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CFPB cites role of OBA, banks in helping to prevent elder fraud

August 30, 2016

A report released last week by the Consumer Financial Protection Bureau noted your Oklahoma Bankers Association has helped lead the way in a collaborative effort to prevent elder fraud. In doing so, the report also recognized the important role banks play in protecting seniors from financial fraud.  

The OBA's Elaine Dodd has pioneered the development of coordinated local efforts to prevent, detect and respond to elder financial abuse. One such local group – the Metro Area Fraud Investigators Association or MAFIA – is very active here in Oklahoma City and other areas of the state.

According to the report, the most common form of elder abuse is financial exploitation. It also noted only a small fraction of these kinds of incidents are reported. Estimated losses from elder financial abuse range from $2.9 billion to $36.5 billion each year.


Have you checked out OBA's 20 Questions webcasts?

For our 10th year of doing OBA Video Webcasts, we've turned the format on its ear! This year, we have webcasts that feature bankers and those who work in the industry answering 20 random questions ranging from informational, to entertaining to downright bizarre!

So, if you're curious on insight on several individuals ranging from what it was like being the first woman to chair the Association's board of directors to if one of them can say the alphabet backward, this is your one-stop shop with these short videos!

You can see the videos by clicking here!

OBA's Annual Washington Visit scheduled

The OBA's Annual Washington Visit has been scheduled for Sept. 11-13 and the hotel will be the Mayflower. Registration information should be hitting your bank shortly, but you can also download the registration and information form, and get more info on the hotel, by clicking here.

If you have any questions, contact Adrian Beverage at the OBA.

OBA president to Congress: Over-regulation harms small banks, communities

Excessive regulation is making it more difficult for the nation's community banks to aid their customers, particularly in small, rural communities, according to testimony on Thursday from the Oklahoma Bankers Association's president and CEO to the U.S. House Small Business Subcommittee on Economic Growth, Tax and Capital Access.

OBA President and CEO Roger Beverage told the subcommittee a community bank is much more than simply a bank to residents of small and rural communities and the excessive regulations currently being placed on the industry, particularly from the Dodd-Frank Act, are forcing these community banks to merge with larger ones or simple shutter their doors.

Click here to read more!


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