Tuesday, December 5, 2023

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CFPB Director Cordray leaving position

Consumer Financial Protection Bureau Director Richard Cordray announced today he will be leaving his position, effective by the end of this month. Cordray, the first director of the CFPB, is thought to be considering a bid as governor of his home state of Ohio in next year’s election, although he has not confirmed this nor launched an official campaign. He …

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Senate Banking Committee reaches tentative compromise on reg relief

On Nov. 13, members of the Senate Banking Committee unveiled a proposed compromise on regulatory relief for community banks, according to OBA President Roger Beverage. “It’s not everything we wanted,” Beverage said. “I still want to see if this is the final ‘take-it-or-leave-it’ version or if we can add some tweaks. “The most obvious omission is that it doesn’t talk …

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Bad news: Crapo/Brown negotiations fail

We have now confirmed the ranking member of the Senate Banking Committee, Sherrod Brown (D-Ohio), has walked away from the negotiations with Committee Chairman Mike Crapo (R-Idaho) on a proposed package for regulatory relief aimed at community banks. He did so in spite of his public statements some three weeks ago that progress was being made on a compromise, bipartisan …

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Open letter to Congress, Oklahoma delegation, from Oklahoma banker

I was recently in D.C. with 70 fellow bankers. During our visit, Rep. Lucas took time out of his busy schedule to meet with us for a few minutes. His dedication is greatly appreciated. During our visit, a hot topic was tax reform. As I understand it, the bill would have an easier road if it were revenue neutral. I …

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OBA Washington Visit featured by State Banking Department

OSBD Inbox

The recent OBA Annual Washington Visit was highlighted in the Oklahoma State Banking Department’s monthly newsletter for October. The newsletter mentioned our Oklahoma bankers made a “powerful statement with record attendance” during the Visit, and also pointed out how several OBA Emerging Leaders made the trip. Oklahoma State Banking Commissioner Mick Thompson joined the more than five dozen bankers on the annual …

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CFPB finalizes small-dollar lending rule

Consumer Financial Protection Bureau logo

Last week, the Consumer Financial Protection Bureau released its final rule that covers generally the small-dollar lending market. Importantly, the final rule protects banks that make small-dollar “accommodation loans” to customers on an occasional basis. “The OBA challenged the complexity of the initial proposal in 2016 and its applicability to traditional community banks,” said OBA President Roger Beverage. “When we …

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ABA survey: Online, mobile are most popular banking channels

Woman using mobile phone

Forty percent of Americans manage their bank accounts online more frequently than any other method, according to a recent survey conducted by Morning Consult on behalf of the American Bankers Association.  One in 4 consumers (26 percent) use their mobile devices most often to conduct their banking business, while 18 percent visit their bank’s branch the most frequently. “Since the …

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Tax reform outline released


Last week, the Trump administration and congressional leaders released news about a joint framework for tax reform that was (apparently) hammered together by White House insiders, the speaker and the president pro temp of the Senate. This outline provides a very general road map for the House Ways and Means Committee as the long-awaited tax reform package is finalized. Democrats …

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Annual Washington Visit scheduled

U.S. Capitol Building in Washington D.C.

The OBA’s Annual Washington Visit has been scheduled for Oct. 1-3 and the hotel will be the Mayflower. Registration information should be hitting your bank shortly, but you can also download the registration and information form, and get more info on the hotel, by clicking here.

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