Industry Reports 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

Since Jan. 1, Alabamians have been eligible to open a new type of tax-advantaged savings account designed to encourage home ownership. Known as an “Alabama First-Time and Second Chance Home Buyer Savings Account,” eligible account holders – an individual who resides in Alabama and ...Read More

Major issues are still on tap in the fledging 2019 Regular Session, with more controversial topics popping up seemingly every week. As legislators began the third week of the session, issues such as repealing “Common Core,” legalizing medical marijuana, and adopting one of two ...Read More

Alabama banks had a big day in court last Friday, as the Alabama Supreme Court withdrew a harmful 2018 opinion related to future advance mortgages.  In September 2018, the Court ruled in GHB Construction v. West Alabama Bank & Trust that a future advance ...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

All mortgage lenders can now offer down payment assistance program In order to make the Step Up program more accessible, AHFA now allows participating lenders with Correspondent TPO Operations to deliver third party-originated loans. This change is designed for mortgage lenders that are interested ...Read More