June | 2019 | Alabama Bank News

Compliance Q&A: Inheritance, Demolition & HMDA

Breaking, Compliance Q&A, Publications

Question: If someone inherits a house and has plans to demolish it and build another house, what is the HMDA purpose? Answer: There is no bright-line rule in the regulations or guidance that delineates when a loan like this crosses the line between ...Read More

Compliance Q&A: Temporary Branch Closure Notification

Breaking, Compliance Q&A, Publications

Question: If we need to temporarily shut down one of our branches to treat for dangerous mold, do we need to give any kind of notice to our regulator? Answer: At the federal level, there’s a specific exemption for temporary closings that are ...Read More

Compliance Q&A: Regulation D and Reserve Requirements

Breaking, Compliance Q&A, Publications

Question: I have a quick question related to Regulation D and reserve requirements. If we offer commercial escrow services to hold funds for two or more parties, are these funds held in escrow generally subject to Reg. D? Answer: Yes, escrow funds are specifically included in the definition of ...Read More

2019 Regular Session: Session Recap

Breaking, Capitol Notes, Politics, Publications

The 2019 Regular Session of the Alabama Legislature ended on May 31. The first regular session of this legislature’s four-year term, and indeed the very first session for many newly-elected legislators, was punctuated with many more “big-ticket” items than might normally be expected. Throughout ...Read More

Compliance Q&A: Web Site Regulatory Considerations

Breaking, Compliance Q&A, Publications

Question: For examination purposes, should we be logging all changes to our website or just the ones related to compliance? Answer: Since the bank’s website is generally considered an advertisement and sometimes contains disclosures required by federal regulations, the bank would want to ...Read More

Monthly Archive:: June 2019