Breaking | Alabama Bank News

“Kickback and Relax” is not a RESPA Compliance Strategy

Board Briefs, Breaking, Publications

by Brian Fink The recent resolution of the PHH case is good news for banks that originate mortgages. The court vacated the CFPB’s $109 million fine for PHH’s alleged violations and provided helpful guidance regarding the permissibility of working with others—even if a referral ...Read More

Cryptocurrencies from a Tax Perspective – Understanding Taxation for Digital Currencies

Board Briefs, Breaking, Publications

by Houston Holmes, Porter Keadle Moore While cryptocurrency’s role in traditional banking is still being defined, the reality is that consumers are choosing to invest in it. And, because banks desire to be consumers’ primary partner in all money-related activities, increased market adoption of ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports

By Charles W. Prueter, Waller Awaiting the end of June with great anticipation is an annual affair for Court watchers around the country. Many of the most consequential and ground-breaking decisions each year are released in June, as the Supreme Court closes the term ...Read More

The Shape of Banks to Come Part II

Board Briefs, Breaking, Publications

by Nancy A. Bush We have previously discussed at length the changes taking place in the competitive environment of the banking industry—the challenges facing the major banks as they continue to grapple with regulatory deposit caps, the cut-throat competition for both loans and deposits ...Read More

Does Your Bank’s Website Invite ADA Lawsuits?

Board Briefs, Breaking, Publications

by Brian J. Malcom Does your bank have a website? Unless your bank uses an abacus to tally deposits, the answer is probably yes. If so, do you know if your bank’s website complies with the Americans with Disabilities Act (“ADA”)? Did you even ...Read More

Successful Primary Election for BankPAC

Board Briefs, Breaking, Publications

Through its state political action committee, BankPAC, the Alabama Bankers Association made numerous campaign contributions to candidates who emerged victorious from last night’s Republican and Democratic Primary Elections. Specifically, candidates in 73 statewide executive, judicial, and legislative races received a combined total of $247,500 ...Read More

FinCEN Announces Update to the Suspicious Activity Report (SAR)

Breaking, Industry Reports

In late January of 2018, FinCEN announced the update to the Suspicious Activity Report (SAR) that will be available on June 22, 2018. The updated SAR form has been revised and includes half a dozen changes. These changes include: a new field that will ...Read More

Count Down to The New Lease Accounting Standards: What Bankers Can Expect

Board Briefs, Breaking, Publications

As we head into spring, one of the biggest changes in public accounting standards is looming closer each day. In 2016, the Financial Accounting Standards Board (FASB) announced an accounting standards update (ASU) — ASU No. 2016-02 — which will improve the ways banks ...Read More

How Manufactured Housing Finance Borrowers Find Lenders

Board Briefs, Breaking, Publications

by Jeffrey Barringer Lenders new to the manufactured housing market, or those that exited the market and are now reentering, may be surprised by the limitations imposed on how potential borrowers find financing at a retailer. The Shift to a Direct Lending Model Prior ...Read More

Value at Risk: Judicial Appraisal in M&A Transactions

Board Briefs, Breaking, Publications

by James H. White III and Michael G. Rediker Among the major uncertainties surrounding corporate mergers and divestitures is the judicial appraisal process for mergers and asset sales where a court can be called upon to second guess the deal terms negotiated by the ...Read More

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