06/07/23

Senator JD Vance Introduces Durbin Amendment Expansion Bill

Today Ohio Senator JD Vance and a bipartisan group of three other Senators introduced harmful legislation to expand the failed Durbin Amendment to credit cards. 

06/07/23

OBL Attends the Ohio Chamber of Commerce State of Business Summit

OBL had the opportunity to attend the Ohio Chamber of Commerce State of Business Summit for a Fireside Chat with Bill Emerson, Vice Chairman of Rock Holdings and Interim CEO of Rocket Mortgage. Emerson discussed housing and the overall state of the business community in Ohio and its outlook. 

06/07/23

Ohio Senate Releases Their Version of the State Budget – What Made the Cut and What Will the OBL Fight for as the Legislature Heads into Conference Committee?

Yesterday afternoon, the Ohio Senate released their version of the State Operating Budget. OBL continues to advocate on behalf of the industry on numerous key issues ranging from housing to automotive lending as the House and Senate come together in Conference Committee to finalize.

06/07/23

CFPB publishes enforcement guide for Small Business Data Rule

Today the CFPB published guidance on how the agency plans to enforce its final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses. 

06/07/23

OBL pushes back on harmful IRS Captive Rule

The OBL submitted official comment on proposed regulation that would all but eliminate bank ability to run a captive insurance company. 

05/31/23

Debt Ceiling Debate Likely To Come Down To The Wire

Today the US House of Representatives is poised to vote on legislation to increase the United States treasury debt limit. Today's action was set up a series of votes and debates that will likely bleed into the weekend before the June 5th date of potential default.

05/31/23

Fed Governor Bowman Says Banks Should be Ready to Handle Stress

Federal Reserve Gov. Michelle Bowman called on banks to bolster their liquidity plans for dealing with unexpected stress.

05/24/23

New Development on Ohio’s Vehicle Title Process Concerns

The OBL, along with a coalition of partners, penned a letter this week to the Member of the General Assembly urging them to repeal Section 4505.131 of the Ohio Revised Code and allow for more time to study the issues regarding converting electronic vehicle titles to physical titles. Read more here. 

05/24/23

Senate Bill 94 Aims to Modernize and Enhance Accessibility through Electronic Recording

Senators Andrew Brenner (R-Delaware) and Al Landis (R-Dover) have introduced Senate Bill 94 (SB 94), a reintroduction of HB 237, to modernize the recording process in Ohio. The bill mandates electronic recording and remote accessibility, streamlining processes, and improving efficiency. The OBL and other organizations have formed a coalition to support the bill's passage and ensure the openness and sustainability of the county recorder system.

05/24/23

Ohio State Senators Call on President Biden to Reconsider FHFA's Loan-Level Price Adjustments

Senators Andrew Brenner (R-Delaware) and Steve Wilson (R-Maineville) have taken a stand against the recent changes made to the Federal Housing Finance Agency's (FHFA) loan-level price adjustments (LLPAs) by introducing Senate Resolution 115. The potential ramifications of increased fees and higher mortgage interest rates have raised concerns about the stability and certainty of the real estate industry in Ohio. To rally support for the cause, the OBL has organized a coalition of interested parties who submitted a letter of support for the resolution.