Posts in Category: Procedures

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Ransomware information resources available on aba.com 

From American Bankers Association
Documents to help you identify various forms of malware, outline preventative measures, business continuity considerations, and know what to do if infected with ransomware and how law enforcement can assist are now available at a newly created ransomware issue page from the American Bankers

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Repossess Consumer Automobiles? You Could Be At Risk For A Costly Class Action Lawsuit. 

by Adam Cornett, Senior Attorney, ABA Insurance Services

After repossessing a vehicle on a defaulted consumer auto loan, a bank must provide a “pre-sale notice” under the UCC before disposing of the vehicle through a public or private sale. When the vehicle is sold for less than the amount owed, a bank typically files a deficiency collection action against the debtor. If, however, the Bank’s pre-sale notice is defective under the UCC, the bank is risking becoming embroiled in the defense of a class action counterclaim filed by the debtor.

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