Industry Reports Archive

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

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

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

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

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

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

MONTGOMERY, ALA., April 11, 2022 — The Alabama Legislature adjourned sine die last Thursday just before midnight. The last week of the session was eventful and at times dramatic. Legislative leadership expects Gov. Kay Ivey to call them back with a special session to ...Read More