Legal Briefs

March 2006 Legal Briefs

Higher Debt Allowed for $150-500 Million Holding Companies

  1. Some Advantages
  2. Permitted Debt Ratios
  3. Reason for the Change
  4. Additional Restrictions

More New Changes to Regulation E

  1. Disclosure at ATM’s
  2. Preauthorized Debits
  3. Good Faith Errors
  4. Stop Payments
  5. Extended Time for Raising Errors
  6. Extent of Error Investigation

Using Multiple CIP Approaches

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February 2006 Legal Briefs

Electronic Check Conversion under Regulation E

  1. Electronic Check Conversion
  2. Reg E Initial Disclosures
  3. Some Exceptions
  4. Check Conversion by Merchants
  5. Notice at POS Locations
  6. Notice for Billing Statements
  7. Coupon Books
  8. Authorization at POS
  9. Authorization on Billing Statements
  10. Comparison to ACH Rules
  11. Third Party Payment
  12. Advantages for Payees
  13. Disadvantages for Consumers?

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January 2006 Legal Briefs

Fair Credit Regulation Restricts Use of Medical Information

  1. Background
  2. “Medical Information”
  3. Examples of Not Evaluating Credit
  4. Unsolicited Medical Information
  5. Financial Information Exception
  6. Permitted Gathering of Financial Information
  7. Proper Financial Use of Medical Information
  8. Improper Use of Medical Information
  9. Other Permitted Exceptions
  10. Proper Use of Exceptions
  11. Limits on Re-disclosure
  12. Affiliate Sharing

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December 2005 Legal Briefs

Fed’s Warranty of Authorization for “Telephone Checks”

  1. Background
  2. Who Uses “Telephone Checks”?
  3. What Checks are Covered?
  4. Warranty of Authorization
  5. FTC Telemarketing Rule
  6. Interviewing the Customer  
  7. Removing the “Midnight Deadline”
  8. Fraud and Errors
  9. Limitation on Returning Checks
  10. The OBA’s Involvement

Homestead Exemption in Oklahoma Bankruptcies: What’s the Dollar Limit?

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October 2005 Legal Briefs

Important Issues in Establishing Tragedy Accounts

  1. Using a Real Payee
  2. Endorsement Risk
  3. Tragedy Victim as Owner?
  4. Tax-Deductible Entity
  5. Setting up a Trust
  6. UTMA Account
  7. Risk-Based Approach
  8. Bank-Sponsored Account

Guidelines for Residential Tract Development Loans

  1. Appraisal Methods           
  2. Appraising Lots to be Developed       
  3. Loan-to-Value Ratios          
  4. Single-Unit Construction Loans       
  5. Substituting/Releasing Collateral   
  6. What is the Loan Amount?
  7. Commitment Duration
  8. Developing Too Many Lots
  9. Loans Exceeding LTV Ratios
  10. L.O.C. Borrowing Base

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September 2005 Legal Briefs

Small Intermediate Banks and Changes in CRA Regulations

Post-Closing “Real-Estate-Related” Fees are Finance Charges

Banks Sharing Information about Former Employees

More Details on Lottery Accounts

Public Employees’ Payroll Deductions to Financial Institutions

FDIC Statistics for Oklahoma

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August 2005 Legal Briefs

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005

  1. Bankruptcy Chapter Eligibility for Consumers and Individuals
    a.  Chapters and Restrictions
    b.  Credit Counseling
  2. Notices
  3. Exemptions
  4. Statement of Intent, Redemption, and Reaffirmation
  5. Discharge
  6. Needs-Based Bankruptcy, Presumption of Abuse, Means Test
  7. The Automatic Stay

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July 2005 Legal Briefs

  • “Four-Wheelers” Require Certificates of Title and Lien Entries
  • Continuing Liens for Repair of Farm Equipment
  • Mechanic’s Lien Provisions Changed for Motor Vehicles
  • Changes in Items of Property Exempt in Bankruptcy
  • Amendments to Family Wealth Preservation Act

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June 2005 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 

Regulation DD’s Amendments Cover Overdraft Plans

  1. Background
  2. Expanded Emphasis of Disclosures
  3. Advertising “Free” Accounts
  4. General Advertising Requirements
  5. Misleading or Inaccurate Advertising
  6. Revised Truth-in-Savings Disclosures
  7. Periodic Statement Disclosures
  8. Itemizing Fees by Type

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May 2005 Legal Briefs

Regulators Issue Guidance on Money Services Businesses

  1. Background
  2. Basic Due-Diligence Requirements for All MSB Accounts
  3. Performing Risk Assessments
  4. Risk Indicators
  5. Due Diligence for Higher-Risk Customers
  6. Suspicious Activity Reporting
  7. Review of Existing MSB Accounts
  8. Banks Not Regulators of MSB’s
  9. Guidance to MSB’s

Guidance on the Final CIP Rule

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March 2005 Legal Briefs

Banking Agencies’ Joint Guidance on Overdraft Protection

1.  Background
2.  Safety and Soundness
    a. Account-Approval Standards    
    b. Ongoing Monitoring
    c. Delinquencies and Charge-offs   
    d. Call Report Treatment
    e. Vendors    
3.  Legal Risks
    a. FTC Act/Advertising  
    b. TILA/Reg Z   
    c. Equal Credit  
    d. Truth in Savings    
    e. EFT Act
4.  Best Practices
    a. Marketing and Communications
    b. Program Features and Operation 

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February 2005 Legal Briefs

Explanation of Health Savings Accounts

  1. Background
  2. What is an HDHP?
  3. What’s the Advantage of an HDHP?
  4. What Are the Tax Advantages of an HSA?
  5. Establishing HSA’s at a Bank
  6. Special Limitations on HSA Contributions    
  7. Qualifying Medical Expenses

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January 2005 Legal Briefs

Guidelines on Security & Disposal of “Consumer Information”

  1. Broadened Emphasis
  2. What Information?
  3. Changes in Procedures and Contracts?
  4. Where to Find the New Provisions.
  5. Some Information-Protection and Information-Disposal Issues and Examples
    a. Directors’ Packets.   
    b. E-mails and Files on a Computer 
    c. Files and Other Paper Documents.

Paying Deposits to Heirs Based on Small-Estate Affidavits

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