Breaking | Alabama Bank News

Compliance Question of the Week: Reg DD and Advertising requirements

Breaking, Industry Reports

Question: Under Reg. DD, if a time account product is advertised generally is there a requirement to provide the term for CDs if a specific CD product is not advertised, and instead, simply that time accounts are among products offered? Answer: No, you’re not ...Read More

Door Hangers and Red Flags

Board Briefs, Breaking, Legal, Publications

by Elena A. Lovoy, McGlinchey Stafford As the leaves begin to change colors and football games fill our calendars, it remains business as usual (or unusual) in residential mortgage lending. Two interesting developments shed light on how far a court may be willing to ...Read More

Compliance Question of the Week

Breaking, Industry Reports, Legal

Question: For the Reg. DD – “indoor signs” exception in Section 1030.8(e)(2), I see that indoor signs are exempt from: permissible rates, when additional disclosures are required, bonuses, and certain media exemptions. My question is whether “when additional disclosures are required” includes, for example, an ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Legal, Politics, Publications

by Charles W. Prueter In the last installment of the Update, I wrote about then-Judge Brett Kavanaugh’s commitment to textualism and the separation of powers. Suffice to say, nobody has thought much about any legal doctrines or methods over the month since. Nevertheless, here ...Read More

Dealing with Appraisal Actions in Bank M&A

Board Briefs, Breaking, Industry Reports, Publications

by James H. White, III Author’s note: The following is a memorandum from an investment bank to a hypothetical bank client faced with the possibility of a dissent and appraisal action in connection with a sale of the bank. Confidential Memorandum To: Community Banker ...Read More

Compliance Question of the Week

Breaking, Industry Reports

QUESTION: Under Reg. Z, the NMLS ID and name would be required on mortgage, note, application, LE and CD for any dwelling-secured loan. Is that correct? ANSWER: Reg. Z section 1026.36 requires the NMLS ID to be on the note, security instrument, application, ...Read More

Equity Incentive Plans – is Your House in Order?

Board Briefs, Breaking, Legal, Publications

by Andrew S. Nix, Maynard Cooper & Gale Equity incentives can be a very effective component of a bank’s compensation program. When used properly, equity incentives can help advance a bank’s business strategy, link pay and performance and provide a competitive advantage in recruitment ...Read More

Medicare Part D Notices Due Soon

Breaking, Health Care Alert, HR News, Publications

Employers that provide prescription drug coverage must annually provide a notice related to the credibility of said coverage to all employees, dependents, and COBRA beneficiaries – no later than the beginning of the annual Medicare open enrollment period of October 15th. Which Employers Must ...Read More

Compliance Question of the Week

Breaking, Industry Reports, Publications

Question: The credit reports we use are through the company Factual Data. This company retrieves the information from Equifax and on our tri-merge requests, retrieves from all 3 consumer reporting agencies. We have been putting on the denial letters the address and phone numbers of ...Read More

D&O Insurance for Financial Institutions

Board Briefs, Breaking, Industry Reports, Publications

by Heather Howell Wright and Stewart Cox Directors and officers (D&O) insurance policies provide protection to the directors and officers of a company for claims asserted against those directors and officers arising from the management of the company. D&O policies may also protect the ...Read More

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