Breaking | Alabama Bank News

Compliance Q&A: Web Site Regulatory Considerations

Breaking, Compliance Q&A, Publications

Question: For examination purposes, should we be logging all changes to our website or just the ones related to compliance? Answer: Since the bank’s website is generally considered an advertisement and sometimes contains disclosures required by federal regulations, the bank would want to ...Read More

2019 Regular Session: Week 11 Recap

Breaking, Capitol Notes, Politics

The 2019 Regular Session will end today – Friday, May 31 – two legislative and 19 calendar days ahead of schedule. But as senators and representatives prepare to head home, plans are already being made for their return to Montgomery for the second special ...Read More

Changes Coming to “Change in Control”

Board Briefs, Breaking, Legal, Publications

By Jenny McCain In late April, the Board of Governors of the Federal Reserve System approved a notice of proposed rulemaking that would revise the Federal Reserve’s “control” rules under the Bank Holding Company Act of 1956 (Regulation Y). These rules that establish the ...Read More

Compliance Q&A: Commercial Lines of Credit

Breaking, Compliance Q&A, Industry Reports, Publications

Question: We have two commercial lines of credit that originated in 2016 but were increased by $200,000 each in 2019. We did not have new disclosures signed, and we simply executed a loan modification for the loan amount increase to both files. Should these ...Read More

2019 Regular Session: Week 10 Recap

Breaking, Capitol Notes, Politics, Publications

The first line of last week’s Capitol Notes remains the same for this week’s edition: “The calendar giveth, and the calendar taketh away.” But this time, the “calendar” in question is not the one that determines when the Legislature is or will be in ...Read More

Trying To Get a Handle on Data Security? Start With the Cybersecurity Assessment Tool

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Chris Couch, McGlinchey Boards frequently report anxiety around data security, and question whether their policies and procedures are sufficient. With the average direct cost of a security incident approaching $4 million and the indirect, reputational costs beyond calculation, it’s easy to understand why. ...Read More

Compliance Q&A: Definition of Distressed & Underserved Community

Breaking, Compliance Q&A, Industry Reports, Publications

Question: I have spent the afternoon looking for a simple “definition” of what a distressed and underserved community is. I have found bits and pieces, and I have found the updated lists for 2018, but we are undergoing some policy updates, and would like ...Read More

2019 Regular Session: Week 9 Recap

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

The calendar giveth, and the calendar taketh away. On Thursday, the fifth and seventh floors of the Alabama State House were abuzz over rumors that the end of the 2019 Regular Session was finally in sight. Legislators, if the rumors were true, were going ...Read More

Compliance Q&A: Filing Deadline For SAR Continuing Activity

Breaking, Compliance Q&A, Industry Reports, Publications

Question: By what day do we have to file the continuing activity SAR? Is it Day 90 or Day 120? Answer: The guidance provides that “Financial institutions with SAR requirements may file SARs for continuing activity after a 90-day review with the filing ...Read More

Importance of Board Integration in the Bank Merger Context

Board Briefs, Breaking, Publications

by Richard T. Hills and Steffen Pelletier Arters, Waller In light of the recent publicity surrounding the announcement of the “merger of equals” between BB&T and SunTrust, the successful integration of the venerable southern institutions has been a topic of extensive conversation and speculation. ...Read More

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