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Compliance Q&A: TCPA Issues

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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

Compliance Q&A: CIP Verification Considerations

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Q: If an individual named as a beneficial owner of a new legal entity account is an existing customer of the covered financial institution subject to the financial institution’s CIP, is the bank still required to identify and verify the identity of this individual ...Read More

Breaking Down the Debate over Digital Assets

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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

Compliance Q&A: Recent UDAAP Changes

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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

TRID Construction Loan Considerations

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QUESTION: For a TRID construction loan disclosed as two transactions, what should we disclose as the interest rate if it’s variable we don’t know what the rate will be during the permanent phase? ANSWER: If it will have an adjustable rate and the rate ...Read More

Compliance Q&A: SCRA Procedure Considerations

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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

Alabama Election Overview

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(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

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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

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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

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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

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