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The OBA, alongside 51 of its fellow state bankers associations last week, urged the Federal Communications Commission to issue new rules to help stem the flow of illegal texts and calls to consumers. The rules had been scheduled to be considered during the FCC’s meeting on Sept. 26 but were removed from the agenda two days before the meeting. The …

The Consumer Financial Protection Bureau today issued its Section 1033 final rule, which deals with personal financial data rights. The rule will require financial institutions, credit card issuers and other financial providers to unlock an individual’s personal financial data and transfer it to another provider at the consumer’s request for free. The CFPB believes it will allow consumers to more …

The Federal Reserve and Consumer Financial Protection Bureau recently announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2025 are subject to certain protections under Regulation Z, which implements the Truth in Lending Act, and Regulation M, which implements the Consumer Leasing Act. The agencies are required to adjust the thresholds annually based on …

The FDIC board will meet on Thursday to consider extending the compliance deadline for its final rule on the use of the agency’s name and logo by financial institutions. The FDIC last year adopted new requirements regarding the display of the official FDIC sign in banks and bank digital channels, setting a compliance deadline of Jan. 1, 2025. Earlier this …

During the OBA Washington Visit in September, the acting comptroller of the currency mentioned EGRPRA (The Economic Growth and Regulatory Paperwork Reduction Act), which elicited several questions from bankers. Ryan Portell, with the comptroller’s office, reached out to OBA Chair Alicia Wade late last week with some follow-up information. We’re sharing below what he had to say: The agencies have …

The Oklahoma Bankers Hall of Fame today announced the four bankers who will be inducted into its 2024 class later this year. Guy Berry III, Herschel Brewster, Brad Krieger, and Gregg Vandaveer will make up the 2024 class. The inductees were selected by a panel of bankers from across the state, and were voted on late last week. (The late …

Effective Nov. 1, the U.S. Secret Service will no longer accept electronic submissions of suspected counterfeit notes via the USDollars website. The Registration and Submission option will be removed and no longer available. Open electronic submissions entered prior to Nov. 1, will be available to previously registered users. After Nov. 1, USDollars will continue accepting bulk submissions from banks currently …

The Federal Housing Administration’s proposed implementation of a new rule removing the face-to-face meeting requirement for certain mortgagees could actually increase the complexity and risk of the borrower engagement process, the American Bankers Association and three associations said late last week in a joint letter to the agency. In August, FHA issued a final rule that made permanent a pandemic-related …

The calculation representing the nondeductible portion of member dues attributable to lobbying expenditures has been made for the OBA’s year ending April 30, 2024. The source of the information used to determine this percentage included the Association’s general ledger and an estimate of the percentage of time related to applicable personnel’s involvement with lobbying activities by management of the Association. …

The percentage of U.S. bank customers who are financially healthy has remained steady, but their overall concern regarding inflation has fallen – yet still remains high – according to a new survey by J.D. Power. Nearly two-thirds of customers said they are struggling to keep up with the cost of goods, which was the lowest level so far this year. …