Legal Briefs

Consumer Loan Dollar Amounts Adjust on July 1 Changes to Identity Theft Provisions All ATV’s Transferred After June 30, 2008 Require Titles & Liens How to Re-title a Mobile Home Merged Into the Real Estate Commissioner’s Bill Includes Several Miscellaneous Changes

Changes to Oklahoma’s Vulnerable Adult Abuse Reporting Provisions Financial Neglect; Exploitation Specific Duty to Report Avoiding Singling out Banks  Expanded DHS Powers Illegal Immigration: How H.B. 1804 Affects Banks, Other Businesses Citizenship/Immigrant Verification Independent Contractor Verification “Harboring” Illegal Immigrants Restriction on Issuing ID’s Other Provisions Economic Costs

New Oklahoma Regulations Covering Money Transmitters Returning Checks for “Breach of Presentment Warranty”

Stale-Dated Checks: Should the Bank Pay Them or Not? What the Statute Says Bulk Filing Regulation CC Exception Hold Whether to Pay or Not? Some Possible Approaches When is an Old Check No Longer Good? Reasons for Returning Checks within the Midnight Deadline The Bulk Filing Issue Having a Valid Reason for Return Reasons Limited to the Midnight Deadline “Refer …

Stop Payment Orders on Checks – Questions and Answers No Means of Stopping Payment on Cashier’s Checks Examples: When a bank would like to avoid paying a cashier’s check Is a customer’s “defense” against the payee a reason for not paying a cashier’s check? When does a bank have its own defense to paying a cashier’s check

Joint Guidance on Commercial Real Estate Concentrations

Recent Amendments to Health Savings Account Provisions HSA Contribution Amounts Reimbursing Medical Expenses Accumulating Tax-Advantaged Savings Full Deduction in First Year Transfer from IRA to HAS Index for 2006

Defense Authorization Act – Restrictions on Loans to Service Members and Their Dependents Background What Transactions are Covered? “Interest” Limited to 36% All Fees are “Interest” New Definition of “APR” No Lender Access to Bank Account No Renewal of Debt No Mandatory Arbitration Non-complying Contracts Void Criminal Provision What Persons are Covered?

Processing through Dallas Fed Affects Availability Schedule FDIC Guidance on Establishing a Bank Ethics Program Written Bank Policies Specific Provisions a. Safeguarding Customer Information b. Integrity of Bank Records c. Strong Internal Controls   d. Speaking Candidly with Examiners e. Accepting Gifts and Favors   f. Avoiding Self-Dealing   g. Observing Other Laws   h. Other Matters

Pension Reform: Useful Changes to IRA Provisions IRA Contribution Limits. Tax Refunds & Other Transfers to IRA’s. IRA’s of Guards & Reservists. IRA Distributions to Charities Understanding the Tax Advantages: 50% limit on charitable contributions doesn’t apply. Deductions and credits don’t phase out.  Reducing RMD’s in future years.  Rollover to “Inherited IRA” Easier Conversion to Roth IRA’s