Oklahoma Banker

August 2022

  • August 11, 2022

    Executive News: Looking ahead to last-minute legislation

    Well, here we are: In my opinion, this is the most dangerous time for any industry. We are within weeks of the first round of midterms for President Biden. History will tell you if Congress is controlled by the same party as the president, it will suffer a loss of congressional seats and usually control of the House. The current …

  • August 11, 2022

    ‘Banks are safe’ PSAs available

    The Oklahoma Bankers Association has created “Banks are safe” public service announcements for its member banks, both in advertising form as well as in story form, ready for display at the bank or for insertions into local newspapers. These free ads and stories echo the Association’s successful “Nothing’s Safer Than Money In The Bank” public relations campaigns from the past …

  • August 11, 2022

    State Banking Department addresses Skip-A-Payment

    The Oklahoma State Banking Department issued a statement this weekend concerning the FDIC’s position on the Skip-A-Payment program. The OSBD has yet to receive any complaints on the program, although the FDIC has recently determined it is “unfair and deceptive” unless accompanied by “clear and adequate disclosures. Below is the full statement from the OSBD: We understand the FDIC’s position …

  • August 11, 2022

    FDIC releases advisory on insurance, crypto

    The FDIC issued an advisory to banks in late July regarding what it says are misrepresentations by some cryptocurrency companies that their products are eligible for FDIC deposit insurance coverage or that customers are FDIC-insured if the crypto company fails. “Over the past several months, some crypto companies have suspended withdrawals or halted operations. In some cases, these companies have …

July 2022

  • July 12, 2022

    Executive News: Primaries (almost) wrap up across state

    We have all survived the June 28 primaries and the last-minute onslaught of television ads as well as dreading the mail every day knowing it will be full of political pushcards. Don’t get too comfortable – We have numerous run-off elections that will be held on Tuesday, Aug. 23. While there won’t be as many races on Aug. 23, there …

  • July 12, 2022

    Oklahoma becomes title-holding state

    Effective July 1, Oklahoma became a title-holding state. The Oklahoma Tax Commission on June 7 sent the OBA the below “MEMO” with information. The OTC held several training sessions during the past month, to help bankers and others get acclimated to the changes. We have slides and videos related to these sessions, available on the front page of OBA.com. MEMO …

  • July 12, 2022

    OCC: Banks ready for economy issues

    Banks’ financial conditions are strong and they continue to be ready to “deal with the economic headwinds arising from geopolitical events, higher interest rates and increased inflation,” according to the OCC’s Semiannual Risk Perspective report for spring 2022 issued late last month. The report addresses key topics facing banks, focusing on those that pose threats to safety and soundness and …

June 2022

  • June 22, 2022

    Executive News: Legislature adjourns, to much rejoicing within OBA

    Sine die: The two greatest words that anyone involved in state politics can hear. This Latin phrase is defined as “indefinitely, or without a future date set.” The Second legislative session of the 58th legislature is officially over with that phrase. It was my 22nd state legislative session and every one one of them is unique in their own special …

  • June 22, 2022

    Oklahoma Bankers Hall of Fame taking 2022 nominations

    The OBA will be taking nominations for 2022 Oklahoma Bankers Hall of Fame inductees through the middle of July. The Hall of Fame was created by the OBA Board of Directors to honor individual bankers for their contributions to the banking industry and the State of Oklahoma. In addition, the Hall of Fame is intended to recognize bankers’ achievements on …

May 2022

  • May 27, 2022

    Executive News: Federal elections begin heating up

    We are less than one month away from the end of the state legislative session. Constitutionally, it has to adjourn sine die no later than 5 p.m. on the last Friday in May. My guess is the members will get out early, but how early is anyone’s guess. They still haven’t reached a budget agreement and you’ll need a minimum …