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Alabama Election Overview

Breaking, Capitol Notes, Politics, Publications

(courtesy of Alabama Daily News) Governor Gov. Kay Ivey turned back eight primary challengers to win the Republican gubernatorial nomination without a runoff Tuesday earning about 55% of the vote. Blanchard, who served as an ambassador under former President Donald Trump, finished second at ...Read More

Compliance Q&A: Construction Loan Considerations

Breaking, Compliance Q&A, Industry Reports, Publications

Q. If the bank agrees to make an interim construction loan but the borrower has a takeout letter from another institution, is the bank required to send a permanent loan disclosure for informational purposes? A. As set out in the CFPB guidance below, whether ...Read More

Governor Ivey Appoints Hope Johnson to Alabama State Banking Board

Breaking, Industry Reports

Gov. Kay Ivey has appointed Hope Johnson to serve on the Alabama State Banking Board, representing Alabama’s 2nd Congressional District. “Banking and economic development have fueled our pursuit to strengthen Alabama’s economy,” said Gov. Ivey. “With Hope’s vast experience in various administrative positions, I am ...Read More

Fed: Banking System Remains Strong, Assessing of Fintech Risk Ramps Up

Breaking, Industry Reports

The banking system remained strong overall, with robust capital and liquidity and improved asset quality in the second half of 2021, according to the Federal Reserve’s latest supervision and regulation report released today. The Fed said that risk monitoring will continue for potential effects ...Read More

CRA Overhaul Proposed

Breaking, Industry Reports, Politics, Publications

On Thursday, the Federal Reserve, the FDIC, and the OCC issued a much-anticipated joint notice of proposed rulemaking to modernize regulations implementing the Community Reinvestment Act. The agencies proposed changes to how CRA activities qualify for consideration, where activities are considered and how they ...Read More

Push to Repeal Durbin

Breaking, Industry Reports, Politics

Ahead of the hearing in the Senate Judiciary Committee on credit and debit card interchange fees, the American Bankers Association joined a broad coalition of national industry groups to communicate to lawmakers the serious flaws of interchange regulations and push back against efforts to ...Read More

Compliance Q&A: Customer Computer Hack and Bank Liability

Breaking, Compliance Q&A, Publications

Q. Our customer received a phone call from someone telling the customer that the customer’s computer was about to be hacked. The person convinced the customer to allow a remote logon to the customer’s computer to “stop the hacking process.” In this process, the ...Read More

The CFPB: A Regulator Gone Rogue

Breaking, Industry Reports, Legal, Politics

By Rob Nichols, American Bankers Association Since arriving at the Consumer Financial Protection Bureau last October, Director Rohit Chopra has been busy. Under his leadership, the CFPB has issued nearly 60 press releases as well as multiple reports and blog posts, many critical of ...Read More

Compliance Q&A: CRA Community Development Credit Considerations

Breaking, Compliance Q&A, Industry Reports, Publications

Q. We have a designated disaster area close by and were wondering which activities in these areas would qualify for CRA Community Development? A. There are a variety of activities relating to designated disaster areas (DDA) that may qualify. Loans, investments/donations, and services that ...Read More

CFPB Report Highlights Reliance on Community Banks in Rural Areas

Breaking, Industry Reports

In a data snapshot published Tuesday, the CFPB highlighted some of the unique challenges facing rural Americans, including an increased reliance on physical bank branches, given the limited access to high-speed internet and online banking options in many of these communities. The CFPB noted ...Read More

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