Week of May 2

In This Issue…

CFPB report focuses on financial products

The CFPB issued a “Supervisory Highlights” report on Monday that focused on recent examiner observations of several financial products.

Among other things, examiners flagged issues related to auto servicing, consumer reporting, credit card account management, debt collection and mortgage origination. With regard to consumer reporting, the CFPB cited instances of furnishers’ failure to: conduct reasonable investigations of indirect disputes, report the results of direct dispute investigations to consumers, correct and update credit report information, and establish and implement reasonable policies and procedures concerning the accuracy and integrity of furnished information.

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Earlybird registration nearing for OBA convention!

Earlybird registration is still open for the 2022 OBA Convention, but ends after Thursday!

The 2022 OBA Convention & Trade Show is set for May 18-20 at the Omni Hotel in downtown Oklahoma City. This year’s theme is centered around that decade of decadence, the 1980s – hence our convention name of “The OB80s

Registration is NOW OPEN for the event, so it’s time to get yourself and your bank co-workers signed up for this year’s event.

This year’s Convention will feature an 1980s-themed exhibitor reception followed by a planned excursion to the Flashback Retropub to really revel in those 80s vibes!

Don’t wait! Get registered now: Click here to download the registration brochure … or contact the OBA education department at 405-424-5252.

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Contact OBA legal department by phone – email currently down

The email address to reach the OBA legal department, compliance@oba.com, is currently down. We are working to get it up and running again and apologize to any who have been inconvenienced by this issue.

Our legal assistance is still easily reachable by phone at 405-424-5252. Please do not hesitate to reach out with questions and concerns as we continue to work on the email issue. Thank you for your understanding!

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OBA education corner …

First things first: Have you registered for the OBA Convention yet? If not, check out the story a couple of paragraphs above this one, and take advantage of the earlybird rate before Thursday. Once that’s done, then take a peek at the other upcoming educational opportunities we have planned for you!

  • Loan Modifications: What are the Compliance Issues?, May 10, webinar — This webinar will deal with the ins and outs of making changes to loans of all types. We’ll discuss the compliance and legal requirements, operational challenges, and impacts to borrowers, guarantors and other parties to the loan.
  • The ABCs of ESG: A Primer for Bankers, May 10, webinar — During the webinar, participants will gain a basic understanding of ESG principles and practices and explore why banks are starting to integrate ESG into strategic priorities.
  • Notary Public, May 11, webinar — The webinar provides attendees with the dos and don’ts of being a notary public.
  • Reg E, May 11, webinar — In this session we will review the specific error resolution requirements of Reg E, discuss procedural best practices and provide tips on documenting your investigation.
  • ACH Basics and Refresher, May 13, webinar — Wondering what ACH really is and who all the participants are? We have the answer in this class.
  • CRE Lending: Property Types, Lease Structures and Other Non-Financial Risks, May 18, webinar — As banks continue to deal directly with CRE loans as a major portion of their loan portfolios, plus indirectly through income-producing or rental real estate holdings that affect customers, it is important to “get beyond the numbers” and assess the qualitative or non-financial factors that influence CRE performance over time.
  • Payday Lending and Regulation OO 2022 Update, May 18, webinar — Most depository institutions do not originate large volumes of “covered loans.” For those with limited covered loans, it is reasonable to tweak the product line-up to avoid the massive new rules. How do you evade the requirements of a regulation that contains two separate requirements (Sections 1041.5(e) and .13) that prohibit evasion? That is one of the many questions answered in this program.
  • Alert! FDIC Rules Change for Trusts and Mortgage Servicing Accounts, May 19, webinar — The Federal Deposit Insurance Corporation is amending its regulations governing deposit insurance coverage.
  • Writing and Updating Your BSA Policy, May 20, webinar — It’s 2022 and may be time to update your policy and procedures for BSA. We introduced the fifth pillar and beneficial ownership in 2018. So where are you now? Do you need to add cannabis? Add the new CTR changes?

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