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Share of U.S. Households without a Bank Account Drops

October 25, 2016

The number of U.S. households without a bank account fell significantly in 2015, according to the National Survey of Unbanked and Underbanked Households released by the Federal Deposit Insurance Corporation on Oct. 20.

Seven percent of U.S. households were unbanked in 2015. That was the lowest share in the survey's history and a decrease from 7.7 percent in 2013 and 8.2 percent in 2011.

The decline in the share of unbanked households was broad based. Unbanked rates among black and Hispanic households, for example, fell about 10 percent. The unbanked rate for black households dropped from 20.6 percent to 18.2 percent, and for Hispanic households it fell from 17.9 percent to 16.2 percent.

You can read the entire FDIC release on this information by clicking here.


D.C. Court of Appeals rules CFPB structure unconstitutional

In what can only be described as a great result, the court of appeals for the D.C. Circuit ruled unanimously recently the current structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power.

It's true the president can confer executive power down to the heads of lower administrative agencies. But in doing so, there have to be limits that power.

The Court stated there are limits to executive power conferred by the president on administrative agencies or independent commissions. The CFPB is an “independent” agency because its director can only be removed by the president for cause, rather than “at will.” The court went on to state that:

“This ruling is very big deal,” OBA President Roger Beverage said. “It's the first dent in the armor of the Dodd-Frank Act and it should encourage Congress to make realistic and meaningful changes to it, including regulatory relief for traditional community banks.”

Special OU/Baylor ticket deal available for Oklahoma bankers!

Join the Sooners on Nov. 12 at an exclusive price available to members of the Oklahoma Bankers Association

We are excited to offer all members of the OBA a special $80 per ticket rate that is $20 less than face value of the ticket to the OU vs. Baylor game. It will be the fifth home game of the season in the newly renovated Oklahoma Memorial Stadium and against the highest-ranked team in the Big 12!

Kickoff time is to be announced.

Click here to buy tickets and we will see you on Nov. 12!

OBA president to Congress: Over-regulation harms small banks, communities

Excessive regulation is making it more difficult for the nation's community banks to aid their customers, particularly in small, rural communities, according to testimony on Thursday from the Oklahoma Bankers Association's president and CEO to the U.S. House Small Business Subcommittee on Economic Growth, Tax and Capital Access.

OBA President and CEO Roger Beverage told the subcommittee a community bank is much more than simply a bank to residents of small and rural communities and the excessive regulations currently being placed on the industry, particularly from the Dodd-Frank Act, are forcing these community banks to merge with larger ones or simple shutter their doors.

Click here to read more!


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