Thursday, April 18, 2024

Week of July 29

In This Issue…

Free workshop by SBA, USDA set for next month on bank investment opportunities

The U.S. Small Business Administration and U.S. Department of Agriculture Rural Development will hold a free workshop on Aug. 22 at the Oklahoma City branch of the Federal Reserve for Small Business Investment Companies, Rural Business Investment Companies and banks across Oklahoma, Arkansas, Kansas and Missouri.

The event is designed to educate the banking community on bank investment opportunities available through licensed SBICs and/or RBICs to assist small businesses generally and particularly in rural areas. The workshop will include interactive panels consisting of bank regulators, existing managers from SBIC’s and RBIC’s, as well as investors and will provide an overview of the following benefits and opportunities:

  • Investing in licensed SBICs and RBICs
  • Qualifying investments under the Community Reinvestment Act (CRA)
  • Reporting documentation related to bank examinations and how investment fund managers may facilitate CRA compliance for bank investments in SBICs or RBICs.

There is no cost to attend this event, however advanced registration is required. Click here for more information and to register.

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Senate Banking Committee holds cannabis banking hearing

Last week, the Senate Banking Committee held a hearing to discuss issues relating to the “banking” of marijuana-related businesses. The hearing featured testimony by Sen. Cory Gardner (R-Colo.) and Sen. Jeff Merkley (D-Ore.), the two lead sponsors of bills in the Senate and sponsors of the Senate’s version of the “SAFE Act,” S. 1200.

The Committee also heard from representatives from the banking and credit union industries and some marijuana businesses in Colorado. Leading the discussion was Joanne Sherwood, president of Citywide Banks in Denver, Colorado, and who is the current chair of the Colorado Bankers Association.

Sherwood made it clear early in her testimony by recognizing that some senators would prefer to ignore or avoid discussion of legalizing the use of marijuana for medical or recreational purposes, while voters in 33 states have spoken that the use of marijuana for these purposes is an issue whose time has come, at least at the state level.

“As the legal state-cannabis industry continues to grow,” Sherwood said while testifying, “the indirect connections to cannabis revenue will continue to expand. Without congressional action and clearer guidance from banking regulatory agencies, that entire portion of economic activity, which operates across all 50 states, may be marginalized from the banking system.” (emphasis added)

Sherwood pointed out the conflict between state and federal law, particularly as it applies to the “legality” of marijuana use.

To read Sherwood’s testimony, click here.

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Bankers at the Brewery event scheduled in August

Join us from 4:30 to 6:30 p.m. (come & go) on Tuesday, Aug. 6, and enjoy beers and time with your banking peers at the Enid Brewing Company. The brewery is typically closed on Tuesdays, but they are opening their doors specifically for us.

Bankers at the Brewery will provide a unique atmosphere to meet fellow banking leaders. The first round is on the OBA!

Enid Brewing Company
126 S Independence Ave
Enid, OK 73701

Email to let us know you’re coming, or click here to register!

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HR 2336 introduced to modify Chapter 12 bankruptcy

H.R. 2336, the Family Farmer Relief Act, has been introduced to amend Chapter 12 of the Bankruptcy Code by increasing the current debt limit for Chapter 12 filings from approximately $4.3 million to $10 million.

Bankers are supportive of their farm and ranch customers and want them to be as successful as possible. This proposal will more than double the debt limit on Chapter 12 filings. Such a large increase is likely to increase the cost of credit for farmers and ranchers over the long haul, at least in view of the American Bankers Association.

“I think we agree with the ABA’s comment letter,” OBA President and CEO Roger Beverage said. “The Association hasn’t taken an official position yet, but the Board meets in August and may well take up this question at that time.

Click here to read the ABA’s comment letter.

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Answer leadership’s call: OBA Emerging Leaders Academy accepting applications

Take note the OBA 2019-20 Emerging Leaders Academy is currently accepting applications.

We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through non-traditional methods.

The OBA extends an invitation to any employee of a bank that is a member of the OBA to apply. A panel of bankers will review the applicants and choose those accepted into the Academy. Participants must attend all sessions to successfully graduate from the program.

There are six sessions to the Academy: Oct. 4, Nov. 15, Dec. 12, Jan. 10, Feb. 25, March 27. Graduation will take place on May 19, 2020, at the OBA Annual Convention in Tulsa.

Click here for more information or to apply! For more information, please contact Megan McGuire at (405) 424-5252 or

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OBA education corner …

These are what they call the “dog days” of summer. There’s still several weeks of hot weather in front of us, and autumn seems impossibly far away. Take advantage, however, of these days that seems to barely drag along and use a few spare hours on continuing education from the OBA! Take note of the following:

  • Excel Explained: Budget Spreadsheets, Aug. 6, webinar — In this comprehensive webinar, Excel expert David Ringstrom, CPA, teaches you how many Excel functions and features can be used to create adaptable and easy-to-maintain budget spreadsheets.
  • Creating Effective Anti-Harassment Policies and Processes, Aug. 7, webinar — This program gives practical advice on implementing harassment policy. Perhaps more important, there are illustrations of what to include and what not to include in your harassment policy and procedures.
  • 2019 TRID Essentials Seminar, Aug. 7, Oklahoma City — Daily TRID management continues to challenge many banks and lenders; this one-day program provides a thorough review of the revised TRID Rule.
  • Do’s and Don’ts on Formal and Informal Trust Accounts, Aug. 7, webinar — When opening these special accounts, you need to know about proper documentation, CIP, and signature card responsibilities.
  • TILA/RESPA Mortgage Servicing Rules, Aug. 8, webinar — Join Regulatory Compliance Counsel Michael Christians for this 90-minute webinar that discusses your bank’s servicing responsibilities under both Regulation Z and Regulation X.
  • Deposit Compliance Issues, Aug. 8, webinar — During this program we will cover some of the major issues that affect the compliance of your financial institution from these regulations.
  • ACH Exception Processing, Aug. 9, webinar — So, what is an exception, and how do you protect your bank and remain compliant with the ACH Rules?
  • Call Report – Lending Schedules for Banks, Aug. 13, webinar — This webinar will help you learn the classification priority for reporting loan information correctly and will provide detailed information on correctly reporting unused commitments, interest rate lock commitments and insider loans.
  • Do’s and Don’t on Power of Attorney Documents, Aug. 13, webinar — This program will look at power of attorney “dos and don’ts” and how to prevent your institution from making costly mistakes in handling these high-risk documents. We will also provide you with some guidance about what procedures you should have in place for handling POAs.
  • Providing Accurate and Timely Adverse Action Notices, Aug. 14, webinar — Both the Equal Credit Opportunity Act and the Fair Credit Reporting Act contain requirements for providing notice of action taken. This webinar reviews the requirements of both laws and covers common violations and provides solutions.
  • Marketing & Advertising Compliance, Aug. 14, webinar — As the compliance environment becomes more complex, your marketing department must stay on top of all the rules and regulations. This session can help.
  • Vendor Management – How Model Risk Fits In, Aug. 15, webinar — You will walk away with a clearer understanding of where vendor management and model risk management fit in within your ERM program.
  • 2019 Intro to Commercial Lending Seminar, Aug. 28-Tulsa; Aug. 29-Oklahoma City — This seminar covers the basics of Commercial Lending and is a must for all new commercial lenders and/or those individuals who want to explore this vital discipline.
  • 2019 Cybersecurity Seminar, Sept. 5, Oklahoma City — This seminar is designed to provide training on evolving cybersecurity threats and what your bank should do to build a strong Information Security Program that helps protect against these threats.
  • 2019 Advanced New Accounts Seminar, Sept. 10-Oklahoma City; Sept. 11-Tulsa — This program will get you up to speed on both practical and legal requirements for opening and documenting various types of non-basic new accounts.
  • 2019 Analyzing Financial Statements Seminar, Sept. 18-20, Oklahoma City — Commercial lending officers, credit department personnel, loan review personnel and operations personnel interested in learning more about commercial lending will benefit from this three-day course.

Finally, here’s a save-the-date reminder for the 2020 OBA Senior Management Forum! The Conference has been scheduled for April 5-7 at the Bellagio in Las Vegas. Look for more information in the upcoming months!

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