November 2017

  • November 14, 2017

    Week of Nov. 13

    Greetings from Guy By Guy Sims OBA Chairman Tax reform bills have now been introduced in the House and the Senate. Both bills contain language not favorable for community banks with Sub S ownership structure. In addition, the House plan contains language that would be detrimental for deferred compensation plans. These two issues will have a damaging effect on many …

  • November 7, 2017

    Week of Nov. 6

    Greetings from Guy By Guy Sims OBA Chairman Editor’s Note: Guy is currently on the road. In the meantime, Guy shared this photo from Las Vegas, where he is attending a conference. Back to top   Regulatory Feedback Initiative continues We need you! Did your bank undergo an exam in 2017? We are rapidly approaching the end of another year. …

  • November 6, 2017

    November 2017 OBA Legal Briefs

    “Legalese” for non-lawyers Required year-end housekeeping

  • November 1, 2017

    Bad news: Crapo/Brown negotiations fail

    We have now confirmed the ranking member of the Senate Banking Committee, Sherrod Brown (D-Ohio), has walked away from the negotiations with Committee Chairman Mike Crapo (R-Idaho) on a proposed package for regulatory relief aimed at community banks. He did so in spite of his public statements some three weeks ago that progress was being made on a compromise, bipartisan …

  • November 1, 2017

    Executive News: Well … nuts

    It’s just recently been announced Sen. Sherrod Brown (D-Ohio) has given up and walked away from the somewhat intense negotiations with Sen. Mike Crapo (R-Idaho) who chairs the Senate Banking Committee. Brown is the ranking member of the Committee, which means he is the top Democrat serving on the Senate Banking Committee. He has a strong voice when it comes …

  • November 1, 2017

    Republican House leaders draft tax reform legislation

    On Nov. 2, House Republican leaders released a draft of tax reform legislation – the Tax Cuts and Jobs Act – that makes numerous changes to the tax code for corporations and individual taxpayers. The more than 400-page bill also includes a number of provisions that will have a direct and indirect effect on the banking industry. Among the key …

October 2017

  • October 31, 2017

    Week of Oct. 30

    Greetings from Guy By Guy Sims OBA Chairman Another interesting week in politics, both at the state and national level. At the state capitol, the Republican-led House failed to pass a budget bill on Wednesday and failed to pass a budget bill out of committee on Friday.  These two measures were the “brainchild” of Senate Republicans!  The state budget issue …

  • October 26, 2017

    Senate overturns CFPB’s anti-arbitration rule

    The U.S. Senate overturned the Consumer Financial Protection Bureau’s controversial anti-arbitration rule on Tuesday. The vote was 51-50, and it now goes to President Trump for his signature. The vote was along party lines with Republican senators (including Oklahoma Sens. Inhofe and Lankford) voting “yes” and Democratic senators voting “no,” with the exception of two Republican senators – Lindsay Graham …

  • October 23, 2017

    Week of Oct. 23

    Greetings from Guy By Guy Sims OBA Chairman The past four weeks have been busy at the OBA. The Bankers’ Night Out series was held at six locations across the state, more than 70 Oklahoma bankers traveled to Washington for the annual congressional visit and several Oklahoma bankers attended the ABA convention in Chicago. This week will include GRC (Government …

  • October 18, 2017

    Oklahoma Banking Code

    Oklahoma Banking Code order form (.pdf) Order online This annually revised desktop reference is a must for every bank, attorney and CPA. It contains: All the statutory provisions of the Banking Code; complete rules of the State Banking Board; legislative changes; Oklahoma Financial Privacy Act; Oklahoma Tax Commission; decedent account reporting statute; in-lieu tax provision; sale of checks act; branch banking …