Alabama State Banking Report
March 25, 2019
State Banking Board
On March 14, the Alabama REALTORS® Public Policy Team attended the State Banking Board meeting to monitor for impacts on the real estate industry and homeowners. State banking regulations can affect homebuyers, investments, loans and home mortgages.
Superintendent Mike Hill welcomed new board member Tranny Arnold of BBVA Compass. The Board members then heard reports from the State Banking Department management staff. It was reported that bank status ratings have improved and have more than tripled their ratings since 2008. With at least 100 banks being rated highly, the state is only down to five problem banks.
Alabama State Banking Board Background
Established in 1911, the State Banking Department is the state agency that charters, regulates and examines banks and trust companies chartered by the State of Alabama. The Department also has regulatory and licensing authority over lenders, mortgage brokers, payday lenders and pawnshops conducting business in Alabama.
The AAR Public Policy Team will continue to monitor state regulatory agencies for potential impacts on REALTOR® members, the real estate industry and private property owners.