Saturday, April 13, 2024

Oklahoma Banker Direct

OBA-introduced ACRE bill passes state House, moves to Senate

HB 4092, Rep. Trey Caldwell’s state-level ACRE bill, passed the full House and is now headed to the Senate in the hands of Sen. Darcy Jech. We will keep you posted on this OBA-introduced bill and its progress through the process. Thank you to all who reached out and contacted your state representative about this important bill. More about HB 4092 (the …

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Ask your state representative to vote ‘yes’ on ACRE Act

The ACRE Act (HB 4092) is up for a vote in the State House of Representatives any day now. We need your help! Please call your State Representative and ask them to vote YES on HB 4092. What does the ACRE Act actually do? • The ACRE Act will lower the cost of credit by removing the taxation on interest …

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Oklahoma Department of Commerce to host virtual meeting for input from bankers

The Oklahoma Department of Commerce will hold a virtual meeting on Jan. 17 to gain input from banks and lenders on a future solicitation to restructure its State Energy Office energy efficiency loan program. ODOC is hosting the meeting as part of the earlier Request for Information it made. The Department wants to share the importance of energy audits, and how …

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President vetoes resolution against Section 1071 rule

In a move widely considered to be expected, President Biden vetoed S.J. Res. 32 on Tuesday night, which would have ended the Consumer Financial Protection Bureau’s Section 1071 rule. S.J. Res. 32 was a bipartisan resolution, which passed the Senate in October and the House of Representatives just a few weeks ago. It would have overturned the CFPB’s final rule implementing …

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House approves resolution against Section 1071 rule

The House, on Friday, passed a Senate joint resolution to overturn the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses. S.J. Res. 32 had cleared the Senate with bipartisan support in October, and it cleared the House Friday by a vote of 221-202, with most …

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More info on new real estate laws concerning alien ownership …

We wanted to pass along new and updated information from the Oklahoma attorney general’s office in regard to Senate Bill 212, which concerns alien ownership of Oklahoma real estate. After further review, we have updated the interpretation of the new law, in regards to what deeds in which the affidavits are required. The affidavit is only required for deeds transferring …

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Section 1071 injunction extended to ALL banks

A U.S. District Court judge broadened today a partial injunction, originally issued to the Texas Bankers Association, the American Bankers Association and a Texas-based bank, to now include all banks nationwide subject to the Section 1071 Final Rule. Judge Randy Crane barred the Consumer Financial Protection Bureau from implementing and enforcing the Sec. 1071 Final Rule against all banks and …

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FedNow survey for banks

At the request of some of our board members, the OBA has put together a short (three questions) survey regarding the FedNow service. If you, or someone at your bank, could take this quick survey, it would help us answer some questions about how many are using the system and in what way. We will share the results in an …

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Twice as nice: double good news for bankers

The U.S. Senate Committee on Banking, Housing and Urban Affairs passed the SAFER Banking Act today, which protects financial institutions that provide banking and financial services to cannabis-related businesses. The vote marked the first time the Senate, in any form, has voted in favor of either the SAFER Banking Act, or its predecessor, the SAFE Banking Act. While there are still …

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