In This Issue… Reviewing CFPB’s latest supervisory highlights Preparing comment letter about FedNow OBA education corner …

On Friday, Sept. 27, federal banking agencies issued a final rule that raises the appraisal threshold for residential real estate transactions to $400,000. The threshold has been at $250,000. The new threshold addresses numerous concerns raised industry stakeholders over the time and cost of appraisals. Under the rule, transactions that qualify for the exemption still need to obtain an evaluation …

In This Issue… Agencies finalize rule raising residential real estate appraisal threshold SAFE Banking Act will benefit customers Banker op-ed: Lack of interoperability in real-time payments could limit choice OBA education corner …

Last night, we distributed a Banker Direct in which we included the news about the U.S. House of Representatives’ passage of H.R. 1595, the SAFE Banking Act. The bill was placed on the suspension calendar (meaning it was non-controversial) and passed 321-103, with nine members not voting. We were able to access the vote tally late last night and the …

The U.S. House of Representatives passed the SAFE Banking Act earlier today in a 321-103 bipartisan vote. The Act would help legal cannabis-related businesses gain access to banks without punishment from federal banking regulators. The bill would also help banks meet the needs of their communities while also reducing the possibility of cash-motivated crimes at marijuana-related businesses because of their …

The Federal Reserve Bank of Kansas City released the results from the Second Quarter 2019 national Small Business Lending Survey this week. The quarterly survey of U.S. banks provides data on lending activity and terms for small businesses, a critical source of employment and economic growth for the country. Complete results of the survey are now available from the Kansas …

In This Issue… Two Oklahoma bankers candidates for FHLB seats – please vote! Check out photos from OBA Annual Washington Visit ICYMI: Labor Department releases final overtime rules Limited spots available for upcoming OBA Consumer Lending School OBA education corner …

I recently read an article in the American Banker about traditional community banks and their need for FinTech firms. The headline, “Traditional Banks Continue to Flirt with Obsolescence,” got my attention and, after reading what I thought was a sales pitch, I began to think about what he said or was trying to say. Robertson is the founder and CEO …

Although all FDIC-insured institutions reported net income of $62.6 billion at the end of the second quarter, Oklahoma banks were off by almost 4 percent when compared to the industry’s 2018 earnings at this same point. “The drop in income conforms to the earlier trends we’ve seen,” OBA President and CEO Roger Beverage said. “What’s interesting is that assets rose …

The Consumer Financial Protection Bureau will continue to publish a database of consumer complaints, but it will make several key changes to increase transparency and provide full context for consumers, the agency announced on Sept. 18. Among these changes are several advocated by the American Bankers Association. For example, the bureau said it will highlight consumers’ ability to contact their …