Legal Archive

by Charles W. Prueter The Supreme Court has picked up its pace of late, including issuing three opinions in the last month or so in cases that were previewed on these pages. From financial consumer protection to securities enforcement to class arbitration, these cases ...Read More

House Bill 419, the Financial Institution Excise Tax Reform Act, was amended and favorably reported by the House Ways & Means – General Fund Committee on Wednesday. Thanks to the good work of the bill’s sponsor, Rep. Kyle South (R-Fayette), committee members had no ...Read More

House Bill 419 is one of the most significant pieces of legislation in several years. Introduced on April 11 by Rep. Kyle South (R-Fayette), the 33-page bill is the culmination of nearly 12 months of work between the banking industry and the Alabama Department ...Read More

by Jenny McCain, Maynard Cooper & Gale As your bank grows either organically or through a merger/acquisition, it’s important to make sure the internal operations, overall organizational structure and “governance” considerations grow with it. Banking organizations that have historically operated in the $100-$200 million ...Read More

Alabama banks had a big day in court last Friday, as the Alabama Supreme Court withdrew a harmful 2018 opinion related to future advance mortgages.  In September 2018, the Court ruled in GHB Construction v. West Alabama Bank & Trust that a future advance ...Read More

by Charles W. Prueter Today, in an homage to federalism, the Update takes a look at a recent decision from the Supreme Court of Alabama that undoubtedly is of interest to the banking and financial services community. As readers will know, the Supreme Court ...Read More

By Charles R. Moore, Bradley On May 11, 2018, a new rule—commonly referred to as the Beneficial Ownership Rule—took effect to establish additional customer due diligence requirements for banks and other financial institutions. The Financial Crimes Enforcement Network (FinCEN) issued the rule under the ...Read More