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 …

Deceptive Use of a Bank’s Name in Soliciting Customers Insurance Practices Disclosure of Non-Authorization Comparing the Statutes Exploitation of Disabled or Elderly Adults “Elderly” Defined “Disabled” Not Defined "Lacks Capacity to Consent” “Exploitation” Defined Criminal Penalties Knowledge of Incapacity Reporting to Authorities

Amendments to Deposit Account P.O.D. Provisions Understanding the Customer’s Needs First-Choice/Second-Choice POD Authority Charity as POD Beneficiary Required Notice to Accountholders New Provision for Safe Deposit Box “Access on Death”

Increased Deposit Insurance Limits for Retirement Accounts “Self-Directed” Requirement Multiple Accounts Credit Unions Funding Opportunities Statement Stuffers Future Increases in Deposit Insurance Feasibility Studies Other Details of Deposit Insurance Reform Legislation Merged Insurance Fund Modified Reserve Ratio Dividend of Excess Funds Credit against Assessments Fund Restoration Plans Cross-Border Scams–Overpaying by Check, Wiring Back Money Procedures to Avoid Losses on Check …

Higher Debt Allowed for $150-500 Million Holding Companies Some Advantages Permitted Debt Ratios Reason for the Change Additional Restrictions More New Changes to Regulation E Disclosure at ATM’s Preauthorized Debits Good Faith Errors Stop Payments Extended Time for Raising Errors Extent of Error Investigation Using Multiple CIP Approaches

Electronic Check Conversion under Regulation E Electronic Check Conversion Reg E Initial Disclosures Some Exceptions Check Conversion by Merchants Notice at POS Locations Notice for Billing Statements Coupon Books Authorization at POS Authorization on Billing Statements Comparison to ACH Rules Third Party Payment Advantages for Payees Disadvantages for Consumers?

Fair Credit Regulation Restricts Use of Medical Information Background “Medical Information” Examples of Not Evaluating Credit Unsolicited Medical Information Financial Information Exception Permitted Gathering of Financial Information Proper Financial Use of Medical Information Improper Use of Medical Information Other Permitted Exceptions Proper Use of Exceptions Limits on Re-disclosure Affiliate Sharing

Fed’s Warranty of Authorization for “Telephone Checks” Background Who Uses “Telephone Checks”? What Checks are Covered? Warranty of Authorization FTC Telemarketing Rule Interviewing the Customer   Removing the “Midnight Deadline” Fraud and Errors Limitation on Returning Checks The OBA’s Involvement Homestead Exemption in Oklahoma Bankruptcies: What’s the Dollar Limit?

Important Issues in Establishing Tragedy Accounts Using a Real Payee Endorsement Risk Tragedy Victim as Owner? Tax-Deductible Entity Setting up a Trust UTMA Account Risk-Based Approach Bank-Sponsored Account Guidelines for Residential Tract Development Loans Appraisal Methods            Appraising Lots to be Developed        Loan-to-Value Ratios           Single-Unit Construction Loans        Substituting/Releasing Collateral    What is the Loan Amount? Commitment …

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