Oklahoma Banker

September 2024

September 17, 2024
Court rejects challenge to CFPB’s Sec. 1071 rule

A Federal court on Aug. 27 denied a request for summary judgment in a lawsuit by the American Bankers Association, Texas Bankers Association and others challenging the Consumer Financial Protection Bureau’s small business data collection rule. In his decision, Judge Randy Crane ruled the CFPB did not exceed its authority in issuing the rule, nor did it violate the Administrative …

August 16, 2024
Executive News: Association ‘Alliance’ watches bankers’ interests

Last month when I finished my article, I immediately started thinking about my August column because it’s usually a little bit slower and quieter during the summer. While the summer months gives us an opportunity get caught up on projects and ready for the fall when things really start picking up, I always wonder what in the heck am I …
August 16, 2024
Oklahoma Bankers Hall of Fame accepting nominations for 2024

The Oklahoma Bankers Hall of Fame is now accepting nominations for the upcoming 2024 class; additionally, a reminder the process of selecting inductees was updated for last year going forward. The deadline to submit a nomination is Aug. 31. First, for those interested in nominating a banker, there are some downloadable forms linked on the front page of OBA.com – …
August 16, 2024
FDIC proposes enlargement of deposit broker definition

The FDIC board voted 3-2 on July 30 to move forward with a proposed rule that would expand the definition of “deposit broker” to capture many deposit placement arrangements that currently do not meet the criteria for enhanced scrutiny under current regulation, such as sweep deposits and those related to financial technology and cryptocurrency. The proposal would amend a 2020 …

July 22, 2024
Executive News: Primaries (almost) wrap up across state

We have survived the June 18 election primaries, the last-minute onslaught of tv ads and dreading opening the mailbox knowing it was full of political push cards. Don’t get too comfortable, though, as we have several runoff elections to be held on Tuesday, Aug. 27. While there won’t be as many races then, there are several important ones in the …
July 22, 2024
FDIC issues guidance on reg relief related to storms

The FDIC released guidance in mid-June with steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Oklahoma affected by recent severe storms and tornadoes. The agency encouraged banks in affected areas to work constructively with borrowers experiencing difficulties due to the severe weather, including extending repayment terms, restructuring existing loans or easing terms for …

June 12, 2024
Executive News: Legislative session rides roller coaster this year

The Second Regular Session of the 59th Oklahoma State Legislature finally came to an end – by later afternoon on May 30, both chambers had officially adjourned sine die. The legislature is constitutionally required to adjourn session by 5 p.m. on the last Friday in May. Rarely do they ever make it to the last day in the month, but …
June 12, 2024
Oklahoma banks post gains in first quarter

Both total assets and total deposits increased at Oklahoma bankers during the first quarter of 2024. Total assets at at Oklahoma banks jumped from $152.8 billion at the end of 2023, to $155.4 by the end of the first quarter on March 31. Total deposits, meanwhile, also increased from $122 billion to $125.6 billion. Net income, however, was a bit …
June 12, 2024
Agencies issue host state loan-to-deposit ratios

Federal bank regulatory agencies issued at the end of last month the host state loan-to-deposit ratios that are used to evaluate compliance with section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. These ratios replace those from May 2023. Oklahoma moved to 86% in the ratios released, a jump from the previous mark of 76%. Other …

May 22, 2024
Executive News: Speedbumps being hit in state legislature

We have officially entered the last month of the state legislative session, and just like clockwork, the craziness and the nonsense have already started. As I’ve mentioned before, the only thing the legislature is statutorily required to accomplish is to pass a state budget. So, all the policy issues still being considered must be across the finish line before the …

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