Industry Reports Archive

Q: For a cashier’s check, and holds, under Reg. CC, isn’t the bank required to make the first $5,525 available by the next business day? A: Actually, Reg. CC allows the bank to combine the large deposit hold with a case-by-case hold. This would ...Read More

By Chris Couch, McGlinchey FDIC on Jan. 22 finalized revisions to its Brokered Deposit Rule (the Rule), identifying a clear path for financial technology (FinTech) companies to partner with banks in generating deposits. While the Rule acknowledges (and ostensibly leaves in place) the statutory ...Read More

Supreme Court Update for Banking and Financial Services Professionals by Charles W. Prueter Congress enacted the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) one year ago this month, creating — among other stimulus programs — the Paycheck Protection Program (PPP). And like ...Read More

Q: Are investment properties with a loan purpose of Code 4 HMDA reportable? A: Code 4 for “Loan Purpose” corresponds to “Other Purpose.” You do not report “Other” purpose loans that are “business purpose.” Reference: Code 4—Other purpose Data Point “(5) Loan Purpose, Reportable ...Read More

As planned, the Legislature did not meet in session this week.  After two busy weeks, this week’s hiatus provided an opportunity to reassess COVID protocols and sanitize the State House.  Over the next four weeks, the Legislature will meet for 10 legislative days, followed ...Read More

by Charles W. Prueter The United States Code — the collection of all bills passed by Congress and signed into law by the president — is comprised of 53 “titles,” each addressing a particular subject matter. They cover the waterfront — literally, as the ...Read More

by Michael Murphey Overview In December 2020, the FDIC produced a staff study entitled Economies of Scale in Community Banks which concluded community banks generate 90% of potential efficiency gains when a bank’s loan portfolio reaches $300 million and continue to accrue cost savings ...Read More