Oklahoma Banker Direct

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 …

A U.S. district judge ruled today the Consumer Financial Protection Bureau’s update to its Supervision and Examination Manual is unlawful. Judge J. Campbell Barker, of the Eastern District of Texas, agreed with plaintiffs and issued a summary judgment stating the CFPB’s March 2022 update to the manual exceeds the Bureau’s statutory authority and is based on unconstitutional funding. The lawsuit …

The Petroleum Alliance of Oklahoma will host a free program on Wednesday about how bankers can navigate the emissions reporting conversation with their oil and gas customers. The Alliance is currently working on two fronts on ESG requirements: 1) Make sure new and proposed emissions regulations are workable and practicable, instead of unworkable and punitive … or potentially fatal to …

The current president and CEO of the Southwestern Graduate School of Banking Foundation at Southern Methodist University has been appointed the next president and CEO of the Kansas City Fed, effective later this month. Jeffrey Schmid, who has served with SWGSB since 2021, will take the reins of the Kansas City Fed on Aug. 21. Schmid succeeds Esther George, who …

A Texas federal judge issued an order today for an injunction against the Consumer Financial Protection Bureau’s Section 1071 final rule. The injunction, which came at the request of the American Bankers Association, the Texas Bankers Association and McAllen, Texas-based Rio Bank, is ONLY for member banks of the ABA and/or TBA. Although both trade associations asked for the injunction …

Proponents of the Credit Card Competition Act are trying to latch it on as an amendment to the must-pass National Defense Authorization Act – and pass it quickly before Congress adjourns for an August break. Your senators need to hear from you. Although both Sen. Lankford and Sen. Mullin have opposed this legislation in the past, it’s important to remind …