Breaking Archive

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

QUESTION: The bank currently provides the risk-based pricing notice in accordance with model forms H-3 and H-4, under the FCRA and Regulation V, for loans secured and not secured by residential real estate, respectively. The bank does not employ a credit scoring model or ...Read More

Question: Must the bank follow the E-Sign Act requirements if providing notice of nonpayment to a customer electronically? Answer: The commentary to § 229.33(h), clarifies that a notice can be provided by email or fax. However, only Regulation CC, Subpart B, requires conforming with ...Read More

In October, the Office of Foreign Assets Control (OFAC) published more targeted guidance for digital asset companies related to compliance with sanctions and best practices for mitigating risks. OFAC’s virtual currency guidance is directed at the entire industry, “including technology companies, exchangers, administrators, miners, ...Read More