Wednesday, October 20, 2021

Week of Dec. 7

In This Issue…

Trade groups urge postponement of Figure Bank charter application

ABA and six other industry trade groups on Monday urged the OCC to postpone its consideration of a charter application submitted by Reno, Nevada-based Figure Bank. The groups raised significant concerns about the application, including the implications of granting a bank charter to an organization that only accepts uninsured deposits.

In a letter to the OCC, the groups asked for a postponement until further public comment has been solicited and other banking regulators and the Department of Justice are consulted.

To read the full story, click here.

OBA Office Depot Program brings new deals

Advocacy on behalf of our members is why the Oklahoma Bankers Association exists. Protecting your interests and ensuring Oklahoma is a banking and business-friendly state is our number one priority. Membership dues are one way we keep the association afloat, but member dues alone – don’t cover all the expenses associated with our advocacy efforts and other association activities.

How do we make up the difference?

Good question. A portion of OBA’s non-dues income is generated through our endorsed business partnerships, such as our Office Depot program. Of course, this only works when our members make an active choice to participate. We wouldn’t ask our members to use an endorsed vendor solely because it helps the OBA. We know it also has to be a good business decision for you. So let us prove that it is.

OBA would welcome the opportunity to demonstrate how our Office Depot program can save your bank money. Just send us a few months of invoices from your current vendor and we’ll show you the savings. Most banks participating in this national program, which is specifically built for banks, save at least 20%. If our program can save you money while driving essential non-dues revenue to OBA, won’t you make the switch?

Maybe you’re wary of switching vendors. Don’t be. You can rest assured that Office Depot will do the heavy-lifting to ensure a quick, easy and smooth transition. There are no contracts to sign or hoops to jump through.

Every bank needs office supplies, and where you buy them matters. By choosing OBA’s Office Depot program you can help us help you.

To download this month’s Office Depot coupons, click here.

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OBA education corner …

December is upon us, and as the year is finally coming to an end, the OBA has some education events on the calendar this month to round out 2020. 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.

  • Understanding Revocable and Irrevocable Trust Documents, webinar, Dec. 14 — This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents.
  • BSA Year End Round Up, webinar, Dec. 15 — This year-end wrap up will focus on looking at the 2020 year including beneficial ownership, CTR, and crimes listed on the SAR. We will look at the areas of hot crime and the examination hot spots.
  • Notary Public, webinar, Dec. 17 — Notaries and others will learn best practices for dealing with issues unique to the financial industry. Help your team know their responsibilities, plus learn basic laws, liability and reviews of various notarial acts.
  • IRS Information Reporting: Rules and Forms, webinar, Dec. 17 — Learn about the many forms financial institutions must report, with an emphasis on when and exactly what to report. We’ll include easy-to-follow charts to complete each form.
  • Call Report Impacts and a Look at 2021, webinar, Dec. 17 — This 90-minute webinar will recap the most significant changes that impacted the 2020 Call Report, whether from the impact of COVID-19, the implementation of new accounting standards, or other regulatory reporting changes. Common questions and reporting uncertainties that have surfaced over the course of the past two quarters will be incorporated into the presentation.
  • 2021 Compliance Update, Jan. 26, Tulsa, Jan. 28, Oklahoma City — The 2021 Compliance Updates will provide a review of issues and concerns facing every bank’s compliance team. The sessions will focus on “hot” topics, trends, and areas that may need more emphasis. Common compliance mistakes also will be covered.
  • 2021 Intermediate Banking School, Session 1, Oklahoma City, Feb. 1-5 — Presented in two sessions, the school is designed to prepare students to serve effectively and profitably the needs and desires of their banks and the banking public. A major objective of the program is to instill an appreciation for and an understanding of the operations and interrelationships of departments within a bank.

The application for the 2021 GSB Madison HR School Scholarship is now open. The school is in April, and will be conducted virtually. The deadline to apply for the scholarship is Feb. 12, 2021. Click here to download the application.

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