Alabama Bank News

Question: We sent a notice of incompleteness to a customer and one of the items they need more time to get this info. It is permissible to provide another notice of incompleteness (“NOI”) to extend the current NOI deadline for a later date? Answer: ...Read More

Lawmakers met this week and reconvened the 2023 Regular Session. Below is a recap of the proceedings. Next week legislators will take spring break. Budgets Released Gov. Kay Ivey transmitted her budget proposals to the Legislature this week as the Regular Session reconvened after ...Read More

by Rob Nichols, American Bankers Association For community banks seeking to remain competitive in today’s crowded financial services marketplace, innovation is imperative. A relationship with a core provider can make or break an institution’s innovation goals, and for too many community banks, legacy core ...Read More

The Federal Reserve Bank of Atlanta is excited to announce the appointment of Joseph (Joe) Davidson as senior vice president of its Supervision and Regulation (S&R) Division, effective February 16. In this position, Davidson will oversee the Atlanta Fed’s supervision of state member banks, ...Read More

Question: Do Reg CC exception holds apply to check deposits drawn on foreign banks? Answer: If the check is actually drawn on a foreign bank not located in the US, it would not be considered a “check” covered by Reg. CC. Therefore, would not ...Read More

Q: If an account has multiple Pod beneficiaries on it and one beneficiary passes before the account owner, would the remaining Pod beneficiaries will receive the funds in the account upon the death of the account holder? In other words, none of the funds ...Read More

Mobile apps remain the most popular choice for most consumers when banking, according to a new survey commissioned by American Bankers Association. Research firm Morning Consult polled more than 2,200 U.S. adults about what methods they used the most to manage their bank accounts ...Read More