December | 2018 | Alabama Bank News

Compliance Question of the Week: Reg E and Bookkeeping and Posting Errors

Breaking, Industry Reports

Question: If the bank identifies a bookkeeping error or a posting error prior to a commercial customer notifying the bank, does the bank still need to fill out the error resolution form and/or follow the procedures set out in Reg. E for errors? We know ...Read More

What the Midterms Mean for Community Banks

Board Briefs, Breaking, Industry Reports, Politics, Publications

by Brian Malcom, Waller It is finally over. No more robocalls. No more yard signs. No more poorly-produced television commercials. The midterms are behind us. A few results are still being counted, but the landscape is clear. Democrats will have a majority in the ...Read More

Commercial Loans and the FCRA

Breaking, Industry Reports

By Victoria E. Stephen The Fair Credit Reporting Act, or FCRA for short, basically regulates the furnishing and collecting of credit information and imposes certain disclosure requirements in connection with accessing credit reports. The FCRA itself is a statute and only a few parts ...Read More

Compliance Q&A: Reg O

Breaking, Industry Reports

Question: Would the bank be violating Reg. O if it offered a higher Money Market rate for just shareholders? Answer: There is not a direct prohibition in Reg. O, since it primarily governs credit and not deposit accounts, like money market accounts. However, many banks have ...Read More

Breaking, Industry Reports

Question: I have a loan officer who issued a loan estimate that predates the application date by 1 day. While I don’t believe this to be best practice, I’m not certain whether it’s also a violation of regulation. Can someone please confirm? Answer: Assuming the required ...Read More

Supreme Court Update for Banking and Financial Services Professionals

Breaking, Industry Reports, Politics, Publications

by Charles W. Prueter, Waller The benefits of arbitration to frequent and experienced litigants are widely known. For example, discovery generally is more limited, the length of the entire proceeding typically is shorter, the information at the center of the dispute more easily remains ...Read More

Monthly Archive:: December 2018