Industry Reports | Alabama Bank News

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

Compliance Question of the Week

Breaking, Industry Reports, Publications

Question: Our bank has an affiliate that purchases account receivables. The affiliate orders consumer reports in order to conduct their business. One of their customers applied to our bank for a commercial loan. The affiliate, having obtained a credit report on the guarantor, provided ...Read More

Washington Update: Keeping Pace With Change

Breaking, Industry Reports, Politics, Publications

by Rob Nichols If you are like many of the hundreds of bankers I have talked to since joining ABA three years ago, odds are you have an issue with your core provider. Yes, these companies are critical partners, and they deliver many excellent ...Read More

Supreme Court Update for Banking and Financial Services Professionals:

Breaking, Industry Reports, Legal

by Charles W. Prueter The Supreme Court soon may take up an important case focusing on the balance of power in the NBA. No, it is not a challenge to the monopoly that the Golden State Warriors currently have on talent and championships in ...Read More

Compliance Question of the Week

Breaking, Industry Reports

Question: HELOCs and escrow for flood–are they always exempt even if in 1st position? Answer: Yes, that’s correct–there’s a specific exemption for HELOCs in and of themselves: 339.5 Escrow requirement. (a) In general—(1) Applicability. Except as provided in paragraphs (a)(2) or (c) of this section, an ...Read More

Compliance Question of the Week

Breaking, Industry Reports

Question: I pulled a flood certification in which there is one parcel of land but multiple, nonresidential buildings on that piece of land. The provider did not include a schedule of the buildings. All the buildings are in a flood zone, and the provider ...Read More

Court Ruling Threatens Real Estate Lending

Breaking, Industry Reports, Legal

A recent state Supreme Court ruling could potentially spell disaster for real estate lending in Alabama. In late September, the Court ruled that a future-advance mortgage does not create a mortgage lien until some indebtedness is incurred under the mortgage, rather than when the ...Read More

Compliance Question of the Week: Reg DD and Advertising requirements

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

Compliance Question of the Week

Breaking, Industry Reports, Legal

Question: For the Reg. DD – “indoor signs” exception in Section 1030.8(e)(2), I see that indoor signs are exempt from: permissible rates, when additional disclosures are required, bonuses, and certain media exemptions. My question is whether “when additional disclosures are required” includes, for example, an ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Politics, Publications

by Charles W. Prueter In the last installment of the Update, I wrote about then-Judge Brett Kavanaugh’s commitment to textualism and the separation of powers. Suffice to say, nobody has thought much about any legal doctrines or methods over the month since. Nevertheless, here ...Read More

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