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In case you missed it, Lower East Side People’s Federal Credit Union filed suit against the President and Acting CFPB Director, Michael Mulvaney, alleging that Mulvaney’s appointment violates the constitution. The credit union has $55 million in total assets. It’s CEO alleges that Deputy Director Leandra English is the proper and only lawful Acting Director of this massive regulatory agency that is not …
December 2017
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December 6, 2017
Mulvaney Begins Process to Reign in Consumer Bureau
As you know by now, there’s good news for community bankers at the CFPB: In addition to the fact that Richard Cordray is no longer the Director of the Consumer Financial Protection Bureau, (he has just announced his long-anticipated candidacy for Governor of Ohio), it seems pretty clear that the President’s selection of Mick Mulvaney as Acting Director is going …
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December 6, 2017
Hoenig On Board With Reg Relief Package; Suggests Tweaks
Statement of Tom Hoenig, FDIC Vice Chairman on the action by the Senate Banking Committee moving S. 2155 to the full Senate. I am pleased that the Senate Banking Committee has advanced the regulatory relief debate with approval of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. The underlying goal of the legislation is one I have long advocated: easing …
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December 5, 2017
Week of Dec. 4
In This Issue… • Greetings from Guy • Powell’s nomination recommended to the full Senate • Poll: Majority of voters support taxing credit unions • Just in: The Senate Banking Committee just voted to advance S. 2155 to the full Senate • Senate votes to approve major tax reform • OBA soliciting CD bids • OBA education corner …
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December 4, 2017
McCormack and Associates, Inc.
At MAi, we have a unique combination of audit, compliance, asset and liability management and bank planning to share with our clients. We specialize in those areas and a variety of services that can be customized to fit your needs. Our mission is to help independent, community, and regional financial institutions survive, compete effectively, and prosper. Through a professional and …
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December 2, 2017
December 2017 OBA Legal Briefs
Managing risk in mobile deposits (Removed for error) The statement exemption for charged-off loans Don’t sweat the HUD-SCRA expiration HMDA notices Abundance of caution” “Legalese” for non-lawyers – Part II
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December 1, 2017
Banking Committee approves reg relief bill
On Dec. 5, after enduring a seven-hour process of rejecting some 37 amendments proposed by Democrat members of the Senate Banking Committee, the Committee voted to advance S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, to the full Senate for consideration. It was a strong bipartisan vote: 16-7, including four of the 11 Democrats on the Committee. …
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December 1, 2017
Answering questions about OBA membership
By Megan McGuire OBA Member Relations A commonly asked question at the OBA is: Am I a member? Every employee of an OBA member bank is a member of the OBA. Furthermore, every employee of an OBA strategic member is a strategic member of the OBA. The Oklahoma Bankers Association would like for all its members to make the most …
November 2017
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November 28, 2017
Oklahoma banks continue trajectory for another earnings record
Oklahoma banks continue their collective journey to another record-earnings year, according to the FDIC’s release of the Quarterly Banking Profile on Monday. “Needless to say, this is great news for the industry,” OBA President and CEO Roger Beverage said. “The previous record was set in 2015, at $1.024 billion. At the end of September, the year-to-date net income for the industry …
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November 28, 2017
Week of Nov. 27
In This Issue… • Greetings from Guy • GRC reviews bills introduced in Second Session • OBA supports FASB proposal to address reporting implications of tax reform • Congress approves government funding bill through Feb. 8 • OBA Bankers’ Night Out programs ready for spring • Register for OBA 2018 Contact Banker Program • OBA education corner …