News

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 …

OKLAHOMA CITY — Community banks take great pride in being the foundation of their communities. When cities and towns are in need, they don’t hesitate to help in any way possible. These banks are also just as quick to react when the neighborhoods of their peers need assistance. Following the recent rash of hurricanes in Texas, Puerto Rico, Florida and …

Greetings from Guy By Guy Sims OBA Chairman The House passed a tax reform bill Thursday and the Senate version is on a fast track for a vote before Christmas. Several Senate Republican have already come out against the Senate version of the bill and there is no support from Democrats at this point.  Should the Senate pass the current …

Greetings from Guy By Guy Sims OBA Chairman Tax reform bills have now been introduced in the House and the Senate. Both bills contain language not favorable for community banks with Sub S ownership structure. In addition, the House plan contains language that would be detrimental for deferred compensation plans. These two issues will have a damaging effect on many …

Greetings from Guy By Guy Sims OBA Chairman Editor’s Note: Guy is currently on the road. In the meantime, Guy shared this photo from Las Vegas, where he is attending a conference. Back to top   Regulatory Feedback Initiative continues We need you! Did your bank undergo an exam in 2017? We are rapidly approaching the end of another year. …

On Nov. 2, House Republican leaders released a draft of tax reform legislation – the Tax Cuts and Jobs Act – that makes numerous changes to the tax code for corporations and individual taxpayers. The more than 400-page bill also includes a number of provisions that will have a direct and indirect effect on the banking industry. Among the key …

Greetings from Guy By Guy Sims OBA Chairman Another interesting week in politics, both at the state and national level. At the state capitol, the Republican-led House failed to pass a budget bill on Wednesday and failed to pass a budget bill out of committee on Friday.  These two measures were the “brainchild” of Senate Republicans!  The state budget issue …