Oklahoma Bankers Association
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OBA dues drafting error

December 8, 2016

By Lea Ann Jackson
OBA Chief Financial Officer

As we mentioned in previous communications, dues payments from member banks were processed Tuesday for those using the ACH process.

Unfortunately, the process was submitted incorrectly and the amounts were deposited into member banks' accounts rather than withdrawn.

The reversal entry was submitted this morning as soon as we realized the mistake. The correct entry will be processed and reflected on your account Thursday morning.

I apologize for any inconvenience this may have caused you or your bank and accept full responsibility for the error. Please feel free to contact me (leaann@oba.com; 405-424-5252) with any questions you may have.


D.C. Court of Appeals rules CFPB structure unconstitutional

In what can only be described as a great result, the court of appeals for the D.C. Circuit ruled unanimously recently the current structure of the Consumer Financial Protection Bureau represents an unconstitutional concentration of executive power.

It's true the president can confer executive power down to the heads of lower administrative agencies. But in doing so, there have to be limits that power.

The Court stated there are limits to executive power conferred by the president on administrative agencies or independent commissions. The CFPB is an “independent” agency because its director can only be removed by the president for cause, rather than “at will.” The court went on to state that:

“This ruling is very big deal,” OBA President Roger Beverage said. “It's the first dent in the armor of the Dodd-Frank Act and it should encourage Congress to make realistic and meaningful changes to it, including regulatory relief for traditional community banks.”

Six financial tips for military families

In honor of Military Family Month and upcoming Veterans Day, the American Bankers Association is highlighting six financial tips to help military families manage their money. 
“Service members and their families often cite finances as one of their most significant stressors, even more so than deployments and personal relationships,” said Corey Carlisle, executive director of the ABA Foundation. “Service members can't adequately focus on the job at hand if they are concerned about financial problems at home. Military families face unique financial challenges like deployments and relocations, so we stress the importance of planning ahead as much as possible.” 
ABA offers the following financial tips for service members and their families (click here to read more).

OBA president to Congress: Over-regulation harms small banks, communities

Excessive regulation is making it more difficult for the nation's community banks to aid their customers, particularly in small, rural communities, according to testimony on Thursday from the Oklahoma Bankers Association's president and CEO to the U.S. House Small Business Subcommittee on Economic Growth, Tax and Capital Access.

OBA President and CEO Roger Beverage told the subcommittee a community bank is much more than simply a bank to residents of small and rural communities and the excessive regulations currently being placed on the industry, particularly from the Dodd-Frank Act, are forcing these community banks to merge with larger ones or simple shutter their doors.

Click here to read more!


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