The Oklahoma State Banking Board voted unanimously at its November meeting to reduce the assessments paid by Oklahoma state-chartered banks. The 2023 assessment rate was discounted 50% for each bank with assets less than $1 billion and 25% for each bank with assets more than $1 billion. During the meeting held Nov. 16, State Banking Commissioner Mick Thompson explained how …

President Joe Biden announced his intent this week to nominate Martin Gruenberg to serve as chair and member of the board of directors of the Federal Deposit Insurance Corporation. Gruenberg is currently acting chairman and member of the board of directors of the FDIC. He joined the FDIC Board of Directors in August 2005 and has served as vice chairman, …

In This Issue… Gruenberg nominated to head FDIC again Oklahoma Bankers Hall of Fame induction ceremony set for Dec. 8 Oklahoma Bar Association issues IOLTA Rule clarification OBA education corner … Gruenberg nominated to head FDIC again President Joe Biden announced his intent this week to nominate Martin Gruenberg to serve as chair and member of the board of directors …

The Oklahoma Bankers Hall of Fame inducted its 2022 class – its fourth ever – today at the Oklahoma History Center in Oklahoma City. Dr. Sinclair Armstrong Jr., with Armstrong Bank in Muskogee; Shirley Barber, a longtime banker with Security State Bank in Cheyenne; Robert H. Croak, with FNB Community Bank in Midwest City; and the late John Massey, with …

The Consumer Financial Protection Bureau released a new bulletin last week highlighting complaints the agency has received related to cryptoassets. Consumers most commonly reported being victimized by fraud, theft, account hacks and scams. Consumers also had issues with executing transactions and transferring assets between exchanges, while others had issues accessing account funds due to platform failures, identity verification issues, security …

First rain, now snow. Due to the weather, the OBA Oktoberfest Golf Tournament scheduled for Nov. 14 has been CANCELED. Your registration fees will be refunded. Save the date: Please plan to play in the OBA spring golf tournament on Monday, May 8 at Belmar Golf Club in Norman. This event is held in conjunction with the 2023 OBA Convention.

Election day has finally arrived and the people have spoken. As this issue of Oklahoma Banker goes to press, however, we still don’t know the results of numerous federal elections and who will control the U.S. Senate and the U.S. House. By the time this issue hits your mailboxes, though, you might! We do have all the results of the …

The Federal Open Market Committee announced this month it would raise the target range for the federal funds rate to 3.75 to 4% – the sixth rate increase this year and the fourth time the the rate was raised by 75 basis points. FOMC also reiterated it believes ongoing increases will be necessary to help return inflation closer to its …

The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 8 in Oklahoma City. Dr. Sinclair Armstrong Jr., chairman of the board at Armstrong Bank in Muskogee; Shirley Barber, former president and CEO of Security State Bank in Cheyenne and the first female member of the Oklahoma …

As this issue of Oklahoma Banker goes to press, the Republican Party remained dominant in statewide Oklahoma races. Gov. Kevin Stitt retained his seat as governor, as he defeated Joy Hofmeister, while Markwayne Mullin defeated Kendra Horn for the unfilled term of Sen. Jim Inhofe’s seat. In the other U.S. Senate race, incumbent James Lankford easily defeated Madison Horn. In …