Publications | Alabama Bank News

Compliance Q&A: Appraisal Independence Requirements

Breaking, Compliance Q&A, Industry Reports, Publications

Question: Does the bank have to comply with the appraisal independence requirements even if an appraisal is not required? Answer: While not an explicit requirement if the appraisal itself is not required, we advise that the bank should ensure independence in the appraisal ordering process even ...Read More

Reporting Credit Scores for Two or More Applicants

Breaking, Compliance Q&A, Industry Reports, Publications

Question: We request a tri-merge credit report for each applicant. Our credit decision relies on the single lowest middle score applicant(s). Can you give guidance on how credit scores would be reported for two or more applicants? Do we report the one score relied ...Read More

The Beneficial Ownership Rule – An Overview

Board Briefs, Breaking, Legal, Publications

By Charles R. Moore, Bradley On May 11, 2018, a new rule—commonly referred to as the Beneficial Ownership Rule—took effect to establish additional customer due diligence requirements for banks and other financial institutions. The Financial Crimes Enforcement Network (FinCEN) issued the rule under the ...Read More

2019 Regular Session: Week 1 Recap

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

The 2019 Regular Session has been on hiatus since gaveling in on March 5. In the meantime, a bipartisan group of legislators overwhelmingly approved Gov. Kay Ivey’s “Rebuild Alabama” plan, which provides for a gradual 10-cent increase in state gasoline taxes to pay for ...Read More

Diversifying Our Most Important Asset

Breaking, Industry Reports, Publications

by Rob Nichols, American Bankers Association They say you can’t improve what you don’t measure. That is why ABA has established a dashboard that shows the gender, ethnic and generational breakdown of our workforce, from the customer service operators to the C-suite. This snapshot ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Publications

by Charles Prueter By Charles Prueter, Waller The Fair Debt Collection Practices Act, which was signed into law by President Jimmy Carter in 1977, has a simple and straightforward purpose: Protect unsophisticated consumers from unscrupulous debt collectors. The statute itself, however, has proved to ...Read More

Credit Concentration Risk Management Back in Regulatory Focus

Board Briefs, Breaking, Publications

by Chris Couch, McGlinchey Stafford Late last year the Office of the Comptroller of the Currency identified “concentration risk management” as a top supervisory concern for 2019. Subsequently, the Federal Reserve raised interest rates twice, the US economy witnessed the worst annual returns for ...Read More

Compliance Q&A: Use of Line of Credit for a Rental Property: Is it HMDA Reportable?

Breaking, Compliance Q&A, Publications

Question: We have a commercial customer with a line of credit that they use for working capital. They may also use the line for any other type of business-related expense. So, the commercial borrower used this original line to purchase a rental property. Now, ...Read More

Compliance Q&A: Refinancing a Second Home

Breaking, Compliance Q&A, Industry Reports, Publications

Question: We have a question on a loan that is a refinance of a purchase of a second home and is adding funds to pay off personal credit cards. Should be report the HOEPA Status as “Code 3 – NA”? Answer: Assuming the loan ...Read More

Disrupt or Die: The Community Bank’s Guide to the BB&T – SunTrust Merger

Board Briefs, Breaking, Publications

by Murray Bibb, Porter White & Co. It was a run-of-the-mill Thursday morning — save for the record high temperatures approaching 80 degrees during the first week of February 2019 — as I was enjoying a pre-daylight cup of coffee and reading the Wall ...Read More

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