Did you know the average federal income tax paid by an Oklahoma resident was $10,589 last year? Did you know the TOTAL income taxes paid by credit unions was $0? As a banker, you probably did, but do your customers know? In a time when the federal deficit is regularly at the forefront of the news, maybe they should know …

The Office of the Comptroller of the Currency issued two bulletins on Monday for financial institutions “to eliminate politicized or unlawful debanking in the federal banking system.” The first bulletin seeks to remind banks of their legal obligations to protect their customers’ financial records, “even if that information is requested by government agencies,” according to the OCC. The second bulletin …

The FDIC announced late last week it had removed all references to disparate impact from its Consumer Compliance Examination Manual. Instead, the agency said it will evaluate potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act “only through evidence of disparate treatment.” President Trump issued an executive order in April to eliminate enforcement of disparate-impact liability, which …

The Office of the Comptroller of the Currency announced last week a decrease in assessment rates for the Sept. 30 semiannual assessment. The OCC reduced the rates in the general assessment fee schedule by 30% for assets up to $40 billion and 22% for assets above $40 billion, and reduced the rates in the independent trust and independent credit card assessment …

On Aug. 7, the Small Business Administration sent a letter to over 5,000 lenders in response to President Trump’s executive order “Guaranteeing Fair Banking For All Americans.” The letter outlined the executive order and ordered banks to follow the new order. Pursuant to the Fair Banking Executive Order, banks are required to take the following action: By Dec. 5, your …

The latest edition of the OBA Directory of Banks is now available. This essential reference includes financial data, important information about all Oklahoma banks, savings and loans, savings banks and holding companies, key personnel by function and title, answers to rules and regulations, legislators, state and national agencies, courthouses, fast-find index and much more! Each Directory is $40 per copy for OBA-member …

The latest edition of the OBA Directory of Banks is now available. This essential reference includes financial data, important information about all Oklahoma banks, savings and loans, savings banks and holding companies, key personnel by function and title, answers to rules and regulations, legislators, state and national agencies, courthouses, fast-find index and much more! Each Directory is $40 per copy for OBA-member …

For our members who found the Treasury Check Verification System portal difficult to enroll in or use, SentiLink is now offering access to their treasury check verification services free for anyone. Yes, this is correct 100% with no strings attached. It is for any financial institution and will provide access to their SentiLink dashboard where you can verify Treasury check …

Pursuant to Article V, Section 5.4 of the By Laws of the OBA, notice is hereby given of the slate of nominees that have been selected by each of the Board’s nominating committees to serve a three-year term on the Board of Directors. The slate of nominees will be considered by the membership on May 13 at the annual meeting …

The Consumer Financial Protection Bureau, in the past week has vacated and/or abandoned enforcement of a pair of rules. On Monday, the CFPB reached an agreement with the American Bankers Association and other plaintiffs to settle a lawsuit over its rule on credit card late fees. The CFPB last year issued a final rule to lower the safe harbor dollar …