Week of Jan. 13

In This Issue…

• From Adrian’s desk …
• OBA, ABA, state bankers associations ask Trump to halt current regulatory actions
• Unauthorized tap-to-pay fraud increasing
• CFPB drops proposed ban on NSF fees for instant transactions
• Regional Housing Forums series scheduled
• Review your bank’s info for upcoming Directory of Banks; participate in director compensation survey
• 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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We had our first major candidate announce his intention to run for the Oklahoma governor in 2026 on Monday. Gentner Drummond officially threw his hat in the ring during an event in Pawhuska. Drummond, who currently serves as Oklahoma’s attorney general, immediately received an endorsement from the State Fraternal Order of Police union.

Let the fun begin!

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Speaking of politics, we’re less than three weeks away from Gov. Stitt’s State of the State address on Feb. 3, and the official opening of the legislative session. It should be an interesting time for sure. With all the new faces at the state level, as well as coming in at the federal level, I again encourage as many bankers as possible to join me on a joint OBA/ABA Zoom webinar on Jan. 30.

During this webinar – held exclusively for Oklahoma bankers – ABA Executive Vice President of Congressional Relations Kirsten Sutton and I will share valuable insights on the upcoming 119th Congress, the state legislative session and the evolving landscape at both the state and federal levels.

Don’t miss this opportunity to gain critical knowledge on what to expect and how to navigate potential changes in policy.

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Oof. It was a rough week for Nebraska men’s basketball as the Huskers dropped two games. The first was a tough overtime loss to Iowa, but the second one … yuck … the less said about it the better.

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OBA, ABA, state bankers associations ask Trump to halt current regulatory actions

The OBA, American Bankers Association and all other 51 state bankers associations urged President-elect Trump to halt work on all open regulatory actions during his first day in office and conduct a comprehensive review of regulations created in the past four years, pointing to what they said has been an onslaught of “questionable and unnecessary policy actions.”

In a joint letter, the associations asked for the regulatory pause and for the president-elect to extend the effective dates for finalized regulations until his administration has time to review and assess the policies. They also requested a review of agency guidance and pending agency litigation.

The groups urged Trump to direct the Treasury secretary to initiate a comprehensive review of the current regulatory rulebook, paying particular attention to the changes enacted over the past four years “to assess the cumulative impact of these rules and how they are suppressing access to capital and credit across the country.”

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Unauthorized tap-to-pay fraud increasing

According to frankonfraud.com, there is a rise in donation “Tap to Pay” fraud where consumers are approached in a parking lot (Target, WalMart, etc.) by individuals (scammers) requesting a small donation to help with <insert any sob story>.

The victims believe they are donating $10 or $20, but the scammer is manipulating the transaction and billing them for thousands. Technically, these transactions were authorized by the consumer but processed for the wrong amount.

CFPB Electronic Fund Transfers FAQs state, “Unauthorized EFTs include transfers initiated by a person who obtained a consumer’s access device through fraud or robbery and consumer transfers at an ATM that were induced by force. Comments 2(m)-3 and 4.”

Do these transactions fall under Reg E or under Visa/MasterCard Zero Liability protections? Financial institutions should be careful in how they process these disputes to avoid regulatory criticism or chargeback declines for improper filing.  Consistency in how you handle Reg E disputes is important!

Here are some related articles for more information:

• Scammers reportedly using ‘tap to pay’, credit card transactions to take thousands from shoppers.
• Couple gets scammed for $4,500 upon entering Chicago store, man thrown by car in confrontation – CBS Chicago.

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CFPB drops proposed ban on NSF fees for instant transactions

The Consumer Financial Protection Bureau is withdrawing a proposed rule to prevent financial institutions from charging insufficient funds fees for transactions that are instantaneously declined, according to an advanced notice in the Federal Register.

The bureau will instead consider a “more comprehensive approach” that may involve restricting other NSF fees.

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Regional Housing Forums series scheduled

The Housing For Communities organization will host four forums designed to tackle Oklahoma’s housing challenges, which might have relevant data for banks’ CRA and compliance staffs.

The forums are slated for Jan. 22 in Chickasha, Jan. 30 in Oklahoma City, Feb. 12 in Tulsa and Feb. 19 in Ardmore.

For more information on these events, click here!

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Review your bank’s info for upcoming Directory of Banks; participate in director compensation survey

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 last week 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 Feb. 5, 2025.

Also, we are excited to announce the 2025 Director Compensation Survey is now open for bank participation!

This survey only includes financial institutions. Director compensation data will be gathered surrounding board meeting fees, committee fees, chair fees, retainers, equity, benefits and total director compensation, as well as 10 director compensation trends questions. Data cuts will be broken out by asset size and/or region, where available.

Please click here and download the excel file for the survey. The deadline to complete the survey is Friday, Feb. 23.

In 2025, we are offering a subscription option for our surveys. You can pre-pay and purchase both of our 2025 surveys. The 2025 subscription includes both the Director Compensation Survey and the Salary & Cash Compensation Survey (to be conducted later in 2025 – watch for emails in the spring).

Subscription Option Pricing (includes both surveys)

• OBA Member Participant**: $600
• OBA Member Non-Participant: $1,200

Individual Survey Pricing

• 2025 Director Compensation Survey: $250 (OBA Member participant) / $550 (OBA Member non-participant)
• 2025 Salary & Cash Compensation Survey: $350 (OBA Member participant) / $650 (OBA Member non-participant)

** Please note if you choose the subscription option at the participant rate; however, are unable to participate in one or both surveys, no refunds will be issued. In such cases, the bank has the option to purchase the survey findings at the non-participant rate, and the difference in cost will be invoiced accordingly.

To pre-order your copy of the survey, express your interest in the subscription option, or if you have any questions regarding the survey, please contact Laura Roth at surveys@blanchardc.com or 612-850-0153 or contact Thi Pham at thi@oba.com.

We appreciate your time and commitment to contributing to the success of our surveys.

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OBA education corner …

Anyone else been watching Landman? It’s another show by Yellowstone creator Taylor Sheridan, and – (whispers) – might be even better than Yellowstone. The finale was Sunday night and it didn’t disappoint. Billy Bob Thornton is, as expected, amazing, but the rest of the cast is incredible as well. Check out a couple episodes and we bet you’ll be hooked … and when you’re done, check out some upcoming continuing education opportunities for you and your staff!

• What’s the Difference? Same-Day ACH, RTP & FedNow Explained, Jan. 21, webinar — This session will dive into the transaction limits and unique features of each system, offering you valuable insights into how these faster payment methods operate.
• Managing Third-Party Relationships, Jan. 21, webinar — During this program we will look at third-party relationships and intermediaries in light of our BSA/AML/CFT programs and the management of these relationships.
• Basic Real Estate Loan Documentation, Jan. 22, webinar — Real estate loan documentation is no easy task. Join us for an overview of real estate loan documentation requirements, regulatory compliance issues, loan administration issues and best practices.
• 2024 Compliance Updates, Jan. 22-Tulsa, Jan. 23-Oklahoma City — These Updates are separated into operations and lending for each day: they can be registered for together or individually.
• Community Reinvestment Act: New Rules and Current Requirements All-Day Streaming, Jan. 23, webinar — This all-day streaming session will go over the details of the new Community Reinvestment Act (CRA) and point out important differences between it and current requirements.
• BSA Risk Assessment Workshop, Jan. 24, webinar — Before you can write policies, before you can schedule that next audit, and before you can assign your next training course, you must review and update your institution’s BSA/AML Risk Assessment.
• State of HMDA in 2025: Rules and Tips for Successful Submission, Jan. 28, webinar — There are more than a few tripwires and tricky data points to keep track of, and that requires a detailed and consistent process to ensure the right information is collected and submitted every time.
• Handling Legal Documents: POAs, Trusts, Estates and Guardianships, Jan. 28, webinar — Risk? Is taking court orders, power of attorneys and other documents too much risk?
• Applying the Reg. E Resolution Process to Today’s Transactions, Jan. 29, webinar — In each of the last several years, examiners have cited Reg E errors in their top five regulatory issues during compliance exams.
• Processing Garnishments on Accounts Containing Federal Benefit Payments, Jan. 30, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.
• Basic Personal & Business Tax Return Analysis, Jan. 31, Oklahoma City — Attend this proactive seminar and gain an understanding of the often complex and confusing topic of TAXES!
• 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.
• 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.
• 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.
• 2025 OBA Senior Management Forum, April 6-8, Indian Wells, California — One of the key benefits in the conference will be talking with your peers. Attendees at the OBA 2024 Senior Management Conference will be surrounded by those with similar titles, similar workloads, similar problems and likely solutions to issues that can be just as similar. If you have any questions or want to get signed up, contact the OBA’s education department at 405-424-5252.

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