Payton Moody

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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PPP loans prompt state-level employment growth

The Federal Reserve Bank of Cleveland determined in a new study brief this week that Paycheck Protection Program loans served to reduce the effects of the pandemic-related recession on state-level employment growth and had “substantial” advantages overall. Researchers discovered that providing one additional week of payroll support through PPP loans during the first round of PPP lending “would have minimized …

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Week of Nov. 29

In This Issue… Banks stay strong as banking system conditions improved in 2021 2021 Oklahoma Bankers Hall of Fame induction ceremony set for Thursday OBA education corner … Banks stay strong as banking system conditions improved in 2021 The banking system’s financial situation remained improved in the first half of 2021, according to the Federal Reserve’s latest supervision and regulation …

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Executive News: Bankers’ Night Out events wrap up autumn season

The first week of this month, we wrapped up our fall Bankers’ Night Out events. We traveled to six different locations across the state and were able to visit with more than 700 bankers. Thanks goes to Miles Pringle with The Bankers Bank, who joined us to talk about everything bitcoin and digital currency. Along with Miles, we covered a …

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IRS reporting issue not part of initial budget framework

The Biden Administration and House leaders released the framework and legislative text of the Build Back Better plan in late October, and the package does not contain any language on the tax information reporting proposal opposed by the ABA, OBA and other state bankers associations. Please note, however, the release of the framework and text is only a part of …

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80% of borrowers expected to be profitable in 2021 according to Ag Lender Survey

According to the Fall 2021 Agricultural Lender Survey report produced jointly by the American Bankers Association and the Federal Agricultural Mortgage Corporation, better known as Farmer Mac, agricultural lenders expect 80% of their borrowers to be profitable in 2021, with 70% profitable through 2022. The majority of ag lenders (69.7%) said overall farm profitability grew in the previous year for …

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Week of Nov. 15

In This Issue… Federal court issues nationwide stay of vaccine mandate 2021 Oklahoma Bankers Hall of Fame ceremony set for Dec. 2 OBA to offer various surveys for bank use in 2022 OBA education corner … Federal court issues nationwide stay of vaccine mandate The ABA Banking Journal has reported a federal appellate court on Friday imposed a nationwide stay …

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Consumer Prices Rise in October

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index climbed 0.9% on a seasonally adjusted basis in October. The all-items index has risen by 6.2% in the last year. In October, the food index grew by 0.9%, the same as in September. After climbing 1.2% in September, the index for food at home gained 1.0% in October. The increase …

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Week of Nov 8.

In This Issue… Acting comptroller discusses climate change risk Thank you to our Bankers’ Night Out sponsors OBA partners with Office Depot for association member discounts OBA welcomes new strategic member OBA education corner … Acting comptroller discusses climate change risk Acting Comptroller Michael Hsu said this week the OCC expects to handle climate change risk regulation by the end …

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