Payton Moody

99% of consumers give high marks to their bank’s online sectors for second consecutive year

According to a national survey conducted by Morning Consult on behalf of the American Bankers Association, 91% of consumers evaluated their bank’s online and mobile app experience as “outstanding,” “very good,” or “good,” tying last year’s record. Furthermore, 81% of those polled believe that bank innovation and technical advancements are making it easier for all Americans to obtain financial services, demonstrating …

Read More »

Cryptocurrency, ransomware make for dangerous combination

It’s hardly shocking increased use and recognition of cryptocurrency creates new opportunities and challenges for banks. What might surprise you, though, is exactly how the emergence of virtual currency is leaving financial institutions more vulnerable to an all-too-common problem: ransomware. According to the Financial Crimes Enforcement Network, the total U.S.-dollar value of ransomware-related transactions reported during the first half of 2021 …

Read More »

Proposed Rulemaking to Rescind the OCC’s June 2020 CRA Rule

The Office of the Comptroller of the Currency (OCC) responded to commonly asked questions (FAQ) about a notice of proposed rulemaking seeking public comment on a plan to revoke the OCC’s Community Reinvestment Act (CRA) regulation, which was issued on June 5, 2020. (June 2020 CRA rule). The notice, which was published in the Federal Register on September 17, 2021, …

Read More »

Budget reconciliation package does not initially contain IRS reporting provision

The American Bankers Association reported today the Biden Administration and House leaders released the framework and legislative text of the Build Back Better plan. We are pleased to report after reviewing the package it does not contain any language on the ABA, state bankers association, banker and consumer-opposed tax information reporting proposal. Please note, however, the release of the framework and text is …

Read More »

Week of Oct. 26

In This Issue… Report: IRS bank proposal to be dropped from budget bill Opposition to tax reporting proposal made clear by ABA, trade groups 2021 Oklahoma Bankers Hall of Fame ceremony set for Dec. 2 Bankers’ Night Out fall series continues with upcoming dates in Woodward, Lawton OBA education corner … Report: IRS bank proposal to be dropped from budget …

Read More »

U.S. Consumers Give Banks High Marks on Performance, Information Security

According to a new study done by Morning Consult on behalf of the American Bankers Association, nine out of ten Americans with a bank account are “extremely content” or “satisfied” with their primary bank, and 97% rank their bank’s customer service as “outstanding,” “very good,” or “good.” The poll, which was taken earlier this month and released Monday at the …

Read More »

SMU Graduate Banking School to begin late May through early June

SMU Graduate School of Banking is hosting a development program centered around “Mastering Leadership and Taking Charge.” This school is recommended for commercial loan officers, branch managers, credit analysts, cashiers mortgage and consumer lenders, operations officers, state and federal regulators, and various other banking professionals. Click here for more information.

Read More »

Executive News: IRS reporting issue, OCC nominee highlight latest issues

Last month, we talked about the reconciliation bill being discussed in Congress, along with the IRS proposal. Fast forward one month and nothing has changed. No vote has been taken on reconciliation bill and no vote has occurred on the Senate infrastructure bill. Here’s a look at where we were and where we are at today. The $1 trillion Senate …

Read More »

Week of Oct. 18

In This Issue… Democrats likely to scale back Treasury’s IRS bank reporting plan OCC releases updated LIBOR transition self-assessment tool Bankers’ Night Out fall series continues with upcoming dates in OKC, Woodward, Lawton OBA education corner … Democrats likely to scale back Treasury’s IRS reporting plan Senate Democrats will likely reveal a scaled-back version of a Biden administration proposal to …

Read More »

Banking profits increase in 2021’s second quarter

Despite the drop in net interest revenue, 64.1% of Oklahoma banks reported more net interest income than the previous year, according to the recently released Quarterly Banking Profile by the FDIC for the second quarter. For Oklahoma banks, the average return on assets was 1.24% in the second quarter of 2020, up from 0.36% the previous quarter. The FDIC reported …

Read More »