Being an Ohio-chartered bank or trust company or institution-affiliated party of same (IAP) becomes a bit more comfortable with the addition of the new “bona fide error” protections of Ohio Sub. H.B. 489, effective March 20, 2019.
Under new Section 1121.61 of the Ohio Revised Code (ORC), Ohio banks will not be held civilly liable or subject to regulatory actions by the Ohio Division of Financial Institutions (ODFI) under Title XI of the ORC (the Ohio banking code), or Chapters 1309 (secured…
