 4—Other purpose Data Point “(5) Loan Purpose, Reportable ...Read More

By Rob Nichols Over the course of the pandemic, the U.S. economy has been tested like never before and has more than proven its resilience. That’s thanks in no small part to our large and diverse financial system: a network of financial institutions of ...Read More

Q: In determining whether the bank reports a HELOC for HMDA purposes, does the bank need to consider denied, withdrawn and approved but not accepted HELOCs into the threshold of 200? A: The count is based on the number of open-end lines of credit ...Read More