Alabama Bank News

The Alabama Bankers Association encourages consumers to be vigilant in protecting themselves from fraudulent activity particularly during the latest COVID-19 Coronavirus environment. Scammers will be working around the clock to deceive individuals into providing sensitive, personal information in order to wipe out their bank ...Read More

by Chris Couch, McGlinchey Stafford In Tims v. LGE Community Credit Union, the Eleventh Circuit upended how numerous banks think about their Overdraft Protection (“ODP”) obligations under Regulation E. In the wake of Tims, though, with some thought and clarification, banks can still use ...Read More

Q: What type of concerns should the bank consider if we decided to host a podcast with one of our mortgage loan originators and one of his friends who is a realtor? Currently, the plan is for the podcast to discuss the housing market, ...Read More

By Grant Premo Lawsuits alleging claims under the Telephone Consumer Protection Act (commonly referred to as the “TCPA”) have more than tripled since 2011. A recent decision by the Eleventh Circuit Court of Appeals, however, may stem the tide of TCPA claims.  On Jan. ...Read More

Question: In some cases, our bank pulls an Automated Underwriting System (AUS) report, but ultimately not used in making the credit decision. Instead, the application is manually underwritten, and those results are used to make the credit decision. For HMDA purposes, do we still ...Read More

The association’s top legislative priority, the Financial Exploitation Prevention Act, was in line to be on the floor of the House as well as the floor of the Senate on Thursday, but both chambers adjourned before getting to the bills.  Even though they did ...Read More

Question: In regard to the six-transaction limit imposed in Regulation D, can a bank reduce this limit to only two transactions?   Answer: Yes, the bank may set stricter limits than required under Reg. D. There is not a prohibition in doing using a ...Read More