2010 Beacon Awards

The Beacon Awards, held July 13, recognizes the businesses and organizations “Lighting the Way” in Oklahoma by giving back to the communities that support them. It honors those companies that contribute through corporate giving, as well as those that encourage a company culture of service by its employees.

The honored banks listed below were featured in the Beacon Awards magazine and recognized at an awards dinner at The Skirvin Hilton Hotel.

Charitable Influence- Medium:

• Coppermark Bank, Oklahoma City
  Click here to read more about this bank's story

Charitable Influence- Small:

• Eastman National Bank, Newkirk
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• UMB Bank, Oklahoma City 
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Reverse mortgages: Are they for you?

This Consumer Advisory, issued by the Office of the Comptroller of the Currency, is designed to help you better understand reverse mortgages. Reverse mortgages are complex loans available to seniors that are used to release home equity, and are secured by your home. It is important to understand their terms, risks and costs before you sign a reverse mortgage contract. It is also important to consider alternatives to reverse mortgages.

Click here to learn more about the costs and benefits of reverse mortgages.

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Consumers and the new Credit CARD Act

On May 22, President Barack Obama signed the Credit Card Accountability, Responsibility and Disclosure, or Credit CARD, Act of 2009 into law. Most of the provisions went into effect Feb. 22, 2010.

This new credit card legislation adopted in early 2010 is set out to introduce provisions to help you pay off your debts easier and to understand your financial situation better. The legislation will improve consumer disclosures and protect you from practices in the credit card industry. It will include the most sweeping changes in how credit cards are marketed, advertised and managed in decades.

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