Alabama Bank News

Lender Liability: Can Enforcing the Terms of a Loan Agreement Be a Breach of Contract?

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Michael Odom Can a bank be held liable for breach of contract for calling a loan after the maturity date, or where the note says it is payable on demand? Can a lender be held liable for refusing to make an advance under ...Read More

Compliance Q&A: HMDA and Construction Loan Reporting

Breaking, Compliance Q&A, Industry Reports, Publications

Question: For HMDA reporting, the purpose is to construct 45 additional apartment units but collateral is existing 68 unit apartment complex and land where borrower will build the additional units. The payment terms are 24 payments of interest only thru 3/15/21 then payments of P & ...Read More

Will the Family Farmer Relief Act of 2019 Lead to a Surge in Chapter 12 Filings?

Board Briefs, Breaking, Publications

By Cathy Moore and Chris Hawkins On Aug. 26 the “Family Farmer Relief Act of 2019” (H.R. 2336) was signed into law, substantially increasing the debt limit for agricultural producers seeking to file for relief under Chapter 12 of the United States Bankruptcy Code. ...Read More

Compliance Q&A: Allowing Customers to View Multiple Accounts Under One User Name

Compliance Q&A, Industry Reports, Publications

Question: What are the risks/concerns to the Bank if we allow a customer to view multiple accounts under the same log in in our Online Banking? The customer would have “View Only” access to these accounts. The accounts are a mix of Business accounts ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Politics, Publications

by Charles W. Prueter In 2007, a bankruptcy and securities law professor at Harvard Law School proposed the creation of a new independent federal agency to enforce consumer financial protection statutes and regulations and generally to regulate the financial services sector. The professor’s proposal ...Read More

Building Success in Washington

Breaking, Industry Reports, Politics

by Rob Nichols, American Bankers Association of Alabama Between the end of September and the end of October—at the same time the House was beginning its impeachment inquiry—a remarkable thing happened. Representatives turned their attention to two different, pressing banking issues—cannabis banking and modernization ...Read More

Compliance Q&A: Flood Insurance

Breaking, Compliance Q&A, Publications

Question: The private flood insurance regulations have a provision requiring an insured to file suit not later than one year after the date of a written denial for all or part of a claim under a policy, but the policy we’re looking at does ...Read More

Compliance Q&A: Substitute Check Disclosure

Breaking, Compliance Q&A, Publications

Question: I noticed that a lot of banks no longer hand out the substitute check consumer awareness disclosure. Was the requirement to disclose this information revised as part of the regulation CC amendments? Answer: The likely reason that you are seeing fewer of these ...Read More

Compliance Q&A: Threshold Changes to Reg CC

Breaking, Compliance Q&A, Publications

Question: This is regarding the recent threshold changes to Regulation CC. Since we have same-day availability and the amounts are actually in the customers’ favor, do we have to do a change notice to reflect the new funds availability thresholds? Answer: Yes, it would ...Read More

Compliance Q&A: POS Transaction Dispute

Breaking, Compliance Q&A, Industry Reports, Publications

Question: If a consumer is disputing a POS transaction and it is not fraud (i.e. merchandise never received, service canceled and company debited account or any other reason than a fraud transaction), are we required under Reg. E to give provisional credit while we ...Read More