Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OBA updating member database: needs help from banks!
- Hints can help customers understand they are affected by fraud
- ATM scams on uptick in Oklahoma
- CFPB updates small business lending rule filing instructions
- OBA Washington Visit nearing – hotel reservation deadline approaching!
- 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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It’s exciting to see our parking lot full here at the Association the past couple of days! The 2024 OBA Compliance School started on Monday, and it, essentially, marks the beginning of in-person educational events following a summer lull. We love seeing our bankers on site, and we’ll see even more as the week progresses as we have our first meeting of the 2024-25 OBA Board of Directors on Thursday.
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Speaking of our board meeting, as I mentioned, Thursday will be the first of the ’24-’25 board. We’re looking forward to the newest members joining us, as well as the return of previous board members. Take a chance to peruse our new board member slate if you haven’t yet, and never hesitate to drop ANY of us a line if you have any questions or concerns!
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The Democratic National Convention started on Monday. The election grows nearer and nearer!
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College football returns this weekend! Well, kinda. Still, one good game is better than none!
OBA updating member database: needs help from banks!
The OBA is about to undergo a strategic initiative to update our database.
In the upcoming few days, we will send an email to each OBA-member bank’s primary contact and their HR personnel. The email will contain a spreadsheet that includes all individuals we show as affiliated with their bank, at all locations.
WHAT WE NEED: Please, have someone at your bank either update the spreadsheet and return to us, or simply export the information from the bank’s HR software and send it to us … whatever is EASIEST for YOU.
The spreadsheet will include employee’s first and last name, location where they work, title, cell phone and email. It also includes “areas of interest,” which tells us what mailings (electronic and physical) they would like to receive.
All are welcome to email (leaann@oba.com or sheila@oba.com) or call with questions.
Hints can help customers understand they are affected by fraud
Having a hard time convincing a customer they are being scammed? The OBA’s resident fraud expert, Sharon Lewis, has a few suggestions that might be helpful:
- Give your customer the AARP Fraud Watch Network Helpline number: 877-908-3360. This number is answered 7 a.m. to 7 p.m. Monday through Friday by fraud specialists who provide free support and guidance to anyone.
- Ask them to sit with you long enough to watch a scam victim’s story. Options include Video: Romance Scam Survivor Now Works to Protect Others (35 seconds), Joy and Leanna’s Story-it started with Publishers Clearing House (1:23-2:07 44 minutes), Romance scam victim speaks out on “psychological manipulation” that cost her $2.5 million (4 minutes, 51 seconds), or this CNN story Killed by a Scam about a father who took his life after losing his savings to a pig-butchering scam.
Also, just a thought: If you haven’t watched the 2024 movie “The Beekeeper,” consider putting it on your watch list. In it, a kind-hearted landlady commits suicide after falling victim to a computer scam, leading her tenant, former operative Adam Clay (Jason Statham), to set out on a brutal campaign. Keep in mind it IS a Jason Statham film and, thus, is rated R.
ATM scams on uptick in Oklahoma
Speaking of scams and frauds: Malware jackpotting occurs when malware is introduced to the ATM hard drive, usually using a portable device.
The malware then issues dispense commands to the ATM using the existing ATM computer and ATM dispenser connection, which results in the ATM dispensing cash. Please refer to the story in the June 3 edition of OBA Update where we alerted members to jackpotting attacks on ATMs in Oklahoma.
Since the two attempted attacks in June in Alex and Chickasha, there have been three other attacks in the Oklahoma City area. The latest two taking place on August 18. Loss to one machine is estimated at $80,000. For additional loss mitigation suggestions, download this alert from the U.S. Secret Service.
The Oklahoma City Police Department/U.S. Secret Service Financial and Electronic Crimes Task Force issued CrimeDex alert 353728 on Monday night with images from these latest attacks. Jackpotting alerts have also been issued from Georgia, Louisiana, Minnesota, North Dakota, Ohio, South Carolina and South Dakota. These attacks will only increase in frequency. CrimeDex is a nationwide alert system and we also have our own OK MAFIA group to share information between members in Oklahoma. The OBA encourages membership in this system for sharing frauds and crimes involving our industry.
CFPB updates small business lending rule filing instructions
The Consumer Financial Protection Bureau last week issued the 2025 Small Business Lending Filing Instructions Guide, which updates the compliance dates used in the filing instructions.
The guide contains an overview of the rule, instructions for what to enter into each data field, and a summary of resources available from the CFPB to assist with small business lending rule-related inquiries.
OBA Washington Visit nearing – hotel reservation deadline approaching!
The OBA’s Annual Washington Visit has been scheduled for Sept. 22-24 and the hotel will be The Mayflower Hotel.
Click here to view the brochure. If you have any questions, contact Megan McGuire at the OBA. Take note: the deadline for room reservations at The Mayflower is Sept. 6!
We are still finalizing the detailed schedule but we historically meet with the following: ABA, Federal Reserve, FinCEN, Consumer Financial Protection Bureau, FDIC, OCC, Treasury and the Oklahoma delegation.
Login to register online or submit the registration form available in the brochure.
We had 100 Oklahomans in D.C. in 2023, and we are aiming for even more in 2024!
OBA education corner …
Whatever happened to concept albums? While spinning Willie Nelson’s 1975 classic, Red Headed Stranger, we got curious about the disappearance of these story-telling musical numbers. Besides Willie’s classic about a preacher who faces trials of adultery, murder and eventual redemption, the 1960s and 70s were replete with such musical endeavors: Sgt. Pepper’s Lonely Hearts Club Band, The Rise and Fall of Ziggy Stardust and the Spiders From Mars, The Wall, What’s Going On, Tommy, the list goes on and on. The last concept album that pops into our minds is Green Day’s American Idiot, and that was 20-years ago. While shrugging your shoulders at all this babbling and downloading another single off Apple Music, check out some upcoming continuing education opportunities available from the OBA!
- 2024 Forvis Mazars/OBA Banking Symposium, Aug. 27, Oklahoma City — This symposium will provide C-suite leaders with the economic, risk and accounting updates needed to effectively manage their financial institution.
- Deposit Regulation Training for Customer Service Representatives, Aug. 27, webinar — Is your front line a compliance asset or liability? This session will make them a compliance asset!
- TRID Hot Spots, Aug. 28, webinar — This webinar will look at hot spot areas related to TRID. Learn what examiners are citing as well as other common errors in plain English.
- Best-Ever Compliance Checklists for Consumer Loans, Aug. 28, webinar — This webinar will guide lenders and processors through easy-to-use checklists that will clarify and simplify the compliance requirements for consumer loans.
- Reg. O and W: Dealing With Insiders, Aug. 29, webinar — This webinar will detail the many requirements of Regs O and W and provide tips to assure effective compliance management practices. We’ll talk about who the insiders and affiliates are and how to manage the many requirements.
- BSA/AML: Crypto and Virtual Currency, Sept. 4, webinar — Crypto and other virtual currencies are becoming more and more common. Understanding the risks involved and the regulatory expectations are an essential piece of your overall BSA/AML compliance program.
- Navigating the Rules and Regulations of Fraud & Risk in FedNow and RTP, Sept. 4, webinar — Discover what is expected from the Clearing house and the Federal Reserve to minimize fraud and what tools are provided. Equip your institution with robust strategies to navigate the evolving threats in real-time and instant payment systems.
- Unclaimed Property Compliance for Financial Institutions, Sept. 6, webinar — This webinar will focus on the complex state unclaimed property reporting requirements and the unique challenges facing financial institutions.
- Total TRID Training – 4-Part Series, Sept. 10-11, 13, 17, webinar — The Truth in Lending/Real Estate Settlement Procedures Integrated Disclosures (TRID) requirements are a string of guidelines dictating what information lenders need to share with borrowers and when they must provide it.
- Posting With Confidence: Social Media Compliance, Sept. 11, webinar — Whether your promotions are digital, print, or televised, multiple compliance regulations strictly prescribe what can be said, the elements that should be included and how they should be displayed.
- 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.