Alabama Bank News

Question: With regard to the FDIC’s Part 350 Annual Disclosure Statement rescission, would it only apply to one of our charters or would it apply to the holding company and everything under it as a whole? We are two chartered banks under one holding ...Read More

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

Question: When is the deadline to provide a PMI notice of cancellation/termination? Answer: Assuming this is subject to the Homeowners Protection Act, the bank has 30 days after the PMI relating to a residential mortgage transaction is canceled or terminated to send out a ...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

by Fob James, Burr & Forman On Jan. 23, TechCrunch reported that more than 24 million mortgage and banking documents were left exposed on the internet in an unprotected environment for approximately two weeks. Ascension, which provides data analytics and document management services to ...Read More

Since Jan. 1, Alabamians have been eligible to open a new type of tax-advantaged savings account designed to encourage home ownership. Known as an “Alabama First-Time and Second Chance Home Buyer Savings Account,” eligible account holders – an individual who resides in Alabama and ...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