Alabama Bank News

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

Q: Can a large deposit hold be placed on a next day item (cashier’s check) for the amount over $5,525? A: Yes, Reg CC allows this for cashier’s checks or treasury checks. Members commonly believe that they cannot place any exception hold on a ...Read More

Q: Do we have any TCPA issues making phone calls to current customers to sell them other bank products? A: Generally, if you have an established business relationship with the customer, there would be no compliance issues with TCPA to call them and sell ...Read More

Q: Would it be a requirement of any regulation for an institution to get a written cancellation request from a borrower to cancel automatic loan payments from a deposit account? We hold the Note and the account. Do we need the request to be ...Read More

by Rob Nichols, American Bankers Association As I traveled the country this summer speaking at various state bankers association conventions, I’d always ask this question of my audience: How many of you have clients and customers that are asking you about cryptocurrencies and digital ...Read More

Question: Have there been any changes to UDAAP recently? One of our providers has made changes to some of their documentation involving UDAAP and we are wondering if there has been a recent change.  Answer: Yes, the CFPB recently updated its UDAAP exam procedures ...Read More

Question:  Our current SCRA procedures say that the interest rate should be retroactively applied to the date on which the service member was called to military service. In the case of a member of the reserve, though, would that be the date that they ...Read More