Industry Reports | Alabama Bank News

Banking On Inclusion: America’s Banks Embrace Bank On Movement

Breaking, Industry Reports, Publications

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

Compliance Q&A: FDCPA and Debt Collectors

Breaking, Compliance Q&A, Industry Reports, Publications

Q: For a debt-collector within the meaning of the FDCPA, what are some of the restrictions around communicating with a borrower regarding a debt? A: The FDCPA, § 805, sets forth the following procedural requirements that apply to debt-collectors within the meaning of the ...Read More

Offer Customers the Services They Need and Let Them Decide

Breaking, Industry Reports

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

Time’s Up: Congress Must Stop Credit Union Purchases of Taxpaying Banks

Breaking, Industry Reports

by Rob Nichols, American Bankers Association After tapering off during the pandemic, the trend of credit unions buying taxpaying community banks is back—and credit unions are becoming more aggressive than ever in their pursuit of acquisition targets. The first half of 2021 has already ...Read More

Breaking, Compliance Q&A, Industry Reports, Publications

Q: A borrower passed away, leaving the property to her daughter. The borrower’s outstanding debt remains, and the daughter applied for a loan to pay off the debt. With respect to HMDA requirements, what type of loan is the daughter applying for? A: This ...Read More

Capitol Notes: Regular Session Ends

Breaking, Capitol Notes, Industry Reports, Legal, Politics, Publications

The 2021 Regular Session of the Alabama Legislature ended its 30th and final legislative day at 11:59 p.m. on Monday, ending one of the more unusual sessions in recent memory. In typical fashion, the last legislative day was full of high drama in both ...Read More

Compliance Q&A: Domestic Wire Transfers & OFAC Checks

Breaking, Compliance Q&A, Industry Reports, Publications

Q: Are banks required to perform OFAC checks on incoming domestic wire transfers? A: OFAC requires banks to implement a program in accordance with the bank’s size, complexity, risk-factors, and other criteria, in order to block transactions with certain individuals and counties on the ...Read More

Capitol Notes/State House Update: Week 9

Breaking, Capitol Notes, Industry Reports, Legal, Politics, Publications

MONTGOMERY, Ala., April 2, 2021 — The Alabama Legislature returned this week from its planned spring break period ready to begin the second half of the 2021 Regular Session. Representatives and senators met in chambers for two legislative days and have now completed 18 ...Read More

Capitol Notes: Week 8 Recap

Breaking, Capitol Notes, Industry Reports, Legal, Politics

MONTGOMERY, Ala., March 25, 2021 — The Alabama Legislature took a planned one-week Spring Break this week. The session is just over halfway complete, with 14 of the session’s 30 legislative days remaining. Legislators will return to Montgomery on Tuesday for the 17th legislative ...Read More

Easing the Transition from LIBOR to SOFR

Board Briefs, Breaking, Industry Reports, Legal, Publications

by Steven Connor and Dustin Timblin, Waller A few months ago, the Ice Benchmark Administration and Financial Conduct Authority announced that most tenors of LIBOR would continue to be published through June 30, 2023, rather than the end of 2021 as previously anticipated. Although ...Read More

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