Legal Briefs

Final Guidance on Sound Incentive Compensation Policies Interim Rule Requires New Disclosures for Consumer Mortgage Loans; Compliance Deadline January 30, 2011 New TILA Requirement of Notice When Mortgage Has Been Sold or Transferred; Compliance Mandatory January 1, 2011 Department of Justice Final Rule on ADA Standards for Accessible Design and New Proposed Rules Will Affect Banks Compliance Dates Roundup

Final S.A.F.E. Act Rule Adopted School Warrants – A Primer Oklahoma H.B. 2936 Increases Fees for Compliance with State-Court Subpoenas Effective 11/1/2010 HOEPA Dollar Trigger Increased Effective 1/1/2011 Compliance Dates Roundup  

New Same-Day FedACH Service Available August 2, 2010 Avoiding Potential Pitfalls With Motor Vehicle Liens Oklahoma Department of Consumer Credit Updates Statutory Dollar Amounts Effective July 1, 2010 Regulators Issue Final Guidance on Correspondent Concentration Risks

Clarifications Made to Reg E Regarding Restrictions on Overdraft Charges on ATM and One-Time Debit Card Transactions Further Revisions to Reg E (Overdraft Protection) HIRE Act Provides Tax Incentives to Employers to Hire in 2010   FDIC Issues Guidance for Periods of Lapse of Flood Insurance Authority   Executive Order 13496 Requires Posting of Notice of Employees Right to Organize …

TAG Program Extended Through December 31, 2010 Mortgage Loan Officers Not Exempt Under FLSA According to New DOL Interpretation Banks’ Right of Setoff vs. Federal Exemption for Social Security and Other Exempt Federal Benefits – Which Wins? S.A.F.E. Act Update Compliance Dates Roundup

‘ABC’s of Handling Repossessed Property 2010 Provides Unique Opportunity to Defer Tax on Roth IRA Conversions Floor Plan Lending Presents Special Challenges (maybe from your regulator) When a Horse Is “Equipment” – It could only be the UCC Compliance Dates Roundup

Raffles and Giveaways and Lotteries, Oh My! What Can/Can’t a Bank Do? FACT Act Changes Mandatory July 1, 2010 (Reg V) Yet More Changes Affecting Open-End Credit to Consumers (Reg Z) Effective February 22, 2010 and July 1, 2010 Reminder: Escrow Required for HPMLs for All Applications Received after April 1, 2010 Compliance Dates Roundup

  Regulators Adopt Final Rule Implementing New FASB Standards 166 and 167 Perfection and Priority in Certificates of Deposit Despite Tough Legal Framework, Banks Can Take Steps to Protect Themselves from Losing Business to a Departing Employee Upcoming Compliance Dates (New Feature!)

Reg CC Update: All Checks Are Local Effective 2/26/2010 Taking Cashier’s Checks for Deposit in Today’s Environment of Fraud   Revisions to Reg Z for Higher Education Opportunity Act Have Compliance Deadline of 2/14/2010   Provisions of Credit Card Act Effective 2/22/2010   HOEPA Fee Trigger Lowered For 2010

Clarification from Federal Reserve Supports Viability of Short-Term Balloon Notes in Spite of HPML Changes  Reg GG Implementation Deadline Extended at Last Minute to June 1, 2010   Recent Reg CC Changes: We Are Quickly Heading Toward All Local Checks   Final Rule Revising Reg E Restricts Overdraft Charges on ATMs and One-Time Debit Card Transactions Effective July 1, 2010   …