Aug12 Division Uses Legal Gymnastics to Clear the Way for Interra Credit Union
The Ohio Bankers League is deeply disappointed by the Ohio Division of Financial Institutions’ August 12th decision not to object to The Hicksville Bank’s proposed sale of substantially all its assets and liabilities to Interra Credit Union. The Ohio Division of Financial Institutions had a clear choice: enforce the will of the Ohio Legislature by enforcing current Ohio law or find a way to allow an out-of-state credit union to acquire an Ohio community bank. It chose the credit union.
Aug12 Ohio Bankers Foundation Launches Two New Community Education Programs
The Ohio Bankers Foundation is expanding its community impact this year with the launch of two new educational initiatives: Financial Success Seminars and Fraud Awareness Seminars. Hosted by banks in their local communities in partnership with OBL through the Foundation, the programs are designed to bring practical, accessible education directly to Ohioans where they live and work.
Through these seminars, participating banks will have a turnkey way to strengthen customer relationships, demonstrate leadership in financial wellness and help community members make informed decisions. OBL and the Foundation support banks by developing curriculum, coordinating instructors, assisting with event planning and providing marketing resources, allowing banks to focus on bringing people together and promoting the programs locally.
Jul29 Federal Reserve Holds Rates Steady as Dissent Grows
The Federal Reserve voted Wednesday to leave its benchmark federal funds rate unchanged at 3.50% to 3.75%, marking the fifth consecutive meeting without a change. While the decision was widely expected, the vote highlighted growing divisions within the Federal Open Market Committee.
Three regional Federal Reserve Bank presidents, including Cleveland Federal Reserve President Beth Hammack, dissented from the decision, favoring a 25-basis-point rate increase.