Legal

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In this issue: 2024 Oklahoma Legislation – Part I A potpourri of deceased customer Q&As Still more on the FDIC’s revisions to part 328 2024 Oklahoma Legislation – Part I By Pauli D. Loeffler Uniform Special Deposits Act – Tit. 6 O.S. § 910 et seq. This is an entirely new Act that has only been adopted in the states …

More on the FDIC’s Revisions to Part 328 By John S. Burnett In last month’s Legal Update, I offered an analysis of the changes the FDIC has made to the rules applicable to deposit-accepting ATMs (and similar equipment) in its regulations at 12 CFR Part 328 on Advertisement of Membership, False Advertising, Misrepresentation of Insured Status, and Misuse of the …

Legal Briefs Index Compliance News Links Federal Regulatory Agencies News from the FDIC OCC’s: What’s New Federal Reserve’s: What’s New CFPB – Policy and Compliance home page: Law & Regulation for Examination Manual, Notice and Comment, Guidance Documents, etc. State Regulatory Agencies Oklahoma State Banking Department The Oklahoma Department of Consumer Credit The Oklahoma Medical Marijuana Authority Oklahoma Tax Commission – …

Bankers’ FAQs Changes in UCCC amounts effective 7/1/24 ATMs and the FDIC’s new Advertisement of Membership Rule Bankers’ FAQs By Pauli Loeffler Some of the questions submitted to the OBA’s Compliance team are asked with some frequency by our members. We’ve gathered some of these questions and responses to assist you when similar situations present themselves. Altered check, indorsement claim …

Military Customers – A Protected Class? By Andy Zavoina For starters, service members are not a protected class under Reg B or ECOA, but note I added a question mark in the title of this article. The question is, do you want to treat them as a protected class? In my opinion, a bank often mitigates risks most effectively by …

Update on the new CRA regulations FDIC rule affects ATMs, websites, apps and more Personal liability Update on the new CRA regulations By John S. Burnett You know that the Federal Reserve Board, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation announced final revisions to their Community Reinvestment Act regulations in October 2023, and those rules …

OBA Feedback FCRA and HR Employees, Social Media, and Ownership Federal Preemption in Question OBA Feedback By Andy Zavoina The OBA has had numerous requests about what can be done when a credit report is accessed on a consumer and that consumer becomes inundated with calls from other lenders competing for the loan or to offer ancillary services. The consumers …

CFPB Proposes New NSF Fee Rule Overdrafts — Comments Requested Editor’s Note: We do not usually write about proposed rules in Legal Briefs because so much can change between publication of a proposal and issuance of a final rule. However, we believe that Oklahoma’s bankers need to know about both of the recent CFPB proposals discussed in this edition. CFPB …

’Tis Still the Season — Security and Fraud Losses MLOs Hirable Now — Changes in Section 19 AI in Banking ’Tis Still the Season By Andy Zavoina Security and Fraud Losses The holiday season has ended and now it is all about the returns. Side note – it is a great time not to be working at Amazon. What does …