Alabama Bank News

School Choice Clears House Committee, with Modifications Rep. Danny Garrett advanced the large-scale school choice bill championed by Gov. Kay Ivey, the CHOOSE Act, through the House Ways and Means Education Committee on Thursday.  The committee passed a substitute, which made some changes to ...Read More

House Approves Gaming, Lottery Legislation By a 70-32 vote, the House of Representatives passed a constitutional amendment allowing for casino gaming, lottery, and sports betting in Alabama, well exceeding the required 63 votes needed for passage. The House also voted 67-31 to approve legislation ...Read More

Though it’s made homeownership more affordable for nearly 5,000 Alabama households, the Mortgage Credit Certificate (MCC) is one of the most misunderstood housing programs on the market today. Tens of thousands of dollars in tax credits are available to your customers through this federal ...Read More

Bankers from across Alabama were in Washington, D.C. this week meeting with members of Congress about relevant issues impacting the banking industry. Keeping public officials abreast of legislation’s impact on our customers and institutions, including the importance of their positions on such issues, is ...Read More

Q:  On Regulation E error investigations, does a customer have to be given provisional credit if the investigation is conducted within the first day of the dispute and proven the customer is liable for the purchases? A:  You’re required to provide provisional credit if ...Read More

Question:  For the bank’s Privacy Notice, is the bank’s holding company considered an affiliate? Answer:  Reg P defines an affiliate as follows: “(1) Affiliate means any company that controls, is controlled by, or is under common control with another company.” https://www.consumerfinance.gov/rules-policy/regulations/1016/3/#a-1 Since the holding ...Read More

After a long week and late night, the budgets were presented to Gov. Kay Ivey last Friday. While there was some speculation that the governor would use her authority to veto or modify the budgets, Gov. Ivey signed both the General Fund and Education ...Read More