Publications Archive

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

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

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

MONTGOMERY, Ala., April 23, 2021 — The 2021 Regular Session is officially drawing to a close now that the Alabama Legislature has completed 25 of the session’s 30 legislative days. Since it takes a minimum of five legislative days for a bill to become ...Read More

MONTGOMERY, Ala., April 16, 2021 — The Legislature met for two legislative days this week and have now completed 23 legislative days since the start of the 2021 Regular Session on February 2.  Representatives and Senators dealt with a variety of hot topics this ...Read More

Q: State Bank has a customer who is getting a home equity loan for home improvement and debt consolidation for credit cards. Is the bank required to gather GMI/Demographic Information and is this HMDA reportable? A: It would be HMDA reportable if the purpose ...Read More

Q: What constitutes “demonstrable consent” when meeting ESign requirements? Are banks required to collect information that the consumer actually read the disclosure apart from just acknowledgement? A:  The statutory requirement can be found in 15 USC §7001, and reads as follows: “[T]he consumer— (i) ...Read More