Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OBA co-sponsors upcoming financial crimes forum
- FinCEN issues guidance to bank customers on reporting rules
- Oklahoma Bankers Hall of Fame accepting nominations for 2024
- Earlybird registration deadline looming for ABA convention
- 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 started vacation today! As you read this, I’m in the process of taking my family down to Playa del Carmen, on the Yucatan Peninsula in Mexico! It’ll be my first experience with an all-inclusive resort and I’m much looking forward to it!
Of course, to get to Playa del Carmen, we have to first fly to Chicago … because that makes sense. Hello, three-plus hour plane ride from Chicago to Mexico!
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I read a really interesting story in the ABA Banking Journal on Monday. It talked about how, despite the well-known decrease in brick-and-mortar bank branches in the country, there are some areas where branch counts have remained steady, and are even increasing. One of those mentioned was Oklahoma City.
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Our communications director, Jeremy Cowen, came into my office all hangdog the other day, bemoaning the hard luck of his beloved Atlanta Braves. He was whining about some pitcher being hurt, after another player got hurt and how the whole team is underperforming.
I chased him out of my office with a spare baseball bat I had laying about. When you’ve been a Cubs fan for as long as I have, listening to people share their woes about OTHER teams is annoying. Besides, Atlanta is still currently in the playoff race … my Cubbies have been left on the side of the road.
OBA co-sponsors upcoming financial crimes forum
The OBA will be one of the sponsors for the 2024 SW BSA & Financial Crimes Forum produced by the OK-AR Chapter of the International Association of Financial Crimes Investigators.
The full agenda, registration and hotel links are available on the IAFCI website. This event is produced in partnership with the FBI, IRS Criminal Investigations, U.S. Postal Inspection Service and the U.S. Secret Service.
FinCEN issues guidance to bank customers on reporting rules
The Financial Crimes Enforcement Network last week issued a notice to financial institution customers about the new beneficial ownership information reporting rule requirements, explaining why certain customers must report directly to the agency in addition to giving information to their banks, which are subject to the customer due diligence rule.
The notice also explains differences between the reporting rule, which applies to approximately 33 million small businesses, and the CDD rule, which applies to banks and other FIs.
Oklahoma Bankers Hall of Fame accepting nominations for 2024
The Oklahoma Bankers Hall of Fame is now accepting nominations for the upcoming 2024 class; additionally, a reminder the process of selecting inductees was updated for last year.
First, for those interested in nominating a banker, here are some downloadable forms linked below – please return all nominations to Adrian Beverage (adrian@oba.com):
If a person was nominated previously, it is not necessary to re-nominate them – they will remain in consideration. Updates to their bio, letters of recommendation, etc., however, are always welcomed.
Second, as mentioned, a new process for selecting the inductees to each class was instituted in 2023. After discussion with leadership at the Oklahoma Hall of Fame about its processes, and learning about other methods from other organizations, the induction procedure for the Oklahoma Bankers Hall of Fame has been updated.
After all nominations have been received by OBA President and CEO Adrian Beverage, he will forward those nominees to the OBA chair (currently, Alicia Wade), who will convene a committee of 11 individuals in September to select the inductees. These 11 individuals will be made up of the OBA’s Executive Committee, who will join a banker selected by the OBA chair from each of the OBA’s six geographical groups, as well as the chair of the OBA Emerging Leaders Division. The specific committee members will be completely anonymous to everyone outside of the current OBA chair.
These committee members will select the final inductees from the group of nominees given. They will also discuss any possible posthumous inductees who may have not been nominated.
Once the inductees have been selected, the OBA chair will inform Beverage and notification and preparations will be made by the OBA staff for the induction ceremony, which will be held this year in December at the Oklahoma History Center in Oklahoma City.
Following the 2024 selections, the current selection committee will immediately disband and a new committee will be picked the following year by the next OBA chair. Aside from the OBA chair and executive committee, the selection committee will remain anonymous with only the other committee members from that specific year knowing their identities.
Earlybird registration deadline looming for ABA convention
The American Bankers Association’s Annual Convention is set for Oct. 27-29 in New York City, and while registration is open for several more weeks, the opportunity to save money with earlybird pricing is ending after Wednesday.
Don’t miss your chance to secure this special rate for you and your entire C-suite. Explore industry innovation and high-level strategies, engage in essential networking opportunities and discover ways to charge your bank’s success.
OBA education corner …
Did you know July 2024 is exactly 30 years since the release of Hootie & the Blowfish’s debut album, Cracked Rear View? With more than 10 million copies sold, the album is one of the best sellers of all time … and for good reason. With major hits like Hold My Hand and Let Her Cry, doubled with awesome deep cuts like Hannah Jane and Running from an Angel, it’s one of the rare albums where every song is good!
So, take a second to figure out what why Michael Stipe is namechecked within the album, and then throw it on while contemplating some upcoming continuing education opportunities available from the OBA!
- Community Reinvestment Act (CRA) Deep Dive – All Day Streaming, Aug. 6, webinar — This all-day streaming session will go over the details of the new CRA and point out important differences between it and current requirements.
- Advertising Compliance, Aug. 7, webinar — Advertising presents a unique challenge when it comes to regulatory compliance due to the fact that you often have to deal with many different regulations at one time.
- Risks (and Rewards) of Artificial Intelligence in Banking, Aug. 9, webinar — In this webinar we’ll discuss the concerns and risks of AI, so that you can properly monitor and establish controls for these technologies and best manage regulatory expectations as you succeed.
- The Right of Setoff: What Bankers Need to Know, Aug. 14, webinar — The right of setoff is a complicated, but effective, tool for collecting debts owed to a financial institution. Learn the best practices and dangers that can arise when using this process.
- 2024 New Accounts Documentation and Compliance, Aug. 14-Tulsa; Aug. 15-Oklahoma City — This full-day program is one of the country’s most comprehensive seminars on opening deposit accounts. The session answers many of the complicated questions customers and employees ask.
- 2024 OBA Compliance School, Aug. 19-23, Oklahoma City — Students will return to their banks equipped to deal with compliance regulations that impact lending practices and deposit functions as well as other related federal and state laws and regulations.
- 2024 Supervisor Bootcamp, Sept. 4-Tulsa; Sept. 5-Oklahoma City — This training will help take your expertise to a new level as you learn how to collaborate and coach your employees to excel on the job.
- 2024 OBA Basic Banking School, Sept. 16-19, Oklahoma City — The school is designed to introduce students to basic banking concepts as they relate to the overall functioning of a bank. This school is designed to address the educational needs of new bank employees, management trainees, employees with limited or specialized banking experience and soon-to-be-promoted employees.
- 2024 OBA Consumer Lending School, Oct. 7-11, Oklahoma City — The program exposes students to major issues consumer credit managers face. It provides a framework for examining a bank’s consumer credit programs, policies and procedures.
Additionally, there are several schools that take place during the second half of the year, including Consumer Lending, Basic Banking and Operations. Get on the list for registration info on these schools as soon as it’s released!