Week of April 22

In This Issue…

• From Adrian’s desk …
• Bankers associations urge Congress for independent review of recent agency rulemakings
• Public comments being taken on FDIC evaluations of bank merger applications
• OBA education corner …

From Adrian’s desk …

By Adrian Beverage
OBA President & CEO

Just some random tidbits that might be of interest to our bankers this week!

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I’m currently in Madison, Wisconsin at the graduate school of banking here. I serve on the school’s board of trustees and we’re having a business meeting this week. It’s always nice to visit the upper Midwest and also take advantage of all that Wisconsin has to offer!

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I read a report via the Federal Reserve last week that essentially states the U.S. financial system remains sound and resilient, with risk-based capital ratios well above regulatory requirements. It’s no surprise to me as I visit with our community bankers nearly every day and I can see first hand how they are the backbone of the nation’s financial system.

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We’re only three weeks out from the OBA convention! Have you registered yet?

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The Cornhuskers’ baseball team got back on the winning track last weekend, taking two of three from Maryland. It moves them into second place in the conference behind Illinois with still a full month of games to play. The softball team, meanwhile, ran into a snakepit in Michigan, getting swept in a series in Ann Arbor. Still, despite losing one of the best players in the country in the first game of the season, the Cornhuskers are still 25-19 overall and in line for an NCAA tournament berth.

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Bankers associations urge Congress for independent review of recent agency rulemakings

The OBA, alongside the American Bankers Association and the 51 other state bankers associations, urged leaders of the U.S. House and Senate in a joint letter Monday to set an independent review of recent banking agency rulemakings to assess their appropriateness in addressing risks within the banking sector.

Congressional investigations into the causes of last year’s banking crisis remain incomplete, specifically regarding the appropriateness of the regulators’ post-failure actions and rulemakings, the associations said. The associations noted that Sens. Jon Tester (D-Mont.) and Thom Tillis (R-N.C.) have called for an independent review, as has Federal Reserve Governor Michelle Bowman.

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Public comments accepted on FDIC evaluations of bank merger applications

The FDIC is accepting public comment on its proposal to change how the agency will evaluate bank merger applications.

Among other things, the proposal would broaden the number of competitive factors the FDIC will take into consideration when deciding whether to approve or deny applications. The agency would also require a “thorough accounting” of the potential effects on communities, including possible branch closures or relocations.

The FDIC board voted 3-2 in March to pursue the proposed revisions. ABA has raised concerns about the proposal, saying it could introduce more unpredictably and delays in the merger approval process. Comments on the proposal are due June 18 and will be made public on the FDIC website.

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There’s a was a big album release late last week! I’m sure you heard about it! No, not that one. This one! It always feels like 1991 when PJ puts out a new album! While trying to figure out what Eddie Vedder is growling, take a little time to check out our upcoming continuing education opportunities!

• Understanding and Using the Medallion Signature Guarantee Accurately, April 29, webinar — A medallion signature guarantee is a convenient stamp used when you transfer securities. But, this one little stamp represents important warranties made by your bank, and if not used properly can lead to significant losses.
• W-9s, W-9BENs and IRS Mismatches, April 30, webinar — This program will focus on what U.S. financial institutions must do in the tax reporting and documentation process for FATCA.
• Bi-Monthly Compliance Briefing, April 30, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
• Demystifying Trusts: Establishing Deposit Accounts and Loans, May 2, webinar — This webinar will provide attendees with information on doing business with trusts, including best practices in establishing deposit account and loan relationships.
• Call Report For Beginners – 5-Part Series, May 3, 10, 17, 23, 30, webinar — This webinar series will primarily follow the structure of the Call Report, progressing through the schedules in order.
• Commercial Lending Program, May 6, 14, webinar — This program consists of 10 online self-paced courses and two webinars. The webinars will cover real lending scenarios, and participants will enter virtual breakout rooms for interactive small-group discussions.
• Wire Transfers: Meeting Requirements, Implementing Best Practices and Avoiding Losses, May 7, webinar — Funds transfer fraud causes millions of dollars in losses for businesses and financial institutions every year. In 2023 alone, financial institutions filed over 400,000 Suspicious Activity Reports on incidents of wire fraud and/or suspicious funds transfers.
• Third Party Management Essentials, May 8, webinar — In this webinar, you’ll learn the essential elements every program should have, and why it’s critical to embed third-party management in all lines of business.
• Consumer Real Estate Loans, May 8, webinar — Take this opportunity to expand your knowledge of current compliance rules and take your loan processing skills to the next level.
• Fair Lending, May 9, webinar — This webinar will dissect the regulatory requirements and examiner expectations related to Fair Lending in plain English.
• 2024 Appraisal & Evaluation Compliance, May 30, Oklahoma City — This seminar lays the foundation for risk management and is important to anyone involved in the appraisal and/or evaluation function at a bank, whether they are actively ordering/managing/reviewing appraisals, performing/ordering evaluations or involved in real estate lending risk management.

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