Wednesday, December 7, 2022

Payton Moody

Federal Reserve Bank of Kansas City Releases Fourth Quarter Energy Survey

https://www.asianchamberkc.com/our-members/federal-reserve-bank-of-kansas-city

The Fourth Quarter Energy Survey was released on Jan. 7 by the Federal Reserve Bank of Kansas City. The survey found that energy activity in the Tenth District climbed moderately from a quarter ago and increased further from year-ago levels, according to Chad Wilkerson, Oklahoma City Branch CEO and economist at the Federal Reserve Bank of Kansas City. Future activity …

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Week of Jan. 10

In This Issue… CFPB Section 1071 proposal deemed ‘unnecessarily far-reaching’ by ABA Banks notice rise in fraud, associated costs in 2021 Banking school scholarships available OBA education corner … CFPB Section 1071 proposal deemed ‘unnecessarily far-reaching’ by ABA While ABA and state bankers associations support fair lending laws and regulations, they are concerned about the CFPB’s long-awaited proposed rule to …

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Banks notice rise in fraud, associated costs in 2021

According to a new survey from LexisNexis Risk Solutions, banks experienced more monthly fraud attacks in 2021 than the previous year. The data determined that the average number of monthly fraud assaults for banks with annual turnover of more than $10 million has climbed from 1,977 to 2,320 since 2020. To read the full report from LexisNexis, click here.

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FDIC chairperson announces resignation

FDIC Building

FDIC Chairperson Jelena McWilliams announced her resignation today via a letter to President Joe Biden. McWilliams, a Republican, was named the 21st chairperson of the FDIC in June 2018 after being appointed by then-President Donald Trump. Her official departure has been set for Feb. 4, with FDIC board member Martin Gruenberg reported to become acting chairman – his third stint …

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Week of Jan. 3

In This Issue… Bankers at the State Capitol: Register for OBA’s 2022 Contact Banker Program FDIC chairperson announces resignation OBA offers promotions for upcoming year OBA welcomes new strategic member OBA education corner … Bankers at the State Capitol: Register for OBA’s 2022 Contact Banker Program We have set the dates for the 2022 Contact Banker Program. Click here to …

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FDIC chairperson announces resignation

FDIC Chairperson Jelena McWilliams announced her resignation today via a letter to President Joe Biden. McWilliams, a Republican, was named the 21st chairperson of the FDIC in June 2018 after being appointed by then-President Donald Trump. Her official departure has been set for Feb. 4, with FDIC board member Martin Gruenberg reported to become acting chairman – his third stint …

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Banking profits increase in third quarter

Net income at Oklahoma banks increased by more than 50% overall from the second quarter to the third quarter of 2021. The FDIC’s latest Quarterly Banking Profile, which was released in late November, showed good news for Oklahoma banks. After reporting $999 million in profits through the end of the second quarter, Oklahoma commercial banks showed more than $1.5 billion …

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Small business optimism index increases in November

In November, the NFIB Small Business Optimism Index rose 0.2 points to 98.4. The Uncertainty Index fell 4 points to 63 points. Business owners intend to generate new employment at a seasonally adjusted net 25.0%, down 1 point from the previous month. The percentage of business owners who believe now is a favorable time to expand remained unchanged from the …

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Week of Dec. 13

In This Issue… OBA taking donations for tornado victims OCC nominee withdraws from consideration OBA education corner … OBA taking donations for tornado victims Last week, Kentucky suffered severe tornado damage, the worst in state history. The primary tornado was tracked as being on ground for more than 200 miles, impacting at least 19 counties and four other states. Banks …

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Supervisory Highlights Report Flags Mortgage Servicing, Fair Lending Issue

The Consumer Financial Protection Bureau (CFPB) today released a “Supervisory Highlights” report concentrating on examiner observations of different financial products from January to June 2021. Credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittance transfers are among the areas where problems were discovered, according to the bureau. To read the full report, …

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