Wednesday, October 20, 2021

Week of Nov. 23

In This Issue…

OCC finalizes update to activities and operations rule

The Office of the Comptroller of the Currency on Monday issued a final rule that updates its rules for national bank and federal savings association activities and operations.

The rule is part of the OCC’s continuous effort to modernize its rules and remove unnecessary requirements to relieve banks of unnecessary burden, encourage economic opportunity, and promote the safe, sound, and fair operation of the federal banking system.

The final rule changes 12 CFR 7 to update or eliminate outdated regulatory requirements that no longer reflect the modern financial system and to clarify and codify recent OCC interpretations.

For the list of changes being made and to read the full story, click here.

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OBA offices closed during Thanksgiving

The OBA will be adjusting its hours this week for the holiday.

We will be closed for Thanksgiving (Thursday, Nov. 26) and the day after (Friday, Nov. 27). We will resume normal hours on Monday.

Keep these hours in mind, and have a happy Thanksgiving!

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OBA education corner …

Thanksgiving is just two days away. Here’s some OBA education event to be thankful for! Look for these coming up soon.

NOTE: Effective March 16, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations.

  • Phishing 101: How Employees Are Targets, webinar, Nov. 30 — This discussion will highlight the advancements in cybercrime and social engineering that are targeting our people resources. Best practices will be discussed for processes necessary to improve the weakest links in our institutions.
  • Are Safe Deposit Boxes on Their Way Out?, webinar, Dec. 1 — This presentation provides answers for the most frequently asked “phasing out” questions and addresses the many important “pros and cons” for continuing or discontinuing safe deposit boxes.
  • Regulation CC Holds, webinar, Dec. 2 — There are many questions, such as can we place a hold on a cashier’s check? How many days can we hold checks on a new account? Does this apply to business accounts? Do we have to give the hold while the customer is there or can we mail it later? These questions will all be addressed in this informative and easy-to-follow webinar for the frontline.
  • Controlling the Risks of Power of Attorney Documents, webinar, Dec. 2 — This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents.
  • CTRs: Line by Line, webinar, Dec. 3 — We will go line by line through the instructions and follow up with very detailed examples.
  • E-Sign for Lending – Challenges and Solutions, webinar, Dec. 8 — What steps must be followed to be in compliance with E-Sign? What NEW steps should be taken to verify the customer’s identity in view of an increased risk of identity theft? This program will answer these questions and more.
  • Regulation E: Errors & Disputes, webinar, Dec. 9 — This webinar will dissect the Regulation E error resolution requirements in plain English.
  • Fair Lending, CRA, FCRA Seminar OnDemand Live Streaming, Dec. 10 — Attend the Fair Lending, CRA and FCRA Seminar from the convenience of your own office or home via Live Streaming Video as it happens on Thursday, Dec. 10 (9 a.m. – 4 p.m.), or at your own convenience with six months of OnDemand playback. This seminar will cover Fair Lending, the Community Reinvestment Act and the Fair Credit Reporting Act.
  • Opening Accounts for Nonresident Aliens, webinar, Dec. 10 — This session will address the following questions about procedures and your bank: What does the law say about identifying nonresident aliens? What type of identification is being used around the country to open accounts? What are the proper procedures for W-8 reporting? What role does Office of Foreign Assets and Control (OFAC) play in your new accounts procedures?
  • SARs & COVID Fraud, webinar, Dec. 11 — During this program, we will discuss completing the Suspicious Activity Report for COVID-19-related crimes. Advisory after advisory has come out this year detailing the red flags for COVID crime and how to complete the SAR. This program will look at all these advisories.
  • Coaching Skills Bootcamp, webinar, Dec. 11 — Managers who develop strong coaching skills inspire and encourage employees in the workplace in a way that brings out the best in others. Are you the one expected to address behavior issues in the workplace and often feel like you are not getting anywhere when you do? Is part of your job to learn how to tactfully have difficult or dreaded conversations with other people from time to time? This webinar will give you the coaching skills you need to be successful in your position.

Please note: The Loan Documentation, Compliance, Structure seminars instructed by David Osburn and scheduled for next week are now going to be virtual sessions via Zoom. They will still be offered on Dec. 2 and 3. Links to the Zoom meeting will be sent to registrants by the OBA education department, so be on the lookout for those.

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