Oklahoma Bankers Association
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CFPB Director Cordray leaving position

November 17, 2017

Consumer Financial Protection Bureau Director Richard Cordray announced today he will be leaving his position, effective by the end of this month.

Cordray, the first director of the CFPB, is thought to be considering a bid as governor of his home state of Ohio in next year's election, although he has not confirmed this nor launched an official campaign.

He was confirmed as head of the CFPB in 2013 by President Barack Obama.

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Nondeductible portion of OBA dues calculated

BKD, LLP, has performed a calculation representing the nondeductible portion of member dues attributable to lobbying expenditures for the OBA's year ending April 30, 2017.

The source of the information used to determine this percentage included the Association's general ledger and an estimate of the percentage of time related to applicable personnel's involvement with lobbying activities by management of the Association. The OBA has reviewed the details involved in the calculation and have indicated it appears to represent the lobbying expenses for the year ending April 30, 2017.

As a result of these procedures, it has been determined the applicable percentage, as previously described to be 15.92 percent.

If you have any question, please contact Lea Ann Jackson at the OBA.


Regulatory Feedback Initiative continues

We are rapidly approaching the end of another year. If your bank had an exam, or is scheduled to have one before Dec. 31, 2017, we're asking that someone on your staff complete the Coalition of Bankers Association's POST EXAM SURVEY.

The survey is 100 percent anonymous, so there is no way for us or for anyone else to know which bank has completed which survey. The information we collect will help us collectively hold federal regulatory agencies accountable.

This is particularly important given all the new regulations being enforced. We need the good, the bad and even the ugly. Even if you were happy with your exam, we're asking you to fill out the survey – more so, if there was something you disagreed with as part of your exam.

Please take 20 minutes to complete the survey, or assign a member of your staff to complete the survey, for each exam (compliance and safety and soundness) your bank has undergone before the end of this year.


Oklahoma community banks aid hurricane victims

OKLAHOMA CITY — Community banks take great pride in being the foundation of their communities. When cities and towns are in need, they don't hesitate to help in any way possible. These banks are also just as quick to react when the neighborhoods of their peers need assistance.

Following the recent rash of hurricanes in Texas, Puerto Rico, Florida and elsewhere, the Oklahoma Bankers Foundation began collecting funds from Oklahoma community banks to provide assistance to those in need. An impressive amount of $21,125 was recently collected, with more checks still coming in.


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Corporate law firm providing legal representation, inclusive of both litigation and transactional services to numerous banks.