Payton Moody

Consumer delinquencies hit new low in second quarter

According to the American Bankers Association’s latest Consumer Credit Delinquency Bulletin, consumer credit delinquencies hit a new low in the second quarter of 2021 as the economy continued to improve. When compared to the previous quarter, delinquencies decreased in nine of the 11 loan categories analyzed by ABA. In the second quarter, delinquencies on bank cards (credit cards issued by …

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Budget reconciliation package likely to include IRS reporting provision

The American Bankers Association reported that House Speaker Nancy Pelosi (D-Calif.) told reporters Tuesday that Democrats plan to include a controversial tax reporting provision in their budget reconciliation package to require banks to report information to the IRS on gross inflows and outflows on customer accounts above a certain de minimis threshold. Pelosi did not specify what the threshold would …

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New Home Sales Rise in July

According to the U.S. Census Bureau and the Department of Housing and Urban Development, new single-family home sales increased to a seasonally adjusted annual rate of 708,000 in July. The June rate is 1.0% higher than the revised June rate of 701,000, but it is still 27.2% lower than the July 2020 forecast of 972,000. To read more about this story, click …

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New Home Sales Rise in July

According to the U.S. Census Bureau and the Department of Housing and Urban Development, new single-family home sales increased to a seasonally adjusted annual rate of 708,000 in July. The June rate is 1.0% higher than the revised June rate of 701,000, but it is still 27.2% lower than the July 2020 forecast of 972,000. To read more about this story, click …

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Week of Sept. 27

In This Issue… SBA issues final rule regarding Paycheck Protection Program Two Fed presidents announce early retirement under similar circumstances Nondeductible portion of OBA dues calculated 2021 Hall of Fame Luncheon & Induction Ceremony set for Dec. 2 OBA education corner … SBA issues final rule regarding Paycheck Protection Program The Small Business Administration has issued a final rule outlining …

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Executive News: Thank you, you shouldn’t have … really

I want to thank all of you for all you did for the American people during the PPP – a program of that magnitude had never been done before. You dealt with constant rule changes, lack of information and everything else that made your life hectic for months. Because of you, a massive number of businesses both small and large …

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Agencies issue guide for community banks to evaluate fintechs

The federal bank regulatory agencies last last month released a guide intended to help community banks assess risks when considering relationships with financial technology (fintech) companies. This guide, “Conducting Due Diligence On Financial Technology Companies,” is intended to be a resource for community banks when performing due diligence on prospective relationships with fintech companies. It is available on the Federal …

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Banking profits increase in 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 …

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235,000 Jobs Added in August, Unemployment Rate at 5.2%

According to the Bureau of Labor Statistics, total nonfarm payroll employment increased by 235,000 in August. In August, the total number of unemployed people fell to 8.4 million, and the unemployment rate fell to 5.2%. Professional and business services, transportation and warehousing, private education and manufacturing accounted for the majority of employment growth in August. To read this story in its …

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Week of Sept. 13

In This Issue… Senate members introduce bill to block IRS bank reporting requirements 2022 OBA Speaker Proposal forms due Oct. 20 OBA Emerging Leaders Academy application deadline is this week OBA Bankers’ Night Out programs begin this week in Ardmore Wednesday is last day to order Oklahoma Views and Vistas Calendar Registration open for ABA Virtual Washington Fly-In OBA education …

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