Financial Institutions with less than $1 Billion in Assets Exempt; Financial Institutions with less than $50 Billion in Assets Subject to Less Restrictive Provisions
The National Credit Union Association (the “NCUA”), recently released a draft of their Proposed Rule (the “Proposed Rule”) on…
As seen in the April 2016 issue of the Indiana Banker Association's Hoosier Banker.
Treasury management agreements often remind me of the Winchester Mystery House.
The Winchester Mystery House is a beautiful, sprawling and bizarre Victorian mansion located in San Jose, California. The story goes…
As seen in the April 2016 issue of the Indiana Banker Association's Hoosier Banker.
Question: We have experienced several losses in recent months through check fraud. While we have been working with local law enforcement to identify the guilty parties, we have been told that law enforcement…
As seen in the March 2016 issue of the Indiana Banker Association's Hoosier Banker.
Question: When a customer pays off a home equity line of credit, how quickly do we have to release the mortgage? Can we require the customer to provide written notice of intent to close the account before…
The Consumer Financial Protection Bureau (the “CFPB,” or the “Bureau”) continuing its focus on the auto finance industry, recently announced a Consent Order (available by clicking here), with a small Buy Here Pay Here (“BHPH”) auto dealer called Herbies Auto Sales (“Herbies”) for a series of…
Question 1: We have customers who winter in Florida and Arizona. We also have customers who live across the state line in Illinois and Michigan. Can we honor a power of attorney (POA) that was signed in another state, or does the POA paperwork have to be signed in Indiana?
Answer: Yes, you can honor…
As seen in the January 2016 issue of the Indiana Banker Association's Hoosier Banker.
Question 1: Indiana law provides for a $50 loan origination fee that is earned at closing; however, if that amount is financed into the principal loan amount, are we still in compliance if we assess interest on…
Treasury management agreements often remind me of the Winchester Mystery House.
The Winchester Mystery House is a beautiful, sprawling, and bizarre Victorian mansion. The story goes that Sarah Winchester, reeling from the untimely deaths of her infant daughter and husband,…
On December 4, 2015, President Obama signed a highway bill, the “Fixing America’s Surface Transportation Act” (the FAST Act). Tacked onto this bill were numerous amendments to banking, securities, and housing laws that are intended to provide "regulatory relief to facilitate capital formation,…
As seen in the December 2015 issue of the Indiana Bankers Association's Hoosier Banker
In merger and acquisition transactions, buyers and sellers should both take care to ensure compliance with regulatory requirements prior to applying for merger approval. Failure to do so may put the acquirer…
As seen in the December 2015 issue of the Indiana Banker Association's Hoosier Banker.
Question: Does Indiana have any state law protections for members of the military that I need to comply with? If so, are there Indiana-specific requirements broader than the federal requirements that we have…
On October 8, 2015 the Consumer Financial Protection Bureau (the “CFPB” or the “Bureau”) issued new guidance (the “Guidance”) on the Real Estate Settlement Procedures Act’s (“RESPA”) anti-kickback provisions[1] and how they relate to marketing services agreements (“MSA(s)”).[2] Unfortunately the…
