The turnpike authority will now seek reapproval from the Oklahoma Council of Bond Oversight before it can head to the municipal bond market.

"We believe that the most effective project delivery happens before your project even begins," said DOT Volpe Center Director Anne Aylward.

Cincinnati-based Fifth Third Securities is the seventh firm charged by the Commission for failing to comply with the appropriate disclosures in connection with the limited offering exemption.

The group of banks would pay $68 million to settle the lawsuit, which originally estimated damages at $340 million.

The plaintiff that brought the case on behalf of the state says the banks inflated interest rates through a private, invitation-only VRDO index that influenced SIFMA's weekly index.

Through proposed SEC regulations, federal grants and cybersecurity insurance, areas of the public finance industry are adjusting to costly and omnipresent cyber threats. 

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

The measure would have prevented state and local public entities from requiring a company to implement an ESG policy to get a government contract.

Molloy will be leaving the banking giant for the nonprofit sector. Dan Tomson and Paul Creedon, co-heads of public finance, will be taking over his responsibilities.

From the battlefield to the boardroom, military veterans are making their mark in the financial services industry today. Hear their stories in this special podcast featuring Academy Securities, AmeriVet Securities, Bancroft Capital, Drexel Hamilton, Mischler Financial Group and Roberts & Ryan. Chip Barnett hosts. (45 minutes)