Tuesday, February 4, 2025
We make bankers better!

Week of Feb. 3

February 4, 2025

In This Issue…

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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The state legislative session is underway and it promises to be an interesting few weeks ahead! Gov. Stitt laid out his priorities in his State of the State address on Monday and now the state House and Senate will get to work. I encourage everyone to pick up an issue of the upcoming February Oklahoma Banker newspaper, where I’ll have my full thoughts on Stitt’s speech, as well as a look-ahead at what the banking industry could face from this session. Additionally, we always salute those who help us make a difference at the state Capitol in the February issue when we recognize everyone who contributed to the OBA’s PAC fund during the past year.

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Former FDIC Chair Sheila Bair wrote an opinion piece in the Washington Post on Monday (subscription required) about how – especially in light of how the new Trump administration is looking to reduce the federal budget deficit – it is time to reexamine credit union tax rules that cost taxpayers billions each year.

To which, I can only say: “Amen.”

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Last week, I mentioned maybe I should perform some type of ritual to stop the Nebraska men’s basketball losing streak. Well, I actually didn’t perform any ritual, although it seems like I did: The ‘Huskers won both their games last week, both against ranked teams, to get back in the hunt for a postseason berth!

I gotta try to remember everything I did exactly last week, and try to copy it this week to keep the good mojo flowing!

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Chopra terminated as CFPB director; treasury secretary named acting director

President Trump removed Rohit Chopra as director of the Consumer Financial Protection Bureau over the weekend.

Trump on Monday announced that Treasury Secretary Scott Bessent will serve as acting director of the CFPB.

Chopra has led the CFPB since 2021, after his confirmation by the Senate. In that role, he had often taken an aggressive stance on industry regulation, with his critics arguing the bureau regularly overstepped its statutory authority. Under Chopra’s watch, the American Bankers Association has joined with other associations and businesses in suing the CFPB over overdraft fees, updates to the Unfair, Deceptive, or Abusive Acts or Practices manual and credit card late fees. Other industry groups have challenged the bureau on the implementation of the Section 1033 rule and extending its regulatory authority to payment apps and digital wallets.

Bessent was confirmed by the Senate as treasury secretary last week.  The Washington Post (subscription required), citing a staff email it obtained, said Bessent ordered CFPB staff to cease all work on crafting regulations, enforcing rules and communicating with the public, citing the need to promote consistency with the Trump administration’s goals.

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OBA, ABA to host webinar next week on credit card program

Community banks understand the importance of having a payments relationship with their customers, but many banks do not have the staff, resources or appetite for risk to profitably manage a credit card portfolio.

Recognizing the challenges community banks face in issuing and managing credit cards, the OBA and ABA have endorsed the agent credit card program of ServisFirst Bank. By partnering with ServisFirst, community banks gain a service-minded, innovative ally in credit card issuing that provides a fully transparent revenue share, detailed management reporting and a fully-branded, top-of-wallet credit card for consumer and commercial customers.

Join OBA Chair Alicia Wade, OBA Vendor Relations Thi Pham, ABA VP Partner Network Craig Driver and ServisFirst SVP Credit Cards Karen Grahn during a free webinar at 2 p.m. on Feb. 13 to learn more about this program.

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OBA Emerging Leaders book club unveiled

We’re excited to launch the OBA Emerging Leaders Book Club, a space for banking professionals to connect, learn and grow through insightful reads!

For our first selection, we’ll be diving into The Breakthrough Code by Tom McCarthy. This transformative book offers a powerful framework for unlocking your full potential, breaking through barriers and achieving extraordinary results in all areas of life.

OBA Emerging Leaders Council Chair Amy Biggs will lead the first group discussion on March 11. Whether you’ve read the book cover to cover, listened to portions on Audible or are just getting started, this brief discussion will provide valuable insights and inspiration. Come ready to share your thoughts!

To get involved, please email Joan Anderson, and she will add you to the Book Club Roster.

• Book: The Breakthrough Code by Tom McCarthy

• Date: Tuesday, March 11

• Time: 2 to 2:30 p.m. via Zoom.

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Review your bank’s info for upcoming Directory of Banks

The Oklahoma Bankers Association Directory of Banks is again being produced this year by NFR Communications. To best serve you, we want to include the most up-to-date and accurate information about your bank, your branches and your staff. However, we need your help.

To ensure we are using the most accurate information, please follow the instructions provided in the letter that was mailed to your bank earlier this month by NFR Communications. Please review and revise as necessary the financial directory listing for your holding company, your main bank and your branches. You can also use the login information that was included in the letter to update your listing online or, if needed, download a new form.

For questions and completed forms, please email directories@nfrcom.com. Please update the information no later than end of the day on Wednesday!

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OBA Bankers’ Night Out programs ready for spring

The dates for the OBA Bankers’ Night Out programs have been finalized. Mark your calendar for the date of the program that’s in your area of the state and plan to attend. Bring your coworkers with you so that everyone can be up to speed on the most recent developments affecting their job. In addition to state and federal legislative updates, the program will include a discussion on the recent developments in your industry.

As in the past, the schedule for each of these meetings is:

5:30 p.m. – Drinks
6:15 p.m. – Program
7 p.m. – Dinner

PRE-REGISTRATION IS REQUIRED. The cost is $60 per person. Click here for a registration form.

Locations and dates for this year’s events are:

Additionally, a special lunch edition of the Bankers Night Out events will be held on April 30 at Shangri-La, in Afton. It will start at 11:30 a.m. and the cost is $50 per person.

Please contact Thi Pham (thi@oba.com) for sponsorship questions

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OBA education corner …

Last week, we talked about how some old school R&B music had gotten stuck in our heads … this week, we stayed in the same time period but just changed the genre a bit! Tom Petty’s Full Moon Fever is our album du jour and it never disappoints. While not as dance-able as last week’s earworms, tracks like “Free Fallin’” and “A Face In The Crowd” are absolute staples for anyone who … well, anyone who enjoys music! So, while getting into a chill Tom Petty vibe, don’t forget to take part in some upcoming continuing education opportunities for you and your staff in 2025!

  • How To Craft An Effective Commercial Loan Write-Up, Feb. 14, webinar — The session will cover additional important loan write-up items including assessing the company’s strategic plan: “marketing, financing and management.”
  • Writing Procedures for Personal and Business Accounts: CIP/CDD, Risk, TIN Reporting, Feb. 18, webinar — During this class, we will take the core document from the deposit/share accounts handbook and set up a working document so that you can tailor your procedures into the framework we will provide.
  • 2025 TRID Essentials, Feb. 19, Oklahoma City — This seminar examines the intricacies of the TRID rules and highlights various tripwires to avoid at your institution.
  • What To Do When A Customer Dies, Feb. 19, webinar — This webinar focuses on the deposit and loan issues that arise when a customer dies.
  • 2025 Flood Insurance Essentials, Feb. 20, Oklahoma City — Join us in breaking down the broad range of technical flood insurance topics, including the escrow of flood insurance premiums, the detached structure exemption to the flood insurance purchase requirement, force placement procedures and private flood insurance.
  • Women in Banking Luncheon, Feb. 21-Oklahoma City; Feb. 28-Tulsa — Grounded in practical insights and real-world success, these sessions share strategies for fostering a collaborative culture where women leaders support and amplify each other.
  • Call Report Seminar, Feb. 25, Oklahoma City — The presentation will guide call report preparers through the practical application of the complicated instructions and provide clarity to common reporting challenges.
  • Security Awareness Training: Best Practices For Keeping Your Employees Engaged, Feb. 25, webinar — It’s time to shift our thinking when it comes to security awareness training. Yearly education and testing just doesn’t cut it in today’s cyber world.

Also, are you interested in joining an OBA board or committee? Click here to complete the Committee Interest Form for 2025-2026. We would love for you to get involved!

 

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