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Various association, including the American Bankers Association, The Bank Policy Institute, Ohio Bankers League filed litigation in late December against the Federal Reserve, challenging aspects of the stress testing framework the Fed uses to establish certain bank capital requirements. The lawsuit is focused on the lack of transparency in the current stress testing process, with the groups challenging the “opaque …

The Oklahoma Bankers Association, today, mourns the death – but celebrates the life – of prominent banker and Oklahoman Gene Rainbolt. Rainbolt was a leader and legend within the Oklahoma banking community, and truly among ALL Oklahomans as well. He was an inaugural inductee of the Oklahoma Bankers Hall of Fame in 2018, a chair of the OBA in 1970-71 …

The January deadline for covered businesses to register their beneficial ownership information is on hold following a order from the Fifth Circuit Court of Appeals on Dec. 26. On Dec. 23, the Fifth Circuit lifted a nationwide injunction issued by the district court judge earlier this month in a Texas lawsuit challenging the Corporate Transparency Act, which requires covered businesses …

The U.S. Court of Appeals for the Fifth Circuit on Monday reinstated the enforceability of the Corporate Transparency Act and lifted the nationwide injunction issued by the district court judge earlier this month. In the process, the court reinstated the Jan. 1, 2025, compliance deadline for most covered businesses to report their beneficial ownership information to the Financial Crimes Enforcement …

A federal judge on Friday ordered a preliminary injunction against enforcement of an Illinois state law restricting interchange fees for national banks and federal savings associations but left the law in effect for Illinois-chartered institutions and credit card networks for now. The order also leaves the law in effect for out-of-state banks and federal credit unions until the court can …

At its meeting in November, the Oklahoma State Banking Board approved the State Banking Commissioner Mick Thompson’s recommendation to reduce assessments paid by Oklahoma state-chartered banks. After setting assessments at the rate first established in 2004, the board then approved a discount of 70% for banks with assets less than $1 billion and 25% for banks with assets exceeding $1 …

The FDIC announced today that it has updated its questions and answers related to the final rule on the use of the agency’s name and logo by financial institutions. The new Q&As cover key implementation topics such as the use of the digital sign and placement of the official sign in bank branches, the agency said in a financial institution …

The Oklahoma Bankers Hall of Fame inducted its 2024 class – its sixth – today at the Oklahoma History Center in Oklahoma City. The late Guy Berry III, with American Heritage Bank, in Sapulpa; Herschel Brewster, with Blue Sky Bank, in Weatherford; Brad Krieger, with Arvest Bank; and Gregg Vandaveer, with Sooner State Bank, Tuttle; make up the 2024 group. …

The Office of the Oklahoma State Treasurer announced the relaunch of the Agricultural Linked Deposit Program, an initiative designed to support Oklahoma’s farmers, ranchers and agricultural businesses. The program, which launched on Nov. 1, will provide financial assistance to at-risk farms and alternative agricultural ventures. Through the Agricultural Linked Deposit Program, eligible agricultural businesses can access lower-interest loans to sustain …

The Treasury Department’s Bureau of the Fiscal Service implemented a new payee name validation capability within its Treasury Check Verification System application programming interface on Monday, according to a notice from the bureau. The change comes roughly a year after regulators tightened liability standards for Treasury check returns. TCVS is a tool that assists financial institutions with Treasury check verification. …