(Information courtesy of ABA) The U.S. Department of Agriculture on Tuesday issued an interim final rule establishing new regulations and procedures for the legal production of industrial hemp, as required by the 2018 Farm Bill. The Farm Bill reclassified hemp as a legal agricultural commodity, but questions remained, including those related to banks’ ability to serve hemp producers and hemp-related …

The Oklahoma Bankers Hall of Fame inducted its 2019 class – its second ever – today at the Oklahoma History Center in Oklahoma City. John V. Anderson, with F&M Bank; the late Clark and Wanda Bass, with First National Bank & Trust Co., in McAlester; Oklahoma State Banking Commissioner Mick Thompson; and the late Morrison Tucker, a longtime prominent Oklahoma …

The Oklahoma Bankers Hall of Fame will induct its second-ever class on Dec. 5 at the Oklahoma History Center in Oklahoma City. John V. Anderson, with F&M Bank in Crescent; Mick Thompson, with the Oklahoma State Banking Department; Clark and Wanda Bass, with First National Bank & Trust Co., in McAlester; and Morrison Tucker, a longtime Oklahoma City banker, will …

In This Issue… Survey: People remain highly satisfied with their bank Oklahoma Bankers Hall of Fame ceremony set for Dec. 5 OBA hosting meet-and-greet with Rep. Mullin OBA education corner …

In spite of all of the impeachment noise late last month, the industry was successful in obtaining passage of the Secure and Fair Enforcement Banking Act (the SAFE Act) by a strong bipartisan vote: 323-101. While far from perfect, the SAFE Act is at least a step in the right direction for the industry. While I would have preferred different …

The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 5 in Oklahoma City. John V. Anderson, with F&M Bank in Crescent; Mick Thompson, with the Oklahoma State Banking Department; Clark and Wanda Bass, with First National Bank & Trust Co., in McAlester; and Morrison Tucker, a …

Section 2821 of the National Defense Authorization Act for the 2020 fiscal year includes a significant change that means a more-level playing field between banks and credit unions located on military installations. The issue has to do with how banks are now required to compete with credit unions on military bases and posts beyond their tax-exempt status. Credit unions currently …

The House voted late Tuesday 249-173 to pass the Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney (D-N.Y.), would direct the Financial Crimes Enforcement Network to create a national database that banks could use to verify a business’s beneficial ownership information. The bill was amended before passage to include legislation championed by Rep. Emanuel Cleaver (D-Mo.) …

In This Issue… Supreme Court to hear CFPB constitutionality claim BSA/AML bills to be considered by House Final Bankers’ Night Outs set for this week OBA education corner …

Consumer credit delinquencies were mixed in the second quarter, with delinquencies falling for bank cards (credit cards provided by banks) and rising for the composite index of closed-end loans, according to results from the ABA’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in eight of the 11 categories tracked by ABA while three categories fell. The composite ratio, which tracks …