Wednesday, February 21, 2024

Legal Briefs

April 2007 Legal Briefs

  1. Stale-Dated Checks: Should the Bank Pay Them or Not?
    1. What the Statute Says
    2. Bulk Filing
    3. Regulation CC Exception Hold
    4. Whether to Pay or Not?
    5. Some Possible Approaches
    6. When is an Old Check No Longer Good?
  2. Reasons for Returning Checks within the Midnight Deadline
    1. The Bulk Filing Issue
    2. Having a Valid Reason for Return
    3. Reasons Limited to the Midnight Deadline
    4. “Refer to Maker”; Kiting
    5. “Account Closed”
    6. Forged Checks
    7. Dummy or Counterfeit Checks

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March 2007 Legal Briefs

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

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January 2007 Legal Briefs

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

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December 2006 Legal Briefs

Defense Authorization Act – Restrictions on Loans to Service Members and Their Dependents

  1. Background
  2. What Transactions are Covered?
  3. “Interest” Limited to 36%
  4. All Fees are “Interest”
  5. New Definition of “APR”
  6. No Lender Access to Bank Account
  7. No Renewal of Debt
  8. No Mandatory Arbitration
  9. Non-complying Contracts Void
  10. Criminal Provision
  11. What Persons are Covered?

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November 2005 Legal Briefs

Processing through Dallas Fed Affects Availability Schedule

FDIC Guidance on Establishing a Bank Ethics Program

  1. Written Bank Policies
  2. 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

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November 2006 Legal Briefs

Pension Reform: Useful Changes to IRA Provisions

  1. IRA Contribution Limits.
  2. Tax Refunds & Other Transfers to IRA’s.
  3. IRA’s of Guards & Reservists.
  4. IRA Distributions to Charities
  5. Understanding the Tax Advantages:
  6. 50% limit on charitable contributions doesn’t apply.
  7. Deductions and credits don’t phase out. 
  8. Reducing RMD’s in future years. 
  9. Rollover to “Inherited IRA”
  10. Easier Conversion to Roth IRA’s

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October 2006 Legal Briefs

Cleanup Changes in 2006 to Mechanic’s Lien Provisions

  1. Background
  2. Obsolete Provisions
  3. What Services Are Covered
  4. Certificate of Title Property with Liens
  5. Change in Time Period
  6. Rental-Related Changes to Section 91
  7. Revisions to Section 180
  8. "Other Property” Mechanic’s Liens
  9. Section 91A vs. Section 197
  10. Section 91A Notice Procedures
  11. Assistance in Researching Titles
  12. Property Removed without Permission; Release Obtained by Bad Check
  13. Service Provider’s Right to Repossess

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September 2006 Legal Briefs

Payroll Card Accounts & Regulation E Changes

  1. “Payroll Card Account”
  2. DHS Cards vs. Payroll Cards
  3. Is a Payroll Card Useful?
  4. Advantages to Consumers
  5. Employer Considerations
  6. Advantages for Banks
  7. Payroll Cards Not Mandatory?
  8. No Periodic Statements
  9. Consumers Who Don’t Want Statements
  10. Error Resolution
  11. Limits on Liability
  12. Modified Disclosures

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August 2006 Legal Briefs

New Law Provides for Credit Report Freezes

  1. Legislative Background
  2. Security Freeze Request
  3. Authorizing a Temporary Release
  4. Is a “Freeze” a Good Idea?
  5. Assistance with Temporary Releases
  6. Assistance with Security Freezes
  7. Lender Exceptions to Security Freeze
  8. Other Exceptions to Security Freeze
  9. Excluded Entities
  10. Notice of Changes
  11. Security Freeze Notice Required
  12. Fines & Penalties

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May 2006 Legal Briefs

Consumer Loan Dollar Amounts Adjusting on July 1    

  •  a. Increased Late Fees  
  •  b. “508B” and “508A” Loans  
  •  c. Dealer Paper “No Deficiency” Amount  

Money Transmitters Must Register With Banking Department

July 1 Deadline for Continuation Statements for Oil and Gas

Searching UCC-1’s in Only One Filing Office as of July 1, 2006

Duration of Fixture Filings Related to Manufactured Homes

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July 2006 Legal Briefs

Deceptive Use of a Bank’s Name in Soliciting Customers

  1. Insurance Practices
  2. Disclosure of Non-Authorization
  3. Comparing the Statutes

Exploitation of Disabled or Elderly Adults

  1. “Elderly” Defined
  2. “Disabled” Not Defined
  3. "Lacks Capacity to Consent”
  4. “Exploitation” Defined
  5. Criminal Penalties
  6. Knowledge of Incapacity
  7. Reporting to Authorities

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June 2006 Legal Briefs

Amendments to Deposit Account P.O.D. Provisions

  1. Understanding the Customer’s Needs
  2. First-Choice/Second-Choice POD Authority
  3. Charity as POD Beneficiary
  4. Required Notice to Accountholders

New Provision for Safe Deposit Box “Access on Death”

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April 2006 Legal Briefs

Increased Deposit Insurance Limits for Retirement Accounts

  1. “Self-Directed” Requirement
  2. Multiple Accounts
  3. Credit Unions
  4. Funding Opportunities
  5. Statement Stuffers
  6. Future Increases in Deposit Insurance
  7. Feasibility Studies

Other Details of Deposit Insurance Reform Legislation

  1. Merged Insurance Fund
  2. Modified Reserve Ratio
  3. Dividend of Excess Funds
  4. Credit against Assessments
  5. Fund Restoration Plans

Cross-Border Scams–Overpaying by Check, Wiring Back Money

Procedures to Avoid Losses on Check Scams

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