Despite what some may say, the State Board shake up and the termination of its executive director came as a surprise.  But the most surprising move by the Division was the termination of Randall Jennings, the preneed examination supervisor.  The examination supervisor had no role whatsoever in the funeral home inspection process.  Baffled by that

Jo Ann Howard & Associates, P.C., the receiver of National Prearranged Services, recently sent out a notice to funeral home providers that suggests to us that a settlement with PNC Bank may be in the offering.  The “Notice to Funeral Homes” advises that funeral homes will have until June 1st to provide documentation

PNC Bank has been hit with $15 million of punitive damages because Allegiant Bank did not know its client.

Before opening a fiduciary account, banks are required to perform due diligence on the trust’s grantor and on the trust’s purposes.   Such due diligence is referred to as ‘know your client’ or “KYC”.  KYC requirements had

National Prearranged Services is back in the news after a trial court issued a new $102 million judgment against PNC Bank (the corporate successor of Allegiant Bank).  Allegiant Bank served as NPS’ Missouri preneed trustee for six years beginning in 1998.  When PNC Bank agreed to purchase Allegiant in 2004, PNC performed due diligence that

The Special Deputy Receiver over National Prearranged Services recently filed an application to assign a significant portion of the NPS preneed contracts to Liberty Bankers Life Insurance, and a subsidiary, Capitol Life Insurance Company.  If approved by the court, the NPS contracts will transfer on November 1st.  Preneed contracts sold in Missouri and

It has been almost 2 years to the date when a $391 million dollar judgment was entered against PNC Bank, as the successor to Allegiant Bank.   Allegiant Bank was one of the last trustees to administer National Prearranged Services’ preneed trusts in Missouri.  PNC Bank appealed that judgment, and a decision is expected any day