"Oklahoma banks are working through a number of influences on the State's economy as they continue to serve Oklahomans and their communities," said OBA Chairman Don Abernathy.
"The economic impact of HB 1804 is just one of them.
Abernathy is President & CEO of The Bankers Bank in Oklahoma City.
The housing collapse, the sub-prime mortgage meltdown and the resulting credit crunch have collectively had an impact on the nation's financial system as a whole.
In addition, Oklahoma banks are also dealing with economic realities that have come about as a result of the passage of the bill.
"Just last week the Federal Reserve System came to the rescue of Bear Stearns, and that added to the concerns of consumers everywhere," Abernathy
"In spite of these challenges, Oklahoma banks remain among the strongest and best-performing banks in the nation."
noted that as a general rule, the OBA
does not get involved in non-banking matters.
The Association did not take a position on HB 1804 during its consideration by the Legislature in 2007 and does not take a position now.
do have concerns about unintended consequences that have come about as a result of (the bill)," he
"That's the reason we decided to commission this study, to better understand the facts and get a better handle on the costs to the State's economy and to bank customers.
"Reasonable people disagree about whether the social policy embodied in HB 1804 - to reduce the economic burden on the State and its citizens by encouraging the out-migration of undocumented or 'illegal' workers - is a good thing or a bad thing for the State," he