Alabama Bank News

By Rob Nichols, American Bankers Association America’s banks have a longstanding commitment to helping reduce the number of unbanked and underbanked individuals and families in the U.S. July marked a major milestone in that endeavor, with an announcement from the Cities for Financial Empowerment ...Read More

Q: We would like to have a giveaway contest but are concerned with the requirements under the Bank Lottery Rule. What should we consider? A: Under the Bank Lottery Rule, with the exception of a savings raffle, any advance of money or credit by ...Read More

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

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

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

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

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