Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- Court rejects challenge to CFPB’s Section 1071 rule
- Oklahoma Bankers Hall of Fame nominations deadline this week!
- 2025 Oklahoma Views & Vistas Calendar available for earlybird order
- OBA TikTok Time …
- 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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We held our first board meeting of the 2024-25 board season on Thursday. It was good to see all our board members in person!
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Federal Reserve Chair Jerome Powell used the words we’ve all been expecting last week. OK, maybe not the EXACT verbiage, but we did all likely expect what he was attempting to convey.
Powell was referring to interest rate cuts by his organization. No word on when and how much they could be.
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The Democratic National Convention wrapped up last week and now we’re on a dead sprint toward the polls in November! Things to look forward to between now and then include (probably?) presidential and vice presidential debates.
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College football is back this week! I can hardly wait! Besides the fact my beloved Nebraska Cornhuskers remain undefeated – and here we are ALMOST in September! – but I can’t wait to see all the other games!
I’m toying with dropping the mic with the hottest of hot takes and proclaim “Nebraska stays undefeated deeper into the season than any of the Oklahoma schools.” But I wouldn’t want to say that aloud, would I?
Court rejects challenge to CFPB’s Section 1071 rule
A Federal court today denied a request for summary judgment in a lawsuit by the American Bankers Association, Texas Bankers Association and others challenging the Consumer Financial Protection Bureau’s small business data collection rule.
In his decision, Judge Randy Crane ruled the CFPB did not exceed its authority in issuing the rule, nor did it violate the Administrative Procedure Act, or APA, which governs how agencies develop regulations. ABA and TBA plan to appeal the case to the Fifth Circuit Court of Appeals.
ABA last year joined a lawsuit brought by TBA and the McAllen, Texas-based Rio Bank challenging the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act. Among other things, the plaintiffs argued that the bureau violated the APA by failing to consider and respond to industry feedback, and by failing to conduct a proper cost-benefit analysis of the rule.
Crane rejected those arguments in his decision. Regardless of “however ineffective or counterproductive the substance of the Final Rule may be,” he wrote, the “administrative record is voluminous and its breakdown of the bureau’s decision-making is comprehensive.”
Oklahoma Bankers Hall of Fame nominations deadline this week
The Oklahoma Bankers Hall of Fame is now accepting nominations for the upcoming 2024 class, with the final day being Saturday, Aug. 31; 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.
2025 Oklahoma Views & Vistas Calendar available for earlybird order
The 2025 Oklahoma Views & Vista Calendar is now ready to be purchased – order yours by Aug. 31 to get the special low price of just $1.10 per calendar. Pricing after Aug. 31 is $1.25 per calendar. Final deadline to purchase is Sept. 15.
This is a great way to share your bank’s logo and information to your customers! Click here for more information and an order form.
OBA TikTok Time …
Welcome to the continuation of our semi-regular feature in the OBA Update: OBA TikTok Time!
The OBA created a TikTok account to feature fun, entertaining little video segments that feature our bankers and those who work with them. No, you don’t have to have a TikTok account to view these short videos as you can navigate directly there just by using the link we provide here in the OBA Update. For those concerned about security via TikTok, you can also easily view the videos through our Instagram account.
We’ll feature our most recent TikToks each week in the TikTok Time of the OBA Update. For this week’s edition, the OBA recently held its first board meeting of the 2024-25 board season! Speaking of seasons, football season is bearing down on us, so with that in mind, we stopped a few board members and asked them what their favorite college and high school football teams are!
OBA education corner …
The big music news that dropped this weekend is the seminal BritPop band of the ’90s, Oasis, is getting back together! Somehow, brothers Liam and Noel Gallagher managed to patch up their differences – or at least put a bandage on them for now – long enough to go on tour together to celebrate the 20th anniversary of their wonderful album, (What’s The Story) Morning Glory? While this might mean we’ll miss out on incredible insults between the two, like Noel’s infamous shutdown of his brother: “He’s like a man with a fork, in a world of soup,” it does mean we get to hear Wonderwall live at least one more time. I’d suggest getting tickets to one of their first few shows – who knows how long the peace will last. While trying to decipher the indecipherable (by design) lyrics of Oasis, check out some upcoming continuing education opportunities available from the OBA!
- 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 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.
- Real Estate Lending Compliance Seminar, Sept. 24-25, Oklahoma City — The program provides an overview of the real estate lending requirements from 10 regulations, along with comprehensive coverage of selected topics, policy suggestions, employee training tips, audit techniques and steps to eliminate past problems.
Also, scholarships are now available for the upcoming Bank Trainers Conference and Expo, set for Oct. 9-11 in St. Louis, Missouri.
Are you a bank training professional feeling the pinch of tight budgets? The Bank Trainers Conference and Expo is committed to fostering professional growth in our community. To help in fees for this conference, there is a scholarship open to training professionals employed at banks who demonstrate a commitment to enhancing their skills and contributing to the industry.
How to apply:
- Fill out the scholarship application form https://forms.office.com/r/TK6yQhud9p
- Submit your application by Sept. 15.