Oklahoma Banker Direct

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 …

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 …

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 …

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 …

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 …

During the last legislative session, there were changes made to Title 60 O.S. § 121 – Alien ownership of Oklahoma real estate. The highlighted section is new law that goes into effect on Nov. 1, 2023. 1. No alien or any person who is not a citizen of the United States shall acquire title to or own land in this …

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 …

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 …

The 2023 induction class for the Oklahoma Bankers Hall of Fame has been unveiled. Nevyle Cable, Jim Hamby, Harry Leonard and Ted McGuire will make up the 2023 class and officially be inducted on Dec. 7 at the Oklahoma History Center in Oklahoma City. • Nevyle Cable is the longtime president and CEO of First National Bank and Trust Co., in Okmulgee. He retired in …

The U.S. District Court for the Eastern District of Kentucky granted a motion for injunction against the Consumer Financial Protection Bureau on Thursday evening, stopping the CFPB from enforcing its small business data collection rule (Sec. 1071). The Order from the Court reads, “The Consumer Financial Protection Bureau is ENJOINED from enforcing the Small Business Lending Rule until the Supreme …