Breaking Archive

House Bill 419, the Financial Institution Excise Tax Reform Act, was amended and favorably reported by the House Ways & Means – General Fund Committee on Wednesday. Thanks to the good work of the bill’s sponsor, Rep. Kyle South (R-Fayette), committee members had no ...Read More

Question: We escrow for taxes and insurance. This is not an HPML loan nor is flood insurance required in this situation. The taxes, with respect to this loan, are subject to a continual homestead credit that exceeds the tax charge. So, year after year, ...Read More

by Jenny McCain, Maynard Cooper & Gale As your bank grows either organically or through a merger/acquisition, it’s important to make sure the internal operations, overall organizational structure and “governance” considerations grow with it. Banking organizations that have historically operated in the $100-$200 million ...Read More

Question: We are selling one of our branches next month. The branch only has one HMDA loan to date. Do we need to report that loan on the HMDA LAR? The bank that is purchasing the branch is not a HMDA-reporting bank. Answer: Assuming ...Read More

Question: On a business loan where we have personal guarantees, do we have to check MLA on the guarantees, since they are acting as individuals?   Answer: No, because a business loan is not a covered transaction under the MLA. The MLA applies to ...Read More

by Charles W. Prueter Today, in an homage to federalism, the Update takes a look at a recent decision from the Supreme Court of Alabama that undoubtedly is of interest to the banking and financial services community. As readers will know, the Supreme Court ...Read More

by Brian Malcom, Waller The Second Circuit recently upheld a court order holding two individual co-owners and co-directors of several corporate debt collector entities personally liable for over $10 million after such entities violated the Federal Trade Commission Act (FTCA) and the Federal Fair ...Read More