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The Office of the Comptroller of the Currency (OCC) responded to commonly asked questions (FAQ) about a notice of proposed rulemaking seeking public comment on a plan to revoke the OCC’s Community Reinvestment Act (CRA) regulation, which was issued on June 5, 2020. (June 2020 CRA rule). The notice, which was published in the Federal Register on September 17, 2021, …

According to a new study done by Morning Consult on behalf of the American Bankers Association, nine out of ten Americans with a bank account are “extremely content” or “satisfied” with their primary bank, and 97% rank their bank’s customer service as “outstanding,” “very good,” or “good.” The poll, which was taken earlier this month and released Monday at the …

According to the American Bankers Association’s latest Consumer Credit Delinquency Bulletin, consumer credit delinquencies hit a new low in the second quarter of 2021 as the economy continued to improve. When compared to the previous quarter, delinquencies decreased in nine of the 11 loan categories analyzed by ABA. In the second quarter, delinquencies on bank cards (credit cards issued by …

According to the U.S. Census Bureau and the Department of Housing and Urban Development, new single-family home sales increased to a seasonally adjusted annual rate of 708,000 in July. The June rate is 1.0% higher than the revised June rate of 701,000, but it is still 27.2% lower than the July 2020 forecast of 972,000. To read more about this story, click …

OBA President and CEO Adrian Beverage appeared on two Tulsa TV stations this week to discuss the IRS reporting proposal and its possible negative ramifications. You can watch both video, as well as read the accompanying news stories by clicking the links below: FOX 23 – Sept. 29 KTUL – Sept. 30

The calculation representing the nondeductible portion of member dues attributable to lobbying expenditures has been made for the OBA’s year ending April 30, 2021. The source of the information used to determine this percentage included the Association’s general ledger and an estimate of the percentage of time related to applicable personnel’s involvement with lobbying activities by management of the Association. …

NBC Oklahoma President and CEO H.K. Hatcher appeared as a guest columnist in The Oklahoman this weekend, opining on the proposed IRS tax reporting law. Hatcher wrote the proposal would “result in unnecessary costs to taxpayers and add an extensive amount of extra and unnecessary work for everyone involved – the IRS and our financial institutions.” You can read Hatcher’s …

Despite the drop in net interest revenue, 64.1% of Oklahoma banks reported more net interest income than the previous year, according to the recently released Quarterly Banking Profile by the FDIC for the second quarter. For Oklahoma banks, the average return on assets was 1.24% in the second quarter of 2020, up from 0.36% the previous quarter. The FDIC reported …

According to the Bureau of Labor Statistics, total nonfarm payroll employment increased by 235,000 in August. In August, the total number of unemployed people fell to 8.4 million, and the unemployment rate fell to 5.2%. Professional and business services, transportation and warehousing, private education and manufacturing accounted for the majority of employment growth in August. To read this story in its …

The Federal Bureau of Investigation and the Cybersecurity and Infrastructure Security Agency recently released a Joint Cybersecurity Advisory, urging businesses to defend themselves from ransomware threats during the holidays and weekends when most businesses are closed. Ransomware attacks and wire fraud with a high impact are most likely to occur just before holidays and weekends. Bankers should encourage their coworkers …