Industry Reports Archive

Question: How often does a bank have to update its BSA risk assessment? Is it still 12 to 18 months? Answer: It used to be 12-18 months in prior versions of the FFIEC Manual which you can see reflected here:  “Bank’s Updating of the Risk ...Read More

In the latest issue of Consumer Compliance Supervisory Highlights, the FDIC addressed the charging of multiple non-sufficient funds fees for transactions presented multiple times against insufficient funds in a customer’s account. FDIC examiners have scrutinized this issue in recent exams, with some exams remaining ...Read More

Question: Would we need to pull a flood certificate if we have knowledge that there is a grain bin on the lot we are financing? Answer: Assuming the grain bin meets the definition of a building for flood purposes, the interagency guidance on this ...Read More

The Legislature met for two days last week, breaking a consistent pattern of three-day weeks during this Regular Session. Despite the “break” on Wednesday, both legislative bodies put in significant hours last week due to serious debate on a number of substantive and controversial ...Read More

Broadband Expansion The Alabama Senate on Thursday passed legislation sponsored by Senate Majority Leader Clay Scofield aimed at expanding broadband access across the state. Senate Bill 124 would modify the Alabama Department of Economic and Community Affairs (ADECA) Broadband Accessibility Grant program and its ...Read More

Question: Can you give us some tips drafting an MSA for a joint advertising campaign to avoid a RESPA Section 8 issue? Answer: As I am sure you have found, “marketing services agreements” is definitely a hot topic. It is still unclear to what ...Read More

By Rob Nichols, American Bankers Association America’s banks have a longstanding commitment to helping reduce the number of unbanked and underbanked individuals and families in the U.S. July marked a major milestone in that endeavor, with an announcement from the Cities for Financial Empowerment ...Read More