Saturday, April 13, 2024

Week of July 26

In This Issue…

Tenth District services, manufacturing activity show increases

Tenth District services activity, as well as manufacturing activity, rose in July, and expectations for future activity remained positive, according to joint releases from the Oklahoma City Federal Reserve late last week.

Indexes for input prices and selling prices continued increase from a month ago and a year ago, but slower than the record pace in recent months. Moving forward, firms expected input and selling prices to continue to rise over the next six months.

The index of prices paid for raw materials remained near record highs and the index of prices received for finished goods expanded again in July. Price indexes vs. a year ago posted record highs in July for the fourth straight month. In July, more district firms expected materials prices and finished goods prices to rise over the next six months.

Click here to read more about the services activities and click here for more about the manufacturing activity.

Back to top

2021 Oklahoma Banking Code Book available for purchase

The newly revised 2021 Oklahoma Banking Code Book is available for purchase. This handy desktop reference is a must for every bank, attorney and CPA.

Learn about new laws related to:

  • Powers of authorized signer.
  • Savings promotion raffle.

Understand changes to:

  • Deposits in name of two or more persons.
  • Payable on death accounts.
  • Change in designation of beneficiary.
  • Transfer of funds to known heirs of deceased.
  • Open Meeting Act.
  • Privilege tax.

The Banking Code Book will also continue to include:

  • All the statutory provisions of the Banking Code.
  • Complete rules of the State Banking Board.
  • Branch banking.
  • Holding companies.
  • Safe deposit operations.
  • Deposit account ownership.
  • Closing day.

Click here (.pdf) for more information and to order!

Back to top

OBA education corner …

Here comes the heat! No,we don’t mean the Miami basketball team is coming to town, but the weather is sure getting South Florida hot! Stay cool and check out the following OBA education events while doing so:

NOTE: Effective March 16, 2020, 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.

  • Do’s and Don’ts on Power of Attorney Documents, Aug. 3, 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.
  • Writing an Effective Credit Memorandum, Aug. 3, webinar — This course teaches skills required to write an effective credit memorandum. Learn to emphasize important factors and trends without stating the obvious.
  • Total TRID Four-Part Series, Aug. 4, 5, 6 and 10, webinars — This four-part program provides the information needed to master the TRID rules. It focuses on origination of closed-end loans secured by real property.
  • Consumer Real Estate Loans, Aug. 4, webinar — This webinar will help you tame those scary real-estate-loan problems and will be particularly helpful to banks wanting to offer consumer real-estate loans for the first time in several years.
  • Advertising Compliance, Aug. 5, webinar — Advertising presents a unique challenge when it comes to regulatory compliance. This webinar will walk you through all the requirements that could come into play.
  • Protecting Your Salaried-Exempt Status, Aug. 12, webinar — A focus on only the new salary requirements can be a big mistake. One must also preserve and protect the salaried status once it has been properly established.
  • Servicemember Issues: The Military Lending Act & SCRA, Aug. 12, webinar — This webinar is designed to address all these issues, and especially the new MLA rules, so you can be prepared.
  • Banking Cannabis Businesses: FinCEN Guidance, Due Diligence Policies and Procedures and Risk Management, webinar — Join us as we take the stigma out of banking cannabis-related businesses, and help you prepare your policies, procedures and best practices.
  • 2021 CECL Update, Aug. 11-Tulsa; Aug. 12-Oklahoma City — The CECL seminar is designed to provide a look into the standard and the evolving impact for community banks. We will present the basics of the standard and discuss available model methodologies.
  • 2021 Supervisor Bootcamp, Sept. 8-Tulsa; Sept.9-Oklahoma City — Explore the coaching and leadership skills that lay out your plan for success as a highly effective supervisor in this results-oriented workshop!
  • Real Estate Lending Compliance Seminar, Sept. 14-15, Oklahoma City — This two-day program provides an overview of the real estate lending requirements from ten regulations, along with comprehensive coverage of selected topics, policy suggestions, employee training tips, audit techniques and steps to eliminate past problems.

Back to top