Oklahoma Bankers Association We make bankers better!
The January deadline for covered businesses to register their beneficial ownership information is on hold following a order from the Fifth Circuit Court of Appeals on Dec. 26. On Dec. 23, the Fifth Circuit lifted a nationwide injunction issued by the district court judge earlier this month in a Texas lawsuit challenging the Corporate Transparency Act, which requires covered businesses …
December 2024
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December 27, 2024
Court hits pause on beneficial ownership registry deadline
The January deadline for covered businesses to register their beneficial ownership information is on hold following a order from the Fifth Circuit Court of Appeals on Thursday. On Monday, the Fifth Circuit lifted a nationwide injunction issued by the district court judge earlier this month in a Texas lawsuit challenging the Corporate Transparency Act, which requires covered businesses to report …
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December 26, 2024
Executive News: Let’s celebrate our newest Hall of Fame inductees
On Dec. 5, the Oklahoma Bankers Hall of Fame inducted four new members. This year’s class included four outstanding bankers who have been – and still are – pillars in the banking industry, their communities and the state of Oklahoma. This group of bankers falls right in line with previous inductees with their storied history and contributions still being made …
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December 26, 2024
FDIC insurance reform: time is NOW
By Alicia Wade Executive Vice President and COO, Sovereign Bank OBA Chair The Federal Deposit Insurance Corporation insurance system, which has long served as a cornerstone of depositor confidence and banking stability, needs reform. With a new wave of leadership on the horizon in Washington, D.C., now is the perfect time to address the growing concerns that threaten the effectiveness …
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December 25, 2024
Court reinstates beneficial ownership registry deadline
The U.S. Court of Appeals for the Fifth Circuit on Monday reinstated the enforceability of the Corporate Transparency Act and lifted the nationwide injunction issued by the district court judge earlier this month. In the process, the court reinstated the Jan. 1, 2025, compliance deadline for most covered businesses to report their beneficial ownership information to the Financial Crimes Enforcement …
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December 24, 2024
Court issues partial injunction against Illinois law restricting interchange fees
A federal judge on Friday ordered a preliminary injunction against enforcement of an Illinois state law restricting interchange fees for national banks and federal savings associations but left the law in effect for Illinois-chartered institutions and credit card networks for now. The order also leaves the law in effect for out-of-state banks and federal credit unions until the court can …
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December 23, 2024
Week of Dec. 23
In This Issue… Happy holidays from us! From Adrian’s desk … Court reinstates beneficial ownership registry deadline Court issues partial injunction against Illinois law restricting interchange fees Agencies release annual asset-size thresholds for CRA regulations OBA education corner … Happy holidays from us! Happy holidays and merry Christmas from your family here at the OBA! In observance of Christmas, our …
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December 22, 2024
December 2024 OBA Legal Briefs
Check your to do list By Pauli Loeffler Let’s review some of your annual compliance chores to ensure they are tidy and cared for. Security, Annual Report to the Board of Directors § 208.61 – The Bank Protection Act requires that your Security Officer report at least annually to the board of directors on the effectiveness of the security program. …
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December 16, 2024
State banking board approves reduction in 2025 assessments
At its meeting in November, the Oklahoma State Banking Board approved the State Banking Commissioner Mick Thompson’s recommendation to reduce assessments paid by Oklahoma state-chartered banks. After setting assessments at the rate first established in 2004, the board then approved a discount of 70% for banks with assets less than $1 billion and 25% for banks with assets exceeding $1 …
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December 16, 2024
Week of Dec. 16
In This Issue… From Adrian’s desk … OBA creates fraud questionnaire for bank customers Associations file suit challenging CFPB overdraft fees cap 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! • • • With …