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The Federal Reserve announced last week that Fedwire Funds Service and National Settlement Service operations will be expanded to include Sundays and weekday holidays. The expansion will be implemented over several years, “no earlier than 2028 to ensure operational and industry readiness.” Both FedWire and NSS currently operate Monday through Friday, excluding holidays. Following the expansion, both services will run …

Last week, the Small Business Administration sent out another letter with criteria for banks under $30 billion in assets to comply with reporting requirements regarding the president’s “Fair Banking Executive Order.” The revised requirements  are less burdensome then originally presented. When it was initially presented, it sure looked like bankers were going to have to spend a lot of time …

The Oklahoma Bankers Hall of Fame announced today the four bankers who will be inducted into its 2025 class later this year. R.S. “Brud” Baker, Sandy Bracken, Gary Huckabay and Lee Symcox will make up the 2025 class. The inductees were selected by a panel of bankers from across the state, and were voted on late last week. The induction ceremony will be …

The Office of the Comptroller of the Currency will split its bank supervision and examination division into three distinct units based on bank size, the agency announced last week. The move reverses a decision earlier this year by OCC’s previous leadership to combine its midsize and community bank supervision and its large bank supervision departments into a single entity. Starting Oct. …

Did you know the average federal income tax paid by an Oklahoma resident was $10,589 last year? Did you know the TOTAL income taxes paid by credit unions was $0? As a banker, you probably did, but do your customers know? In a time when the federal deficit is regularly at the forefront of the news, maybe they should know …

The Financial Crimes Enforcement Network and U.S. banking agencies released guidance on Monday for financial institutions on how to share financial information with their counterparts in other countries without running afoul of the Bank Secrecy Act. The guidance is meant to encourage “appropriate, voluntary cross-border sharing of information” between financial institutions to help combat money laundering, terrorist financing and other …

Did you know the average federal income tax paid by an Oklahoma resident was $10,589 last year? Did you know the TOTAL income taxes paid by credit unions was $0? As a banker, you probably did, but do your customers know? In a time when the federal deficit is regularly at the forefront of the news, maybe they should know …

The Office of the Comptroller of the Currency issued two bulletins on Monday for financial institutions “to eliminate politicized or unlawful debanking in the federal banking system.” The first bulletin seeks to remind banks of their legal obligations to protect their customers’ financial records, “even if that information is requested by government agencies,” according to the OCC. The second bulletin …

The FDIC announced late last week it had removed all references to disparate impact from its Consumer Compliance Examination Manual. Instead, the agency said it will evaluate potential discrimination under the Equal Credit Opportunity Act and Fair Housing Act “only through evidence of disparate treatment.” President Trump issued an executive order in April to eliminate enforcement of disparate-impact liability, which …

The Office of the Comptroller of the Currency announced last week a decrease in assessment rates for the Sept. 30 semiannual assessment. The OCC reduced the rates in the general assessment fee schedule by 30% for assets up to $40 billion and 22% for assets above $40 billion, and reduced the rates in the independent trust and independent credit card assessment …