Monthly Archive:: May 2019

The 2019 Regular Session will end today – Friday, May 31 – two legislative and 19 calendar days ahead of schedule. But as senators and representatives prepare to head home, plans are already being made for their return to Montgomery for the second special ...Read More

By Jenny McCain In late April, the Board of Governors of the Federal Reserve System approved a notice of proposed rulemaking that would revise the Federal Reserve’s “control” rules under the Bank Holding Company Act of 1956 (Regulation Y). These rules that establish the ...Read More

The first line of last week’s Capitol Notes remains the same for this week’s edition: “The calendar giveth, and the calendar taketh away.”  But this time, the “calendar” in question is not the one that determines when the Legislature is or will be in ...Read More

by Chris Couch, McGlinchey Boards frequently report anxiety around data security, and question whether their policies and procedures are sufficient. With the average direct cost of a security incident approaching $4 million and the indirect, reputational costs beyond calculation, it’s easy to understand why. ...Read More

The calendar giveth, and the calendar taketh away. On Thursday, the fifth and seventh floors of the Alabama State House were abuzz over rumors that the end of the 2019 Regular Session was finally in sight. Legislators, if the rumors were true, were going ...Read More

Question: By what day do we have to file the continuing activity SAR? Is it Day 90 or Day 120?   Answer: The guidance provides that “Financial institutions with SAR requirements may file SARs for continuing activity after a 90-day review with the filing ...Read More

For the Alabama Bankers Association, this was likely the most productive week of the 2019 Regular Session, as several bills discussed in previous issues of Capitol Notes took major procedural steps on Tuesday and Wednesday. For example, House Bill 304 by Rep. Merika Coleman ...Read More