Week of Nov. 18

In This Issue…

• Bankers asked to contact lawmakers in support of Farm Credit Fairness Bill
• Oklahoma Bankers Hall of Fame ceremony set for Dec. 5
• Webinar upcoming on state’s new Mobile ID Program
• OBA education corner …
  

Bankers asked to contact lawmakers in support of Farm Credit Fairness Bill

As virtually most bankers in the Heartland know all too well, financing the business of food production is getting more and more difficult. Net farm income has steadily declined since 2013 and, as a result, many farmers and ranchers are struggling to keep, find or obtain access to credit.

A bill has been introduced by Sen. Pat Roberts (R-Kan.) that creates a new tax exemption for community banks giving them more room to renegotiate any loans that might help struggling farmers and ranchers. The bill is entitled the Enhancing Credit Opportunities in Rural America Act S. 1641. A companion bill has also been introduced in the House by Rep. Steve Watkins (R-Kan.) (H.R. 1872).

“The point of these two bills is to create an incentive for traditional community banks to help marginal farm borrowers either restructure their debt or obtain access to credit,” OBA President and CEO Roger Beverage said. “The incentive is to end taxation of interest earned from agricultural real estate loans. It will also enable our banks to compete more effectively with the Farm Credit System.

“When it was first introduced, it appeared as if no one was paying attention to what’s happening in rural America. Many (of you) saw the headline in the paper last week about the continuing decline of the nation’s rural economy. This bill promotes greater access to credit for rural communities and reducing costs to borrowers. It’s not the only thing we can do, but it will help.

“Moreover, the bill helps bring greater parity between our member banks and the Farm Credit System without attacking the System directly for its tax-advantaged status. We’ve been doing that and getting the same result – nothing done – for many years. I’m encouraging everyone and anyone to call, email or write to Sen. Inhofe and Sen. Lankford, in particular, to ask them to co-sponsor S. 1641.

Bankers can find some suggested language to use by going to Secure American Opportunity – https://secureamericanopportunity.com/issues/rural-credit-access/?utm_campaign=NEWSBYTES-20191113&utm_medium=email&utm_source=Eloqua – and taking advantage of the ABA’s new grassroots engagement site. It’s simple, it’s easy, it’s quick, and it helps us get the word out to decision makers that we support this idea.”

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Oklahoma Bankers Hall of Fame ceremony set for Dec. 5

The Oklahoma Bankers Hall of Fame will induct its second-ever class on Dec. 5 at the Oklahoma History Center in Oklahoma City.

John V. Anderson, with F&M Bank in Crescent; Mick Thompson, with the Oklahoma State Banking Department; Clark and Wanda Bass, with First National Bank & Trust Co., in McAlester; and Morrison Tucker, a longtime Oklahoma City banker, will comprise the second group to be inducted into the
Hall of Fame, as voted on by a panel of their banking industry peers.

If you are interested in attending the event, please RSVP by Nov. 26 to the OBA’s Nancy McKinnis at (405) 424-5252 or nancy@oba.com. The cost for an individual seat is $70 and $650 for a table of 10.

The ceremony will take place from 11:30 a.m. to 1 p.m. at the Oklahoma History Center, which is located at 800 Nazih Zuhdi Dr., in Oklahoma City.

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Webinar upcoming on state’s new Mobile ID Program

Join the Oklahoma Department of Public Safety, Innovate Oklahoma and IDEMIA for a webinar on Oklahoma’s new Mobile ID Program, featuring David Ostrowe, Oklahoma secretary of digital transformation and administration.

The webinar will take place at 2:30 p.m. Thursday, Nov. 21.

Oklahoma is one of the first states launching a digital driver’s license, and we are inviting community leaders such as our member bankers, who work in industries that transact with state IDs, to learn more about it. The half hour webinar will include training to learn more about Mobile ID, its security features, other in-state education initiatives and a Q&A.

RSVP by clicking here.

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OBA education corner …

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