04/14/21
Banking activity in the Federal Reserve Bank of Cleveland's region increased moderately between late February and early April according to the central bank's latest Beige Book, released this afternoon.
04/14/21
This week, OBL submitted comments on a Joint Agency Proposal from the OCC, FDIC, and Federal Reserve requiring banking organizations and bank service providers to provide notice of a computer-security incident to their primary federal regulator within 36 hours of the event. OBL pushed for additional clarification and flexibility to ensure that any such proposal is workable.
04/14/21
OBL supported legislation passed last General Assembly drastically changing Ohio’s employment laws in favor of employers is effective tomorrow. Among numerous changes, the bill reduces the timeframe to file a state employment discrimination claim from six years, the longest in the country, to two years.
04/14/21
The Ohio House of Representatives released its version of the State Operating Budget this week with several changes from Governor DeWine’s version. Despite the effort of at least one lawmaker, OBL was able to head off an amendment that would have allowed credit unions to hold public deposits. Though the over 2,000-page bill is still being reviewed, nothing negative for the industry has been found after a first glance. For more information on what is in the bill, click here.
04/14/21
OBL works to pass priority legislation designed to level the playing field between banks and the farm credit system.
04/07/21
The Federal Reserve will remain committed to its program of asset purchases and accommodative policy in light of a struggling labor market and inflation well below its two percent target, according to minutes from the latest Federal Open Market Committee meeting, published today.
04/07/21
The Consumer Financial Protection Bureau this week proposed a set of rule changes intended to prevent foreclosures as emergency federal foreclosure protections expire this summer.
04/07/21
The Cybersecurity and Infrastructure Security Agency has issued new guidance detailing steps businesses and other entities can take to mitigate new vulnerabilities with Microsoft's Exchange product.
04/07/21
The Ohio Bankers League was asked for feedback and participated in an interested party meeting with Lieutenant Governor Jon Husted and others from the Administration’s Cyber Ohio and Innovate Ohio teams in regards to draft data privacy legislation titled the Ohio Privacy Protection Act. Based on OBL member feedback, changes are already being made to the bill to protect the industry from overregulation.
03/31/21
The Consumer Financial Protection Bureau today announced it is rescinding seven policy statements issued last year that provided financial institutions temporary flexibilities surrounding mortgages, credit reporting, credit cards and prepaid cards.
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