Thursday, March 28, 2024

News

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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FinCEN raises alert on COVID-19 tax credit fraud schemes

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network recently issued an alert to financial institutions concerning fraud schemes related to the COVID-19 Employee Retention Credit (ERC) and is urging vigilance in identifying and reporting related suspicious activity. Ongoing fraud and scams related to the ERC have been identified that, to date, have resulted in 323 investigations involving more than $2.8 …

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Week of Dec. 4

In This Issue… From Adrian’s desk … FDIC releases cybersecurity videos for banks Oklahoma Bankers Hall of Fame fifth class set for induction – only few seats left! OBA education corner … From Adrian’s desk … By Adrian Beverage OBA President & CEO Just some random tidbits that might be of interest to our bankers this week! •     …

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Nondeductible portion of OBA dues calculated

The calculation representing the nondeductible portion of member dues attributable to lobbying expenditures has been made for the OBA’s year ending April 30, 2023. The source of the information used to determine this percentage included the Association’s general ledger and an estimate of the percentage of time related to applicable personnel’s involvement with lobbying activities by management of the Association. …

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Week of Nov. 27

In This Issue… From Adrian’s desk … FinCEN raises alert on COVID-19 tax credit fraud schemes Oklahoma Bankers Hall of Fame fifth class set for induction – still seats available for ceremony! OBA Intern Program ready for 2024 OBA TikTok Time … OBA education corner … From Adrian’s desk … By Adrian Beverage OBA President & CEO Just some random …

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State Banking Board approves 60% reduction in 2024 assessments

The Oklahoma State Banking Board voted unanimously at its November meeting to reduce the assessments paid by Oklahoma state-chartered banks. The 2024 assessment rate was discounted 60% for each bank with assets less than $1 billion and 15% for each bank with assets more than $1 billion. During the meeting held Nov. 15, State Banking Commissioner Mick Thompson discussed increased …

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Week of Nov. 21

In This Issue… From Adrian’s desk … State Banking Board approves 60% reduction in 2024 assessments Nondeductible portion of OBA dues calculated OBA soliciting CD bids Oklahoma Bankers Hall of Fame fifth class set for induction OBA education corner … From Adrian’s desk … By Adrian Beverage OBA President & CEO Just some random tidbits that might be of interest …

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OBA soliciting CD bids

The OBA will be purchasing several Certificates of Deposit for investment soon. All interested banks are encouraged to contact us. The certificates will range from 90 days to 24 months, and most will be in the amount of $245,000 – to be funded the last week of November. Interested banks should contact Kathryn Donovan in the OBA accounting department: kathryn@oba.com.

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Agencies pinpoint 2024 regulatory thresholds

The Consumer Financial Protection Bureau, Federal Reserve and Office of the Comptroller of the Currency announced on Monday the 2024 threshold for whether higher-priced mortgage loans are subject to special appraisal requirements will increase from $31,000 to $32,400. At the same time, the Fed and CFPB announced an increase in the dollar thresholds used to determine whether certain consumer credit and …

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Week of Nov. 13

In This Issue… From Adrian’s desk … Oklahoma County moves to online sheriff’s sales Agencies pinpoint 2024 regulatory thresholds OBA TikTok Time … Oklahoma Bankers Hall of Fame fifth class set for induction OBA education corner … From Adrian’s desk … By Adrian Beverage OBA President & CEO Just some random tidbits that might be of interest to our bankers …

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