After outcry, feds back down; banks can display crosses

PERKINS, Okla. (KOCO.com) - The small-town bank in Oklahoma will be able to restore its Christian signs and symbols after all, thanks in part to public outcry against the Federal Reserve.

The president of Payne County Bank, Lynn Kinder, said he spoke with the second in command at the Federal Reserve late Thursday evening. Both sides agreed to work out the issue.

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Oklahoma bank "Scrooged" by the feds

PERKINS, Okla. (KOCO.com) - A small-town bank in Oklahoma said the Federal Reserve won't let it keep religious signs and symbols on display.

Federal Reserve examiners come every four years to make sure banks are complying with a long list of regulations. The examiners came to Perkins last week. And the team from Kansas City deemed a Bible verse of the day, crosses on the teller's counter and buttons that say "Merry Christmas, God With Us." were inappropriate. The Bible verse of the day on the bank's Internet site also had to be taken down.

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Ron Paul reacts to the "Audit the Fed" vote in the Senate

Full Fed audit amendment voted down in Senate

The following press release was sent out by Campaign for Liberty:

Today, the U.S. Senate voted 62 to 37 against an amendment to allow greater transparency at the Federal Reserve.

This amendment was introduced to counter a weaker amendment that would have required only a one time audit just of Fed emergency programs. The new amendment was similar to the original H.R. 1207 audit bill introduced by Congressman Ron Paul and added to the House financial reform package.

"The Sanders Amendment is no substitute for a complete and thorough audit of the Fed," said John Tate, President of Campaign for Liberty. "With this vote, we now have a record of those who really want transparency and those who only pay lip-service to it while upholding the status quo."

If the entire financial regulation bill makes it out of the Senate, it heads to the House, where House Financial Services Committee Chairman Barney Frank will choose which version to move forward on.

"The Dodd bill itself is just another bad piece of legislation, which will benefit no one except the Fed and its friends at big banks," said Tate. "It institutionalizes bailouts for banks and subsidizes risky financial decisions."

"Despite what happens with the financial regulation bill, we will continue pushing Congress for an up or down vote on H.R. 1207, which is the only full audit to allow true transparency in our financial system."

Click here to see how your senator voted.