June 2021

  • June 25, 2021

    Tenth District manufacturing activity remains strong

    Federal Reserve Tenth District manufacturing activity remained strong, and expectations for future activity increased to a survey record high, according to the manufacturing survey recently released by the Fed. The index of prices paid for raw materials and prices received for finished goods compared with a month ago remained very high. Price indexes vs. a year ago posted record highs …

  • June 24, 2021

    Shield Compliance, LLC

    Shield Compliance, LLC is a financial technology company that provides a purpose-built BSA/AML platform for cannabis banking compliance. Our company transforms how financial institutions manage risk, comply with regulations, and satisfy operational demands associated with serving the legal cannabis market. CONTACT INFORMATION: Contact: Richard Drennen 500 Union St Suite 310 Seattle, WA 98101 Phone: (859) 595-6440 Email: richard@shieldbanking.com Website: www.shieldbanking.com

  • June 22, 2021

    Week of June 21

    In This Issue… Two important fraud-related notes … Oklahoma banker receives ABA Distinguished Service Award for Compliance Report: Improved economy is great new for banks OBA education corner … Two important fraud-related notes … The OBA’s fraud department has been receiving calls and texts from bankers who were unable to get on the Oklahoma Insurance Department’s “Hoodwinked” fraud webinars at …

  • June 19, 2021

    Executive News: Budget, Medicaid, issue highlight legislative front

    Last week, the OBA held its Annual Convention and Trade show at the Omni in Oklahoma City, and it was a great couple of days. We had record number of golfers playing in the rain, we had over 300 registrants and a sold-out exhibit hall full of great OBA Strategic Members. This year’s convention had a feel unlike any other …

  • June 18, 2021

    June 2021 OBA Legal Briefs

    CFPB to mortgage servicers: “Hear us NOW” Changes in UCCC amounts effective July 1, 2021 CFPB to mortgage servicers: “Hear us NOW” By Andy Zavoina The Consumer Financial Protection Bureau issued Bulletin 2021-02 on April 1, 2021. This was no April Fools’ joke, because the bulletin is entitled “Supervision and Enforcement Priorities Regarding Housing Insecurity.” I focus on the words …

  • June 18, 2021

    Bank economists see robust recovery throughout year

    The U.S. economy is recovering rapidly and is expected to yield inflation-adjusted growth of 7.2% over the four quarters of this year before easing to a still-robust 3.1% in 2022, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. “Since the committee met in January, further federal stimulus and a tremendously successful vaccine rollout are fueling …

  • June 17, 2021

    Juneteenth holiday enacted; federal government to close Friday

    Breaking news courtesy the ABA: President Biden this afternoon signed legislation recognizing Juneteenth as a federal holiday. The new June 19 holiday commemorates the day in 1865, two and a half years after the Emancipation Proclamation and two months after the end of the Civil War, when hundreds of thousands of enslaved men and women in Texas finally learned they …

  • June 15, 2021

    Week of June 14

    In This Issue… Services activity continues to expand in Tenth District 2021 OBA Directory of Banks available OBA education corner … Services activity continues to expand in Tenth District The Federal Reserve Bank of Kansas City released the May Services Survey recently. According to Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City, the survey …

  • June 14, 2021

    Agencies recently issue host state loan-to-deposit ratios

    Federal bank regulatory agencies recently issued the host state loan-to-deposit ratios that are used to evaluate compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace the prior year’s ratios from June 2020. By law, a bank is generally prohibited from establishing or acquiring branches outside of its home state primarily for …

  • June 8, 2021

    Week of June 7

    In This Issue… Consumer credit shows marked increase OBA welcomes new strategic members 2021 Senior Management Conference set this month in Las Vegas OBA education corner … Consumer credit shows marked increase In April, consumer credit increased at a seasonally adjusted annual rate of 5.3 percent, according to a release by the Federal Reserve on Monday. Revolving credit decreased at …