Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- FinCEN releases BSA data for past year
- Information security MAFIA meeting scheduled for Friday
- 2025 Oklahoma Views & Vistas Calendar available for early-bird orders
- 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 was on the road for much of last week, visiting banks in the far Northeast part of the state. It’s always good to visit our members in Miami, Bartlesville, etc – it’s such a gorgeous part of the state!
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I read about a survey via IBM that said a large majority of bank CEOs believe in the positive potential of artificial intelligence in their industry. Our communications director, Jeremy Cowen, has demonstrated to myself and several bankers at various schools the power of one form of AI: ChatGPT. It’s all a little mind blowing, but considering the results of the survey, it’s something everyone reading this should keep in mind for their industry going forward!
With that in mind, check out the education corner below where we have an upcoming webinar concerning the banking/AI crossroads.
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The college sports season is over – well, in Oklahoma and Nebraska, at least – and now we head into the quiet months before the sound and fury of college football starts up! The upcoming weeks aren’t completely bereft of teams for me to cheer for, though …
FinCEN releases BSA data for past year
The Financial Crimes Enforcement Network received approximately 4.6 million suspicious activity reports in fiscal year 2023, for an average of 12,600 reports a day, the agency said last week in its year-in-review report.
The report provides an overview of FinCEN’s collection and use of Bank Secrecy Act data, including its work with law enforcement and national security agencies. Among other things, the report shows that more than half of SARs filed in FY 2023—some 2.5 million reports—came from depository institutions. The agency also received 20.8 million currency transaction reports in that same time frame, for an average of 57,000 reports a day.
How can our bankers use this information? Take a look at the number of SARs filed by depository institutions for fraud – 2022 totaled 1.398 million, 2023 totaled 1.753 million. If your bank is struggling with fraud related loss, please contact OBA’s Fraud Division at sharon@oba.com to discuss mitigation options or education assistance.
Information Security MAFIA meeting scheduled for Friday
The Information Security MAFIA (Metro Area Fraud Investigators Association) meets quarterly to discuss informational security risks and solutions amongst banking peers. The next meeting will be held 9 a.m. on Friday. This will be an in-person meeting held at the Valliance Bank Tower, 1601 Northwest Expressway, in Oklahoma City, in the conference center on the first floor.
Our speaker for this June meeting will be Calvin Harley, cybersecurity state coordinator for Oklahoma with the Cybersecurity and Infrastructure Security Agency.
Harley will speak on the Cybersecurity Risks and Threats Facing Oklahoma. As Oklahoma grapples with the ever-evolving landscape of cybersecurity threats, it is essential to recognize the unique challenges faced within the state.
Remember: we are strongest when we are working together. To attend the IS-MAFIA meeting, please email Cherry Wilson at cwilson@tbb.bank to request an NDA form to be handed in at the meeting.
2025 Oklahoma Views & Vistas Calendar available for early-bird orders
The 2025 Oklahoma Views & Vistas Calendar is now ready to be purchased – order yours by Aug. 1 to get the special low price of just $1.10 per calendar – pricing after Aug. 1 is $1.25 per calendar.
Deadline is Sept. 15. This is a great way to share your bank’s logo and information to your customers!
OBA education corner …
JIt’s weird the musical holes we can fall into. Recently, blaring out of the communications department’s hole here at the OBA has been the not-so-subtle sounds of one Eddie Money. Nobody would mistake the erstwhile Eddie Mahoney for The Beatles, but I bet nearly everyone age 40 and older knows one or two of his songs! While (re)discovering some somewhat-forgotten hitmakers, don’t forget to keep an ear (and eye) open for upcoming OBA education opportunities! Take the following for example:
- TRID:Changed Circumstances & Revised Disclosures, June 18, webinar — This webinar will teach you about TRID’s changed circumstances, tolerances and the Good Faith standard.
- FCRA/FACTA: A Banker’s Responsibility, June 20, webinar — What are your institution’s responsibilities for compliance with the Fair Credit Reporting Act? The answer is more complex than you might expect. In this webinar, we’ll discuss the nuances of compliance and some of the most common violations.
- 4 Steps to a Practical Business Continuity Management Plan, June 20, webinar — The consequences to a financial institution can be severe if proper disaster recovery and business continuity planning does not occur and continuity of business fails.
- Branch Manager Best Practices, June 21, webinar — The way managers treat their team is subtly influenced by what they expect of them. What should you expect? How do you treat them? Learn how to build a team and coach them to success!
- 2024 Mid-Year Call Report Update and Current Matters, June 25, webinar — We’ll delve into recent shifts and explore proposed changes slated for implementation in 2024.
- TRID for Beginners, June 26, webinar — This webinar will take a look at the TRID rules from a beginner’s perspective. This is a great opportunity for you and your team to learn the basics.
- The Rise of Generative AI in Banking and Financial Services, June 27, webinar — This presentation will highlight the top use cases for generative AI in banking and potential unintended consequences.
- Compliance Responsibilities for Defaulted Mortgages: Foreclosures and Loss Mitigation, June 28, webinar — This webinar will discuss the requirements and provide guidance on the proper steps to follow to ensure you understand all the requirements when considering or initiating a foreclosure action.