Saturday, September 30, 2023

OKBanker Direct

September 2023

  • September 28, 2023

    FedNow survey for banks

    At the request of some of our board members, the OBA has put together a short (three questions) survey regarding the FedNow service. If you, or someone at your bank, could take this quick survey, it would help us answer some questions about how many are using the system and in what way. We will share the results in an …

  • September 27, 2023

    Twice as nice: double good news for bankers

    The U.S. Senate Committee on Banking, Housing and Urban Affairs passed the SAFER Banking Act today, which protects financial institutions that provide banking and financial services to cannabis-related businesses. The vote marked the first time the Senate, in any form, has voted in favor of either the SAFER Banking Act, or its predecessor, the SAFE Banking Act. While there are still …

  • September 21, 2023

    Inductees selected for Oklahoma Bankers Hall of Fame

    The 2023 induction class for the Oklahoma Bankers Hall of Fame has been unveiled. Nevyle Cable, Jim Hamby, Harry Leonard and Ted McGuire will make up the 2023 class and officially be inducted on Dec. 7 at the Oklahoma History Center in Oklahoma City. • Nevyle Cable is the longtime president and CEO of First National Bank and Trust Co., in Okmulgee. He retired in …

  • September 15, 2023

    Injunction granted against CFPB on Sec. 1071

    The U.S. District Court for the Eastern District of Kentucky granted a motion for injunction against the Consumer Financial Protection Bureau on Thursday evening, stopping the CFPB from enforcing its small business data collection rule (Sec. 1071). The Order from the Court reads, “The Consumer Financial Protection Bureau is ENJOINED from enforcing the Small Business Lending Rule until the Supreme …

  • September 9, 2023

    Judge rules against CFPB in UDAAP exam manual lawsuit

    A U.S. district judge ruled today the Consumer Financial Protection Bureau’s update to its Supervision and Examination Manual is unlawful. Judge J. Campbell Barker, of the Eastern District of Texas, agreed with plaintiffs and issued a summary judgment stating the CFPB’s March 2022 update to the manual exceeds the Bureau’s statutory authority and is based on unconstitutional funding. The lawsuit …

August 2023

  • August 21, 2023

    Petroleum Alliance of Oklahoma hosts free program for bankers on navigating emissions reporting issues

    The Petroleum Alliance of Oklahoma will host a free program on Wednesday about how bankers can navigate the emissions reporting conversation with their oil and gas customers. The Alliance is currently working on two fronts on ESG requirements: 1) Make sure new and proposed emissions regulations are workable and practicable, instead of unworkable and punitive … or potentially fatal to …

  • August 2, 2023

    New Kansas City Fed president/CEO named

    The current president and CEO of the Southwestern Graduate School of Banking Foundation at Southern Methodist University has been appointed the next president and CEO of the Kansas City Fed, effective later this month. Jeffrey Schmid, who has served with SWGSB since 2021, will take the reins of the Kansas City Fed on Aug. 21. Schmid succeeds Esther George, who …

July 2023

  • July 31, 2023

    Federal court halts Section 1071 implementation

    A Texas federal judge issued an order today for an injunction against the Consumer Financial Protection Bureau’s Section 1071 final rule. The injunction, which came at the request of the American Bankers Association, the Texas Bankers Association and McAllen, Texas-based Rio Bank, is ONLY for member banks of the ABA and/or TBA. Although both trade associations asked for the injunction …

  • July 27, 2023

    Congress to vote soon on credit card legislation

    Proponents of the Credit Card Competition Act are trying to latch it on as an amendment to the must-pass National Defense Authorization Act – and pass it quickly before Congress adjourns for an August break. Your senators need to hear from you. Although both Sen. Lankford and Sen. Mullin have opposed this legislation in the past, it’s important to remind …

June 2023

  • June 16, 2023

    FDIC updates guidance on multiple re-presentment NSF fees

    The FDIC has updated its Supervisory Guidance on Multiple Re-Presentment NSF Fees to clarify its supervisory approach for action when a law is violated. Since the issuance of the Supervisory Guidance on Multiple Re-Presentment NSF Fees, steps financial institutions have taken to remediate consumer harm associated with re-presentment fees have provided the FDIC with additional data about the amount of …