Homepage News

 In case you missed it, Lower East Side People’s Federal Credit Union filed suit against the President and Acting CFPB Director, Michael Mulvaney, alleging that Mulvaney’s appointment violates the constitution. The credit union has $55 million in total assets. It’s CEO alleges that Deputy Director Leandra English is the proper and only lawful Acting Director of this massive regulatory agency that is not …

 As you know by now, there’s good news for community bankers at the CFPB:  In addition to the fact that Richard Cordray is no longer the Director of the Consumer Financial Protection Bureau, (he has just announced his long-anticipated candidacy for Governor of Ohio), it seems pretty clear that the President’s selection of Mick Mulvaney as Acting Director is going …

 Statement of Tom Hoenig, FDIC Vice Chairman on the action by the Senate Banking Committee moving S. 2155 to the full Senate. I am pleased that the Senate Banking Committee has advanced the regulatory relief debate with approval of S. 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act. The underlying goal of the legislation is one I have long advocated: easing …

Oklahoma banks continue their collective journey to another record-earnings year, according to the FDIC’s release of the Quarterly Banking Profile on Monday. “Needless to say, this is great news for the industry,” OBA President and CEO Roger Beverage said. “The previous record was set in 2015, at $1.024 billion. At the end of September, the year-to-date net income for the industry …

We want to wish all our bankers and their families a happy Thanksgiving! Try not to eat too much turkey this weekend! The OBA offices will be closed on Thursday and Friday this week in observance of the holiday. We will reopen at our regular time on Monday, Nov. 27.

Consumer Financial Protection Bureau Director Richard Cordray announced today he will be leaving his position, effective by the end of this month. Cordray, the first director of the CFPB, is thought to be considering a bid as governor of his home state of Ohio in next year’s election, although he has not confirmed this nor launched an official campaign. He …

On Nov. 13, members of the Senate Banking Committee unveiled a proposed compromise on regulatory relief for community banks, according to OBA President Roger Beverage. “It’s not everything we wanted,” Beverage said. “I still want to see if this is the final ‘take-it-or-leave-it’ version or if we can add some tweaks. “The most obvious omission is that it doesn’t talk …

We have now confirmed the ranking member of the Senate Banking Committee, Sherrod Brown (D-Ohio), has walked away from the negotiations with Committee Chairman Mike Crapo (R-Idaho) on a proposed package for regulatory relief aimed at community banks. He did so in spite of his public statements some three weeks ago that progress was being made on a compromise, bipartisan …

I was recently in D.C. with 70 fellow bankers. During our visit, Rep. Lucas took time out of his busy schedule to meet with us for a few minutes. His dedication is greatly appreciated. During our visit, a hot topic was tax reform. As I understand it, the bill would have an easier road if it were revenue neutral. I …

The recent OBA Annual Washington Visit was highlighted in the Oklahoma State Banking Department’s monthly newsletter for October. The newsletter mentioned our Oklahoma bankers made a “powerful statement with record attendance” during the Visit, and also pointed out how several OBA Emerging Leaders made the trip. Oklahoma State Banking Commissioner Mick Thompson joined the more than five dozen bankers on the annual …