Industry Reports | Alabama Bank News

Commercial Loans and the FCRA

Breaking, Industry Reports

By Victoria E. Stephen The Fair Credit Reporting Act, or FCRA for short, basically regulates the furnishing and collecting of credit information and imposes certain disclosure requirements in connection with accessing credit reports. The FCRA itself is a statute and only a few parts ...Read More

Compliance Q&A: Reg O

Breaking, Industry Reports

Question: Would the bank be violating Reg. O if it offered a higher Money Market rate for just shareholders? Answer: There is not a direct prohibition in Reg. O, since it primarily governs credit and not deposit accounts, like money market accounts. However, many banks have ...Read More

Breaking, Industry Reports

Question: I have a loan officer who issued a loan estimate that predates the application date by 1 day. While I don’t believe this to be best practice, I’m not certain whether it’s also a violation of regulation. Can someone please confirm? Answer: Assuming the required ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Politics, Publications

by Charles W. Prueter, Waller The benefits of arbitration to frequent and experienced litigants are widely known. For example, discovery generally is more limited, the length of the entire proceeding typically is shorter, the information at the center of the dispute more easily remains ...Read More

Compliance Q&A: Notice of Right to Rescind

Breaking, Industry Reports

Question: Why do we have to have two copies signed at closing for the notice of right to rescind? Answer: The regulation requires that two copies of the notice of right to rescind be delivered to each consumer entitled to rescind, but there’s not a regulatory ...Read More

The Why and How of Environmental Risk

Breaking, Industry Reports

By John Berteau, Associate General Counsel For banks, environmental risk management addresses concerns about the present by looking into the past and gazing into the future. A good environmental risk policy looks to the past to identify existing environmental liabilities before making loans secured ...Read More

Safeguarding Our Seniors: How Banks Can Help Protect Against Elder Financial Exploitation

Board Briefs, Breaking, Industry Reports, Publications

by Kenneth Douglas, Porter Keadle Moore Today, baby boomers are still one of America’s largest demographics, with the U.S. Census estimating them on target to represent more than 20 percent of the nation’s total population by 2029. More so, this generation is quickly adding ...Read More

Forget Black Friday…Here’s Where You’ll Find the Real Savings

Breaking, Industry Reports

By Kelly Flynn, John M.Floyd & Associates From Thanksgiving Day through Black Friday and Cyber Monday in 2017, more than 174 million Americans shopped in stores and online, spending an average of $335 per person. They saved maybe $50 here or $100 there. And that’s great for ...Read More

Compliance Question of the Week: Reg DD Advertising

Breaking, Industry Reports

Question: Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered? Answer: No, you’re not ...Read More

HMDA Reporting Relief for Some

Board Briefs, Breaking, Industry Reports, Publications

by Bob Fowlkes, Maynard Cooper & Gale On May 24 President Trump signed into law the “Economic Growth, Regulatory Relief and Consumer Protection Act” (the “Act”). While the Act may ease the HMDA reporting burden on many banks, it may not be the panacea ...Read More

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