Oklahoma Bankers Association We make bankers better!
In This Issue… Court lifts stay on COVID-19 vaccine mandate OBA offices closed Friday for holidays Deposit Insurance Fund remains on track for recapitalization OBA education corner … Court lifts stay on COVID-19 vaccine mandate Late last week, a panel within the Sixth Circuit Court of Appeals lifted a judicial stay of the COVID-19 vaccine mandate issued by the Occupational …
December 2021
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December 21, 2021
Banking profits increase in third quarter
Net income at Oklahoma banks increased by more than 50% overall from the second quarter to the third quarter of 2021. The FDIC’s latest Quarterly Banking Profile, which was released in late November, showed good news for Oklahoma banks. After reporting $999 million in profits through the end of the second quarter, Oklahoma commercial banks showed more than $1.5 billion …
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December 16, 2021
Security advisory released about logging utility
The U.S. Cybersecurity & Infrastructure Security Agency recently released a security advisory related to a specific logging utility (Log4j) that is embedded in a variety of software enterprise applications. Log4j is very broadly used in a variety of consumer and enterprise services, websites and applications as well as in operational technology products to log security and performance information. …
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December 16, 2021
Small business optimism index increases in November
In November, the NFIB Small Business Optimism Index rose 0.2 points to 98.4. The Uncertainty Index fell 4 points to 63 points. Business owners intend to generate new employment at a seasonally adjusted net 25.0%, down 1 point from the previous month. The percentage of business owners who believe now is a favorable time to expand remained unchanged from the …
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December 14, 2021
Week of Dec. 13
In This Issue… OBA taking donations for tornado victims OCC nominee withdraws from consideration OBA education corner … OBA taking donations for tornado victims Last week, Kentucky suffered severe tornado damage, the worst in state history. The primary tornado was tracked as being on ground for more than 200 miles, impacting at least 19 counties and four other states. Banks …
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December 9, 2021
Supervisory Highlights Report Flags Mortgage Servicing, Fair Lending Issue
The Consumer Financial Protection Bureau (CFPB) today released a “Supervisory Highlights” report concentrating on examiner observations of different financial products from January to June 2021. Credit card account management, debt collection, deposits, fair lending, mortgage servicing, payday lending, prepaid accounts, and remittance transfers are among the areas where problems were discovered, according to the bureau. To read the full report, …
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December 7, 2021
Week of Dec. 6
In This Issue… Compliance Alliance offers demo days, complimentary access, exclusively for OBA members Thank you to 2021 Oklahoma Bankers Hall of Fame sponsors! OBA welcomes new strategic member OBA education corner … Compliance Alliance offers demo days, complimentary access, exclusively for OBA members Compliance Alliance is offering demo days for OBA members, allowing complimentary 48-hour trials of the service. …
November 2021
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November 30, 2021
PPP loans prompt state-level employment growth
The Federal Reserve Bank of Cleveland determined in a new study brief this week that Paycheck Protection Program loans served to reduce the effects of the pandemic-related recession on state-level employment growth and had “substantial” advantages overall. Researchers discovered that providing one additional week of payroll support through PPP loans during the first round of PPP lending “would have minimized …
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November 30, 2021
Week of Nov. 29
In This Issue… Banks stay strong as banking system conditions improved in 2021 2021 Oklahoma Bankers Hall of Fame induction ceremony set for Thursday OBA education corner … Banks stay strong as banking system conditions improved in 2021 The banking system’s financial situation remained improved in the first half of 2021, according to the Federal Reserve’s latest supervision and regulation …
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November 23, 2021
Week of Nov. 22
In This Issue… State banking board approves reduction in 2022 assessments OBA offices closed Thursday, Friday this week OBA education corner … State banking board approves reduction in 2022 assessments The Oklahoma State Banking Board voted at its November meeting unanimously to reduce the assessments paid by Oklahoma state-chartered banks. The 2022 assessment rate was discounted 40% for each bank …