Alabama Bank News

Compliance Q&A: Homebuilders and Lines of Credit

Q: We provide lines of credit to home builders using a ‘master note’ and then use sub-notes for each
Compliance Q&A: Loan Denials and Adverse Action Notices

Q: If a bank has three applicants who are denied a loan and the reasons for the denial are
Compliance Q&A: FDCPA and Debt Collectors

Q: For a debt-collector within the meaning of the FDCPA, what are some of the restrictions around communicating with
Offer Customers the Services They Need and Let Them Decide

by Mark Roe, Executive Vice President of National Sales It’s been more than a year since the coronavirus pandemic

Compliance Q&A: Homebuilders and Lines of Credit

Breaking, Compliance Q&A, Publications

Q: We provide lines of credit to home builders using a ‘master note’ and then use sub-notes for each specific construction loan. Our question stems from the appraisal notice that is required to be given within 3 days of application. Is the bank required ...Read More

Compliance Q&A: Loan Denials and Adverse Action Notices

Breaking, Compliance Q&A, Publications

Q: If a bank has three applicants who are denied a loan and the reasons for the denial are different for each, does each borrower need to get an adverse action notice, stating the specific reason for denial for that applicant, or can one ...Read More

Compliance Q&A: FDCPA and Debt Collectors

Breaking, Compliance Q&A, Industry Reports, Publications

Q: For a debt-collector within the meaning of the FDCPA, what are some of the restrictions around communicating with a borrower regarding a debt? A: The FDCPA, § 805, sets forth the following procedural requirements that apply to debt-collectors within the meaning of the ...Read More

Offer Customers the Services They Need and Let Them Decide

Breaking, Industry Reports

by Mark Roe, Executive Vice President of National Sales It’s been more than a year since the coronavirus pandemic disrupted our businesses and our lives. And while there are encouraging signs of improvement in the economy, unemployment numbers continue to fluctuate. And while some ...Read More

Compliance Q&A: Reg DD and Advance Notice

Breaking, Compliance Q&A, Publications

Q: We’re going to be changing our disclosures in a way that we believe would require us to give a 30-day advance notice under Regulation DD. I know that Reg DD applies to consumers, but what about consumers that have DBA accounts? A: You ...Read More

Time’s Up: Congress Must Stop Credit Union Purchases of Taxpaying Banks

Breaking, Industry Reports

by Rob Nichols, American Bankers Association After tapering off during the pandemic, the trend of credit unions buying taxpaying community banks is back—and credit unions are becoming more aggressive than ever in their pursuit of acquisition targets. The first half of 2021 has already ...Read More

Compliance Q&A: TISA Disclosures and Regulation DD

Breaking, Compliance Q&A, Publications

Q: We are in the process of changing our TISA disclosures and are going to be sending out the updated disclosures soon. We are going to make sure to send out the notices at least 30 days before the effective date of any changes, ...Read More

Breaking, Compliance Q&A, Publications

Q: (CAN-SPAM): When sending unsolicited emails to non-customers, for purposes of CAN-SPAM Act, can the “from” line contain a loan officers name, instead of the entity sending the email; or must the “from” line disclose both the sender individually and the organization? A: The ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Legal, Publications

by Charles W. Prueter At least once a day, I answer my phone only to be greeted by “Heather from account services” or someone alerting me that the “warranty on your vehicle is about to expire.” (The warranty on my car expired 4 years ...Read More

Breaking, Compliance Q&A, Industry Reports, Publications

Q: A borrower passed away, leaving the property to her daughter. The borrower’s outstanding debt remains, and the daughter applied for a loan to pay off the debt. With respect to HMDA requirements, what type of loan is the daughter applying for? A: This ...Read More

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