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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 2021
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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 …
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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 …
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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 …
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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 …
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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 …
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June 7, 2021
SBA releases information on correcting PPP forgiveness errors
The Small Business Administration is establishing a forgiveness payment correction process for lenders that made a mistake in requesting the accurate forgiveness amount. Effective immediately, lenders can send a platform message, using message type of “Payment or Reconciliation Questions”, to request forgiveness payment corrections. The message must include the SBA loan number, the amount of the correction being requested and …
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June 3, 2021
Relive convention with our photo page!
Did you happen to miss convention? Well, if so, we missed you! Luckily, we have a bevy of photos to share from the event, ready for you to peruse. Click here to visit the convention photo page.
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June 2, 2021
Former OBA president/CEO honored at convention
During our convention last week, we held a special ceremony for our recently retired president and CEO, Roger Beverage. During the ceremony, a video was shown of Sen. James Lankford giving a speech on the U.S. Senate floor commemorating Beverage’s 33 years as the OBA’s chief. Additionally, a slideshow of various photos from Beverage’s time with the OBA was shown. …
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June 2, 2021
Stronghold Data
Stronghold Data is an MSP based in Joplin, MO with a proven track record of success. As a testament to that success, we were the recipients of the highest award in our industry last year: the 2023 MSP of the Year. This is our second MSP of the Year award in the past three years. Founded over 30 years ago, …