Publications | Alabama Bank News

Compliance Q&A: “Assumed” HMDA Loans

Breaking, Compliance Q&A, Industry Reports, Publications

Question: Is an “assumed” loan HMDA reportable? There was only one borrower when the loan was originated (not this year) and the loan was reported in that year. The Bank has now allowed another borrower to assume the note from the original borrower. ...Read More

Compliance Q&A: Documents Needed for Board Approval of BSA/AML Policy

Breaking, Compliance Q&A, Publications

Question: Can you clarify all of the documents that the Board of Directors is required to review prior to approving the BSA/AML Policy? Does the BOD need to review the Policy, Risk Assessment and Procedures as a total program review? Answer: Because procedures and ...Read More

Compliance Q&A: CD and E-Sign Consent

Breaking, Compliance Q&A, Publications

Question: We were written up for the initial CD being sent via e-disclosure to a borrower that did not have E-SIGN consent. I am saying that sending via email was not an option for the borrower. Is this correct? I did just look at ...Read More

Compliance Q&A: Is a Floor Required for Flood Coverage?

Breaking, Compliance Q&A, Publications

Question: So I am aware of the two walls and a roof requirement in the flood regulations, but what if the building is on a dirt floor but secured to the ground with concreted post? Because there is no floor, does that negate the requirement ...Read More

Lender Liability: Can Enforcing the Terms of a Loan Agreement Be a Breach of Contract?

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Michael Odom Can a bank be held liable for breach of contract for calling a loan after the maturity date, or where the note says it is payable on demand? Can a lender be held liable for refusing to make an advance under ...Read More

Compliance Q&A: HMDA and Construction Loan Reporting

Breaking, Compliance Q&A, Industry Reports, Publications

Question: For HMDA reporting, the purpose is to construct 45 additional apartment units but collateral is existing 68 unit apartment complex and land where borrower will build the additional units. The payment terms are 24 payments of interest only thru 3/15/21 then payments of P & ...Read More

Will the Family Farmer Relief Act of 2019 Lead to a Surge in Chapter 12 Filings?

Board Briefs, Breaking, Publications

By Cathy Moore and Chris Hawkins On Aug. 26 the “Family Farmer Relief Act of 2019” (H.R. 2336) was signed into law, substantially increasing the debt limit for agricultural producers seeking to file for relief under Chapter 12 of the United States Bankruptcy Code. ...Read More

Compliance Q&A: Allowing Customers to View Multiple Accounts Under One User Name

Compliance Q&A, Industry Reports, Publications

Question: What are the risks/concerns to the Bank if we allow a customer to view multiple accounts under the same log in in our Online Banking? The customer would have “View Only” access to these accounts. The accounts are a mix of Business accounts ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Politics, Publications

by Charles W. Prueter In 2007, a bankruptcy and securities law professor at Harvard Law School proposed the creation of a new independent federal agency to enforce consumer financial protection statutes and regulations and generally to regulate the financial services sector. The professor’s proposal ...Read More

Compliance Q&A: Flood Insurance

Breaking, Compliance Q&A, Publications

Question: The private flood insurance regulations have a provision requiring an insured to file suit not later than one year after the date of a written denial for all or part of a claim under a policy, but the policy we’re looking at does ...Read More

Publications Archive