Legal | Alabama Bank News

Supreme Court Update for Banking and Financial Services Professionals

Industry Reports, Legal, Publications

by Charles W. Prueter Author’s note: The Court is not currently in session and will not return until October. The Update will begin previewing cases for the October 2019 Term next month. A young man from Chicago by the name of John Paul Stevens ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Publications

by Charles W. Prueter, Waller A young man from Chicago by the name of John Paul Stevens enlisted in the U.S. Navy on December 6, 1941. Pearl Harbor was attacked the next day, and he served the country throughout World War II. He returned ...Read More

Summary of Act 2019-284, the Financial Institution Excise Tax Reform Act

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Bruce Ely and Jimmy Long, Bradley EDITOR’S NOTE: In May of 2018, at the request of the Alabama Department of Revenue (“ADOR”), the Alabama Bankers Association (“ABA”) established a working group of tax experts to study ways to modernize and clarify the statutes ...Read More

Does Wayfair Have Just What You Need?

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Paul Leonard One of the more important decisions of the United States Supreme Court in 2018, at least for states, was the Court’s decision in South Dakota v. Wayfair (Wayfair). As widely reported, the Court held in Wayfair that an Internet seller of ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Publications

by Charles W. Prueter & Manning T. Russell “Celebrities: They’re just like us!” Whether you like it or not, this refrain resonates within our popular culture. Perhaps discovering that movie or reality TV stars eat pizza and pump gas — just like us! — ...Read More

Hemp is Here: How Financial Institutions Can Prepare for Alabama’s Newest Industry

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Whitt Steineker and Laney Gifford Centuries after American colonists were required by law to grow hemp, and decades after it was later outlawed by Congress, one of the nation’s oldest and most versatile crops appears to be having a moment. The Jan. 1 ...Read More

Reframing the Credit Union Debate

Breaking, Industry Reports, Legal, Politics, Publications

by Rob Nichols For too long, banks with legitimate concerns about unbridled credit union growth have been portrayed as Goliath picking on David. The truth is that in many states, a credit union is one of the largest local financial institutions, outranking most of ...Read More

Changes Coming to “Change in Control”

Board Briefs, Breaking, Legal, Publications

By Jenny McCain In late April, the Board of Governors of the Federal Reserve System approved a notice of proposed rulemaking that would revise the Federal Reserve’s “control” rules under the Bank Holding Company Act of 1956 (Regulation Y). These rules that establish the ...Read More

Trying To Get a Handle on Data Security? Start With the Cybersecurity Assessment Tool

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Chris Couch, McGlinchey Boards frequently report anxiety around data security, and question whether their policies and procedures are sufficient. With the average direct cost of a security incident approaching $4 million and the indirect, reputational costs beyond calculation, it’s easy to understand why. ...Read More

2019 Regular Session: Week 9 Recap

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

The calendar giveth, and the calendar taketh away. On Thursday, the fifth and seventh floors of the Alabama State House were abuzz over rumors that the end of the 2019 Regular Session was finally in sight. Legislators, if the rumors were true, were going ...Read More

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