Alabama Bank News

Employee Stock Ownership Plans: A Strategic Alternative for Banks

Board Briefs, Breaking, Publications

by David Joffe, Bradley There are approximately 800 banks in the United States that sponsor an employee stock ownership plan (ESOP). Although some banks have ESOPs that own a significant portion of their common stock, most bank ESOPs are small, minority holders. Used in ...Read More

S. 2155: Now for the Just-as-Hard Part

Breaking, Industry Reports, Politics, Publications

By Rob Nichols, American Bankers Association President & CEO Prior to May 24, 2018, bankers may have had a hard time remembering what a big win in Congress looked like. It’s true that in the past year we saw important progress with the enactment ...Read More

“Kickback and Relax” is not a RESPA Compliance Strategy

Board Briefs, Breaking, Publications

by Brian Fink The recent resolution of the PHH case is good news for banks that originate mortgages. The court vacated the CFPB’s $109 million fine for PHH’s alleged violations and provided helpful guidance regarding the permissibility of working with others—even if a referral ...Read More

Cryptocurrencies from a Tax Perspective – Understanding Taxation for Digital Currencies

Board Briefs, Breaking, Publications

by Houston Holmes, Porter Keadle Moore While cryptocurrency’s role in traditional banking is still being defined, the reality is that consumers are choosing to invest in it. And, because banks desire to be consumers’ primary partner in all money-related activities, increased market adoption of ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports

By Charles W. Prueter, Waller Awaiting the end of June with great anticipation is an annual affair for Court watchers around the country. Many of the most consequential and ground-breaking decisions each year are released in June, as the Supreme Court closes the term ...Read More

The Shape of Banks to Come Part II

Board Briefs, Breaking, Publications

by Nancy A. Bush We have previously discussed at length the changes taking place in the competitive environment of the banking industry—the challenges facing the major banks as they continue to grapple with regulatory deposit caps, the cut-throat competition for both loans and deposits ...Read More

Does Your Bank’s Website Invite ADA Lawsuits?

Board Briefs, Breaking, Publications

by Brian J. Malcom Does your bank have a website? Unless your bank uses an abacus to tally deposits, the answer is probably yes. If so, do you know if your bank’s website complies with the Americans with Disabilities Act (“ADA”)? Did you even ...Read More

Successful Primary Election for BankPAC

Board Briefs, Breaking, Publications

Through its state political action committee, BankPAC, the Alabama Bankers Association made numerous campaign contributions to candidates who emerged victorious from last night’s Republican and Democratic Primary Elections. Specifically, candidates in 73 statewide executive, judicial, and legislative races received a combined total of $247,500 ...Read More

FinCEN Announces Update to the Suspicious Activity Report (SAR)

Breaking, Industry Reports

In late January of 2018, FinCEN announced the update to the Suspicious Activity Report (SAR) that will be available on June 22, 2018. The updated SAR form has been revised and includes half a dozen changes. These changes include: a new field that will ...Read More

Count Down to The New Lease Accounting Standards: What Bankers Can Expect

Board Briefs, Breaking, Publications

As we head into spring, one of the biggest changes in public accounting standards is looming closer each day. In 2016, the Financial Accounting Standards Board (FASB) announced an accounting standards update (ASU) — ASU No. 2016-02 — which will improve the ways banks ...Read More