Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- CFPB director argues for deposit insurance reform in wake of Lindsay bank failure
- Treasury Check Verification Systems gains new validation capability
- Treasurer’s office relaunches AGLink program
- Oklahoma Bankers Hall of Fame class set for induction
- 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 in California right now attending an ABA-led conference. I always enjoy these types of get-togethers as it’s an opportunity to see how my peers are doing across the country.
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It’s not too often banks and credit union can agree and work toward a mutual goal, but it happened on Monday. The ABA, along with seven other bank AND credit union associations, joined in a letter to the Senate to explain how legislative initiatives to expand the power of the federal government to intervene in the U.S. credit card market would harm small businesses and consumers across the country.
Let’s hope something positive comes from the collaboration!
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OK, here’s a statistic for you: Over the past two years, Nebraska football has lost its last EIGHT games after it has reached five wins and just needed one more for bowl eligibility. In simpler terms, my Cornhuskers have whiffed eight-straight times when they have had a chance to clinch a bowl berth. That’s impressive. I mean, like Ron Burgundy said when his dog ate a wheel of cheese and pooped in the fridge, I’m not even mad because it’s truly amazing!
CFPB director argues for deposit insurance reform in wake of Lindsay bank failure
Rohit Chopra, director of the Consumer Financial Protection Bureau, released a statement on Monday encouraging Congress to look over the current deposit insurance rules, particularly in light of the recent failure of the First National Bank of Lindsay.
“It is time for Congress to remove – or at least dramatically increase – limits on federal deposit insurance for payroll and other non-interest bearing operating accounts,” Chopra said in the statement.
Treasury Check Verification System gains new validation capability
The Treasury Department’s Bureau of the Fiscal Service implemented a new payee name validation capability within its Treasury Check Verification System application programming interface on Monday, according to a notice from the bureau.
The change comes roughly a year after regulators tightened liability standards for Treasury check returns.
TCVS is a tool that assists financial institutions with Treasury check verification. It is available through a secure application programming interface and a public-facing website. Payee name access will be available only through the interface and not the website, according to the bureau.
Treasurer’s office relaunches AGLink program
The Office of the Oklahoma State Treasurer announced the relaunch of the Agricultural Linked Deposit Program, an initiative designed to support Oklahoma’s farmers, ranchers and agricultural businesses.
The program, which launched on Nov. 1, will provide financial assistance to at-risk farms and alternative agricultural ventures.
Through the Agricultural Linked Deposit Program, eligible agricultural businesses can access lower-interest loans to sustain and expand their operations. This program serves as a resource to Oklahoma’s agricultural community, addressing their need for accessible financing. Reducing financial barriers can help Oklahoma’s agricultural producers thrive and contribute to the state’s economy.
Qualified applicants include Oklahoma-based farms and businesses producing, processing, or marketing agricultural products, with specific provisions for at-risk farms and alternative agricultural products. Loans through this program can be used for business operations, refinancing, or expanding production.
For more information or to apply, visit the Oklahoma State Treasurer’s website or contact the Linked Deposit Loan Program at (405) 522-9465.
Oklahoma Bankers Hall of Fame class set for induction
The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 5 in Oklahoma City.
The Oklahoma Bankers Hall of Fame Luncheon & Induction Ceremony honoring the late Guy Berry III, Herschel Brewster, Brad Krieger and Gregg Vandaveer will recognize the sixth group to be inducted into the Hall of Fame, as voted on by a panel of their banking industry peers.
The ceremony will be held over lunch at 11:30 a.m. on Dec. 5 at the Oklahoma History Center, which is located at 800 Nazih Zuhdi Dr., in Oklahoma City.
If you are interested in attending the event, please RSVP by Nov. 30 to the OBA’s Joan Anderson (joan@oba.com) at 405-424-5252. The cost for an individual seat is $75 and $700 for a table of 10.
Additionally, contact Thi Pham (405-424-5252, thi@oba.com) for sponsorship opportunities.
OBA education corner …
Is there really just two weeks left in the college football regular season?! Didn’t it just start? Of course, with many of us here being OU and OSU fans, it sometimes seems like the season opener for each was a few decades ago. Whichever way you feel about the season, it’s sad there are far fewer college football Saturdays ahead of us than behind. While looking wistfully at the 2025 schedule, take a second to also gander at the schedule of upcoming continuing education opportunities for you and your staff!
- Understanding the Role of the Notary Public, Nov. 26, webinar — In this webinar, you’ll learn about Notary Public responsibilities and notarial acts, basic laws and liability.
- Compliance Issues on Digital Banking: Online Account Opening, Mobile Deposits, P2P and Online Accounts Services, Dec. 3, webinar — What do you need to know and do to be in compliance with Customer Identification Program (CIP), Customer Due Diligence (CDD), identity theft programs, disclosures, E-Sign and many other issues?
- 2024 Performing Commercial Evaluations, Dec. 4, Oklahoma City — Tailored specifically for internal bank members responsible for reviewing or conducting commercial evaluations, this course provides a robust framework for mastering the intricacies of property evaluation.
- Controlling the Risks of Power of Attorney Documents, Dec. 5, webinar — This session will equip you with the knowledge and insights to navigate even the most challenging situations with ease.
- Oil and Gas Lending, Dec. 5, webinar — The energy sector is strong again and so is the market for oil and gas lenders.
- The State of UDAAP: Where Are We Now?, Dec. 6, webinar — In this webinar we’ll discuss understanding what examiners are focusing on, including areas where a clear rule or regulation might not even apply.
Finally, just a quick note to mark your calendars as the OBA Convention and OBA Senior Management dates and location have already been set for next year! The 2025 OBA Convention will be held May 12-14, back at the Skirvin Hilton in Oklahoma City. Meanwhile, the 2025 OBA Senior Management Conference will be held on April 6-8 at the Renaissance Esmeralda Resort and Spa in Indian Wells, California. More details will be available in the coming months, but go ahead and get those notes on your calendar today!