March | 2023 | Alabama Bank News

Compliance Q&A: Beneficial Ownership Form Considerations

Breaking, Compliance Q&A, Publications

Question: When purchasing loan, do we need to collect a beneficial ownership form? If so, will collecting after the loan is purchased acceptable? Answer: IP guidance suggests that for purchased loans banks are required to ensure that the institution or broker that originated the ...Read More

Compliance Q&A: NOI Deadline Considerations

Breaking, Compliance Q&A, Publications

Question: We sent a notice of incompleteness to a customer and one of the items they need more time to get this info. It is permissible to provide another notice of incompleteness (“NOI”) to extend the current NOI deadline for a later date? Answer: ...Read More

Capitol Notes: Regular Session Reconvenes

Capitol Notes, Industry Reports, Legal, Publications

Lawmakers met this week and reconvened the 2023 Regular Session. Below is a recap of the proceedings. Next week legislators will take spring break. Budgets Released Gov. Kay Ivey transmitted her budget proposals to the Legislature this week as the Regular Session reconvened after ...Read More

Capitol Notes: State of the State

Breaking, Capitol Notes, Politics, Publications

The Alabama Legislature gaveled in to begin the first year of its new quadrennium on Tuesday The first day of the session culminated in a joint session where Gov. Kay Ivey presented out her agenda during her State of the State address. Ivey urged ...Read More

Monthly Archive:: March 2023