The Ohio Bankers League, Community Bankers Association of Ohio, and the Ohio Credit Union League pushed the members of the Ohio Congressional Delegation to pass a resolution to stop the implementation of Section 1071 of Dodd Frank.
Ohio will have two freshmen Congressional Delegates in the near future as both Rep. Brad Wenstrup (OH-1) and Rep. Bill Johnson (OH-6) will not seek reelection in 2024.
With the rise of Central Bank Digital Currency, several states across the nation, including Ohio, have introduced legislation that would exclude CBDCs from being treated as money. OBL shares similar concerns with bill sponsors, but with some distinction.
In the Biennial Budget, the Ohio Legislature passed language creating the Homebuyer Savings Account Linked Deposit Program. OBL and its members have been working with the Treasurer’s office to understand the mechanics of the program to be ready for its 2024 rollout. Join an informational webinar on December 7th to learn more.
The Statewide Ballot Issue 2 passed by approximately 57% last week legalizing recreational adult use cannabis. There is still a long road before the program will be fully operational.
This week, the Ohio House Financial Institutions Committee heard testimony on legislation purported to prohibit the use of environmental, social, and governance (ESG) factors in the industry. However, this legislation goes far beyond the stated intent to subject every bank decision to scrutiny, politicization, and potential legal liability. OBL is actively engaged on the issue and explaining the problems this type of legislation could cause.
Federal Reserve Board Governor, Miki Bowman addressed the crowd on the record at the OBL Main Event. Click here to read the full transcript of her remarks.
Federal Reserve Governor Michelle "Miki" Bowman state at the OBL event on Tuesday that the U.S. central bank will likely need to raise short-term interest rates again, though for now she is content to assess the data and what it implies for the future of the economy.
The Federal Housing Finance Agency yesterday issued its long-expected report on the comprehensive review of the Federal Home Loan Banks, culminating a process that began last year in conjunction with the 100th anniversary of the FHLB system.
A Texas court last week expanded a preliminary injunction on enforcement of the CFPB’s Section 1071 small business data collection rule to include all financial institutions covered by the rule.