Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- ABA: CFPB rule could reduce credit availability for consumers
- Free webinar available on #BanksNeverAsk campaign
- Oklahoma Bankers Hall of Fame accepting nominations for 2024
- 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 headed to Durant today for a meeting of the board of directors for the Southeastern Oklahoma State University Foundation, which I recently joined. I’m planning on stopping along the way to visit at a few banks!
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Speaking of Durant, last week, the OBA senior staff, along with the OBA Board of Directors Executive Committee and a couple of other bankers, attended a strategic planning retreat in Durant. Plenty of good ideas were shared and bandied about during the session and we look forward to implementing several of them over the next few months!
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We’re officially fewer than three months away from the election!
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Well, Nebraska football is STILL undefeated this season! All joking aside, I was looking at the Cornhuskers’ schedule the other day with our communications director, Jeremy Cowen, and he is absolutely CONVINCED my boys are going to be 7-0 rolling into Columbus, Ohio, on Oct. 26. Now, he wouldn’t dismiss the possibility of the ‘Huskers not winning again for the rest of the season, but I think I’d take that opening 7-0 for sure!
ABA: CFPB rule could reduce credit availability for consumers
In comments on Monday, the American Bankers Association said it had significant concerns with a proposed rule to prohibit lenders from considering medical debt and remove medical bills from most credit reports, arguing that the rule as drafted would increase credit risk and reduce credit availability for consumers.
The Consumer Financial Protection Bureau in June issued a proposed rule concerning the use and reporting of medical debt under the Fair Credit Reporting Act, or FCRA. Specifically, the rule would prohibit credit reporting agencies from sharing information about medical debts with lenders. It also would prohibit lenders from considering medical debt when making lending decisions.
In its comments, ABA said it agrees with the CFPB’s proposal to exclude credit issued by a third-party lender from the term “medical information.” However, the association had numerous concerns about the rest of the rule. Among other things, it said that the rule violates the Administrative Procedure Act, or APA, because the CFPB is giving itself authorities that Congress did not intend when lawmakers enacted the FCRA.
Free webinar available on #BanksNeverAsk campaign
ABA’s award-winning #BanksNeverAsk campaign returns in October with new check fraud resources. Banks can prepare for their campaign participation by attending a free webinar later this month.
The webinar, scheduled for 2-3 p.m. on Aug. 27, will include guidance on the new website, social media posts and videos designed to tackle the growing threat of check fraud and show customers how to safely use checks. The website and all materials will be available in English and Spanish, and updated toolkit materials will be available later this month.
Click here to register for the webinar.
Oklahoma Bankers Hall of Fame accepting nominations for 2024
The Oklahoma Bankers Hall of Fame is now accepting nominations for the upcoming 2024 class; 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.
OBA education corner …
Sometimes, we spend too much time thinking about silly things. For example, after watching a couple of the John Wick movies this weekend – one of our favorite action series’ of all time – the question has floated around: What would happen if Wick fought Lethal Weapon’s Martin Riggs? Would it be like dividing by zero? Would it cause all life in the universe to stop instantaneously and every molecule in our bodies to explode at the speed of light? While pondering this intriguing rhetorical question, check out some upcoming continuing education opportunities available from the OBA!
- 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.
- Deposit Regulation Training for Customer Service Representatives, Aug. 27, webinar — Is your front line a compliance asset or liability? This session will make them a compliance asset!
- TRID Hot Spots, Aug. 28, webinar — This webinar will look at hot spot areas related to TRID. Learn what examiners are citing as well as other common errors in plain English.
- Best-Ever Compliance Checklists for Consumer Loans, Aug. 28, webinar — This webinar will guide lenders and processors through easy-to-use checklists that will clarify and simplify the compliance requirements for consumer loans.
- Reg. O and W: Dealing With Insiders, Aug. 29, webinar — This webinar will detail the many requirements of Regs O and W and provide tips to assure effective compliance management practices. We’ll talk about who the insiders and affiliates are and how to manage the many requirements.
- 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.
- 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.
- 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.
- ’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.