Oklahoma Banker

March 2025

March 20, 2025
FinCEN halts fines on BOI reporting

The Financial Crimes Enforcement Network announced late last month it will not issue fines or penalties against companies that fail to report their beneficial ownership information by the current deadline. Instead, it plans to issue an interim rule with a new deadline and later revise the reporting requirements to ease the burden on businesses. BOI collection had been on hold …

February 16, 2025
Executive News: New legislative session cued up at state level

At noon, Monday, Feb. 3, the Oklahoma legislature convened for the First Session of the 60th Oklahoma Legislature. The legislative session will run until 5 p.m. on the final Friday in May. There were over 3,100 bills filed this year between the House and the Senate. With 31 new legislators, we were expecting a lot of bills to be filed. …
February 16, 2025
Trump shuffles deck at agencies, departments

Since taking office, President Donald Trump has made several changes to department and agency heads, many which have a direct effect on the banking industry. Trump removed Rohit Chopra as director of the Consumer Financial Protection Bureau at the end of January. He later announced that Treasury Secretary Scott Bessent will serve as acting director of the CFPB. Chopra had …

January 21, 2025
Executive News: Changes afoot in state, national politics

Well, here we are – 2025 has finally arrived and, frankly, it seemed like it was never going to get here. The last couple of months of 2024 felt like the clock had stopped. Like the beginning of every new year, it’s a perfect time to reset and look forward with an optimistic view of what we’ll encounter in both …
January 21, 2025
Banker, philanthropist passes away

Renowned banker and philanthropist H.E. “Gene” Rainbolt passed away on Jan. 2. He was 95. Born in 1929 in Norman, Rainbolt started his banking career in 1959, acquiring his first bank in Purcell in 1962. In 1989, he founded BancFirst, now Oklahoma’s largest state-charter bank. He was also among the first class of the Oklahoma Bankers Hall of Fame. We …
January 21, 2025
Deadline paused on beneficial ownership registry deadline

The original January deadline for covered businesses to register their beneficial ownership information was put 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 …

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 …
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 …

November 25, 2024
Executive News: Elections are (almost) over … now fun begins

Well, it’s finally over, the 2024 elections have come and gone and now we must look and see what the future looks like for our industry. You could argue the 2024 election cycle has been going on for nearly four years, I don’t know if we ever had a break. We’ll get into what we can almost expect to happen …
November 25, 2024
Signs o’ the times

As this issue of Oklahoma Banker goes to press, the Republican Party emerged energized after the elections across the country on Nov. 5. Donald Trump won the presidential race over Vice President Kamala Harris. The Republican Party also regained control of the U.S. Senate, although the exact majority in the 100-person chamber was still unclear at press time. Control of …

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