Saturday, July 13, 2024

Homepage News

Four bankers inducted into Oklahoma Bankers Hall of Fame

The Oklahoma Bankers Hall of Fame inducted its 2022 class – its fourth ever – today at the Oklahoma History Center in Oklahoma City. Dr. Sinclair Armstrong Jr., with Armstrong Bank in Muskogee; Shirley Barber, a longtime banker with Security State Bank in Cheyenne; Robert H. Croak, with FNB Community Bank in Midwest City; and the late John Massey, with …

Read More »

ABA report: Credit card market remains strong

Consumers continued to manage their credit well despite economic headwinds in the second quarter of 2022, according to the American Bankers Association’s latest Credit Card Market Monitor. The report found that credit card credit outstanding as a share of disposable income remained well below pre-pandemic levels in the second quarter while inflation-adjusted monthly credit card purchase volumes increased across risk …

Read More »

Poll: Consumers value rewards programs when choosing banks

Nearly one in four respondents said in a recent survey they would switch or have switched banks because another bank offered a cashback or rewards program, or offered a better version of a rewards program than their current bank. Rewards program platform provider Wildfire Systems commissioned a survey of more than 1,000 U.S. consumers on their attitudes toward cashback and …

Read More »

Happy Thanksgiving from the OBA staff!

Happy Thanksgiving!

Happy Thanksgiving from our staff to yours, from all our families to yours! The OBA offices will be closed starting Wednesday afternoon through Friday for the holiday. We will reopen at our regular time on Nov. 28. Have a happy Thanksgiving!

Read More »

State Banking Board approves 50% reduction in 2023 assessments

The Oklahoma State Banking Board voted unanimously at its November meeting to reduce the assessments paid by Oklahoma state-chartered banks. The 2023 assessment rate was discounted 50% for each bank with assets less than $1 billion and 25% for each bank with assets more than $1 billion. During the meeting held Nov. 16, State Banking Commissioner Mick Thompson explained how …

Read More »

Gruenberg nominated to head FDIC again

President Joe Biden announced his intent this week to nominate Martin Gruenberg to serve as chair and member of the board of directors of the Federal Deposit Insurance Corporation. Gruenberg is currently acting chairman and member of the board of directors of the FDIC. He joined the FDIC Board of Directors in August 2005 and has served as vice chairman, …

Read More »

CFPB issues bulletin charting consumer cryptoasset complaints

The Consumer Financial Protection Bureau released a new bulletin last week highlighting complaints the agency has received related to cryptoassets. Consumers most commonly reported being victimized by fraud, theft, account hacks and scams. Consumers also had issues with executing transactions and transferring assets between exchanges, while others had issues accessing account funds due to platform failures, identity verification issues, security …

Read More »

OBA golf tournament canceled

First rain, now snow. Due to the weather, the OBA Oktoberfest Golf Tournament scheduled for Nov. 14 has been CANCELED. Your registration fees will be refunded. Save the date: Please plan to play in the OBA spring golf tournament on Monday, May 8 at Belmar Golf Club in Norman. This event is held in conjunction with the 2023 OBA Convention.

Read More »

Fed raises rates another 75 basis points

The Federal Open Market Committee today announced it would raise the target range for the federal funds rate to 3.75 to 4% – the sixth rate increase this year and the fourth time the Fed has raised the rate by 75 basis points. FOMC also reiterated that it believes ongoing increases will be necessary to help return inflation closer to …

Read More »

Energy activity grows, albeit slower, in Fed’s Tenth District

The Federal Reserve Bank of Kansas City released the third quarter Energy Survey last week, which revealed Tenth District energy activity grew solidly, while expectations for future activity eased somewhat. “Despite the pace of growth slowing slightly, District drilling and business activity remained solid in Q3,” said Chad Wilkerson, Oklahoma City Branch executive and economist. “Firms reported lower growth in …

Read More »