Monday, October 25, 2021

Week of Jan. 25

In This Issue…

Yellen named nation’s 78th treasury secretary

Following a nomination by President Joe Biden, Janet Yellen was approved by the Senate on Monday to be the nation’s 78th treasury secretary, and first woman to hold the job in the department’s history.

Yellen, a former chair of the Federal Reserve, was approved by the Senate on a bipartisan 84-15 vote, becoming the third member of Biden’s Cabinet to win confirmation. She is expected to play a vital role in gaining congressional approval of Biden’s $1.9 trillion coronavirus relief package. At Yellen’s confirmation hearing last week, she expressed the importance of acting quickly to prevent a “longer, more painful recession.”

With her experience as an economist and professor at University of California at Berkeley, Yellen will play a key role in shaping Biden’s economic policies and overseeing a large department with a long list of global and domestic financial responsibilities.

Yellen was the first woman to serve as chair of the Federal Reserve from 2014 to 2018.

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Review your bank’s information for OBA directory

The Oklahoma Bankers Association Directory of Banks is again being produced this year by NFR Communications (formerly BankNews Media). 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.

Completed forms may be returned by email to or faxed to 913-261-7010. Please update the information no later than Feb. 10, 2021.

We appreciate your help in making the 2021 Edition of the Oklahoma Bankers Association Directory of Banks a success.

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OBA education corner …

We are almost a month into 2021, and OBA education events aren’t slowing down. Check out the OBA education corner to see what events are lined up for the beginning of 2021.

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.

  • State of HMDA in 2021webinar, Feb. 1 — In this webinar we’ll review all the pain points of HMDA, including for action taken and various of the data points.
  • Top Ten Loan Documentation Mistakes and How to Avoid Them, webinar, Feb. 4 — This webinar draws upon the speaker’s 25 plus years of teaching loan documentation and practicing law. Experienced bankers will benefit from confirmation of knowing “the right thing to do.” New lenders will learn to avoid the most frequent exceptions and loss-causing mistakes.
  • 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.
  • Reg CC Training for Tellerswebinar, Feb. 9 — 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. We will also take a look at the changes that are proposed–new disclosure format and new teller hold notices.
  • Protecting Your Salaried-Exempt Status, webinar, Feb. 10 — The Department of Labor changed the rules for salaried-exempt employees. Employers made major efforts to examine, adjust and properly classify exempt positions. HOWEVER, that is just the starting point. Once you have a salaried employee classified as exempt from overtime, don’t undo it and make a mistake which turns that exempt salaried employee into a non-exempt worker. This webinar will focus on how to preserve and protect the salaried status once it has been properly established.
  • 2021 Intro to Consumer Lending, Feb. 10, Tulsa, Feb. 11, Oklahoma City — The seminar will cover the basics of consumer lending including the consumer loan function, marketing consumer loans, and making consumer lending decisions based on the five (5) C’s of credit- capacity, capital, collateral, conditions, and character.
  • Federal Benefit Payments Garnishment Requirements, webinar, Feb. 11 — This webinar will give a general review of the requirements for processing garnishments and state tax levies under the rule, the special terminology that applies, the detailed steps financial institutions need to take when processing garnishment and levy requests, and more.
  • Train Smarter and More Effectively, webinar, Feb. 12 — During this program, you will discover how to design training that promotes learner involvement. We will tell you why you need to stop throwing as much information as you can at your trainee. You will also learn the proper use and purpose of training manuals.
  • 2021 Hot Topics for Bank Directors: A Virtual Workshop, Feb. 25 — Informed and engaged bank directors are key for a community bank’s success. These sessions broach on compensation, evaluations, and strategic planning along with other timely issues facing bank managers and their boards. The workshop is designed to assist bank directors and executive management with carrying out their duties and responsibilities. The workshops will offer ample time for discussion.
  • 2021 Commercial Lending School, Oklahoma City, Feb. 28 – March 5 — The Oklahoma Commercial Lending School is an intensive, one-week functional school designed for bankers with a basic understanding of credit and financial analysis. The school will demonstrate how to apply this knowledge in profitable commercial lending situations.
  • 2021 Virtual Call Reports Seminar, March 9 — This seminar will cover general information on new accounting and regulatory matters addressed within the Call Report to include several final issued Accounting Standards Updates that impact the financial services industry and regulatory reporting changes currently impacting the Call Report as well as those regulatory changes that are proposed for the future. The impact of the CARES Act and related regulatory interim and final rules resulting from the COVID-19 crisis will also be discussed.
  • 2021 Retail Banking Branch Manager Virtual WorkshopMarch 10-11 — This fast-paced, results-oriented series focuses on the critical success skills for managing and leading during this unprecedented time. The two-day workshop is packaged full of checklists, job aids, case studies, examples, and “real world” situations.

Also, the Graduate School of Banking at Madison, Wisconsin, is offering a couple of scholarships for the 2021 school year to a pair of its schools. GSB-Madison plans to award both the HR School scholarship and the Graduate Banking School scholarship in the coming months. Here’s additional info:

  • HR Virtual School Scholarship — $700
    • The school will start April 12 and will be presented over a two-week time frame.
    • Application due: Feb. 12.
  • Prochnow Scholarship — $1,500 for each of 3 years
    • GSB is held Aug 1-13.
    • Must be entering the first year at GSB and plan to attend three years.
    • Application due: March 19.

If you have any questions, contact Janis Reeser at the OBA.

One education program, in particular, to be aware of is the OBA Intern Program. The Intern Program will again be active in 2021 and we’re looking for participating banks! For more information on this IMPORTANT program – important not only to aspiring students, but also to participating banks – Contact the OBA education department at (405) 424-5252 or click here for more information!

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