Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- USDA Discrimination Financial Assistance checks targets of fraudsters
- Recordings of fraud prevention conference available
- OBA Washington Visit just around corner: Join your peers in D.C. this fall!
- Second-quarter bank reports now available
- 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 returned to Oklahoma from vacation in the wee hours of Monday morning. Instead of just irritating myself with a scant couple hours sleep, I decided to head into the office early. Sleep deprivation is a real thing. I think by 3 p.m., I swore I saw Bigfoot saunter out of one of the bathrooms down the hall from my office …
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Yep, I just typed “Washington Visit” 100 times, in honor of the 100 attendees we had join us last year. Well, here’s one more: Washington Visit! It’s because we’re shooting for 101 – or more – for this year’s version.
Details are below in this OBA Update, but never hesitate to drop me an email or call to ask me more about it!
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Speaking of Washington, D.C., now that Kamala Harris has her running mate – Minnesota Gov. Tim Walz – it looks like we’re off and running for the presidential election this fall. Depending on how much you enjoy politics, it could be a wondrous or miserable 90-plus days.
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Since we last spoke, the Cubs have gone on an absolute tear! They’ve won four of their last six games … OK, yes, that counts as an “absolute tear” for the Cubbies.
In better news, Nebraska football team opened camp this past week!
As of now, the Huskers are undefeated!
USDA Discrimination Financial Assistance checks targets of fraudsters
As mentioned in the July 22 Weekly Update, Commercial New Account Fraud Rears Up in Oklahoma, watch for checks from the Inflation Reduction Act’s Discrimination Financial Assistance Program to be stolen from the mail system and deposited into new accounts opened for the purpose of committing fraud.
The application period for the Inflation Reduction Act’s Discrimination Financial Assistance Program ended in January 2024. This program provides financial assistance to farmers, ranchers and forest landowners who experienced discrimination prior to January 2021. Payments via U.S. Treasury checks were recently distributed for approved applications and mailed through the U.S. mail. Oklahoma had 2,926 award recipients who have or had a farming or ranching operation (receiving between $10,000 and $500,000 of assistance, with an average of nearly $82,000), or who planned to have a farming or ranching operation, but reported they were unable to do so because they couldn’t get a USDA loan (receiving between $3,500 and $6,000 of assistance, with an average of $5000).
Using the Treasury Check Verification system will NOT work in this scheme and all security features will be present. If the check is payable to an individual outside the state of Oklahoma who is opening a new account, attempt to independently locate a contact number for the printed payee to verify they are indeed in the state opening a new account.
Drop Sharon Lewis a line at the OBA if you have any questions about the scam!
Recordings of fraud prevention conference available
The second annual Fraud Prevention Conference was held in-person and virtually over three Fridays last month. Hosted by the FBI Oklahoma City Field Office, Oklahoma Insurance Department and Oklahoma County Sheriff’s Office, the Conference was helpful for financial institutions to understand many of the scams targeting their customers, particularly seniors.
If you were unable to attend, we were able to obtain recorded versions of each day’s events. You can download them below:
Day 1: Friday, July 12 — Protecting Your Online Identity
Second Annual Fraud Prevention Conference DAY 1
Day 2: Friday, July 19 — Banking and Financial Frauds
Second Annual Fraud Prevention Conference DAY 2
Day 3: Friday, July 26 — Healthcare Fraud and Exploitation
Second Annual Fraud Prevention Conference DAY 3
OBA Washington Visit just around corner: Join your peers in D.C. this fall
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.
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!
Second-quarter bank reports now available
Bank performance reports are now available for the second quarter of 2024.
OBA-endorsed The Bank Performance Report is a state-specific quarterly reporting service that ranks key indicators of banking performance. Utilizing data from the quarterly FFIEC Call Reports, the BPR ranks overall bank performance across eight different categories – net interest, non-interest income, non-interest expense, efficiency, NPA’s/equity and reserve, asset quality index, return on assets and return on equity.
The BPR serves multiple uses, including strategic profit planning, setting performance incentives/goals, board reporting, competition analysis, trends in the market, to name a few.
The quarterly subscription includes two eReports (pdf and Excel) providing the ability to easily share the report with others on your team and having access to the raw Excel data affords you the ability to perform additional statistical analysis.
OBA education corner …
Thirty years ago TODAY, a song by a singer not even yet signed to a record label hit No. 1 on the charts – the first time its ever happened!
Between the glasses and the nifty outfit in a cool video, it was also the start of a 30-year unrequited crush for the OBA’s own communications director, Jeremy Cowen! He annoys us talking about her all the time.
So, you say I only hear what I want to, and I talk all the time, but take a minute between all the hearing and talking to watch Lisa Loeb’s Stay (I Missed You) video (directed by the singer’s friend, Ethan Hawke), and then STAY around and check out some upcoming continuing education opportunities available from the OBA!
- The Right of Setoff: What Bankers Need to Know, Aug. 14, webinar — The right of setoff is a complicated, but effective, tool for collecting debts owed to a financial institution. Learn the best practices and dangers that can arise when using this process.
- Flood Insurance: Diving Deep on Calculations and Timing Requirements, Aug. 20, webinar — Join us as we review the coverage requirements, explain how to calculate the minimum flood insurance amount, and explain the critical timing requirements of the Flood Disaster Protection Act.
- What To Do When A Customer Dies, Aug. 21, webinar — Join us as we review the coverage requirements, explain how to calculate the minimum flood insurance amount, and explain the critical timing requirements of the Flood Disaster Protection Act.
- Reg. GG Compliance: It’s Been Awhile, Aug. 22, webinar — Reg. GG was passed several years ago, yet with more and more states allowing legal online gambling, how does this impact our compliance responsibilities? What does this regulation require us to do? Who does it apply to? How do we evidence compliance?
- Bi-Monthly Compliance Briefing – August, Aug. 23, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick-and-easy format.
- 2024 Forvis Mazars/OBA Banking Symposium, Aug. 27, Oklahoma City — This symposium will provide C-suite leaders with the economic, riskand accounting updates needed to effectively manage their financial institution.
- 2024 OBA Basic Banking School, Sept. 16-19, Oklahoma City — The school is designed to introduce students to basic banking concepts as they relate to the overall functioning of a bank. This school is designed to address the educational needs of new bank employees, management trainees, employees with limited or specialized banking experience and soon-to-be-promoted employees.
- ’24 Bank Trainers’ Conference and Expo, Oct. 9-11, St. Louis, Missouri — Hear from top training and HR speakers, leaving you inspired and ready to conquer new challenges.
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!