Thursday, August 11, 2022

Week of July 11

In This Issue…

Kansas City Fed president cautions on changing rates

Federal Reserve Bank of Kansas City President Esther George spoke at an industry conference earlier this week and cautioned about the rapid changing of interest rates.

George was the only member of the Federal Open Market Committee member to vote against the Fed’s 75 basis point rate increase in June, instead preferring a 50 basis point increase – and the FOMC meeting minutes envision another 75 basis point hike later this month.

“I’m certainly sympathetic to the view that interest rates need to increase rapidly, recognizing that current rates are out of sync with today’s economic landscape,” George said. “However, I am also mindful of how the rate of change in tightening policy can affect households, businesses and financial markets particularly during a time of heightened uncertainty.”

You can read all of George’s transcribed speech on the Kansas City Fed’s website (.pdf).

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Oklahoma Bankers Hall of Fame nominations deadline this week

The OBA will be taking nominations for 2022 Oklahoma Bankers Hall of Fame inductees through the end of this week.

The Hall of Fame was created by the OBA Board of Directors to honor individual bankers for their contributions to the banking industry and the State of Oklahoma. In addition, the Hall of Fame is intended to recognize bankers’ achievements on behalf of the Association’s member banks.

Oklahoma Bankers Hall of Fame overview.
Oklahoma Bankers Hall of Fame nomination instructions.
Oklahoma Bankers Hall of Fame nomination form.

The following criteria will be considered by the nominating committee when selecting individuals to be nominated for selection to the Hall of Fame:

  • Affiliation (past or present) with an Association member bank.
  • Service on boards or committees of the Association.
  • Participation in the activities of banker trade associations at the national level, such as the American Bankers Association and Independent Community Bankers of America.
  • Contributions to the development, improvement and growth of the banking industry in Oklahoma.
  • Whether the individual has had a significant impact on the manner in which financial services are provided to consumers.
  • The individual has demonstrated the importance of community involvement and participation in the work of various community groups at the local, state and national levels.
  • The number of years of service to the state and the industry.

Nominations for induction into the Oklahoma Bankers Hall of Fame may be made by any bank employee of an Oklahoma bank. There is no limit on the number of nominees that can be presented to the nominating committee in any given year. Nominees may be either living or deceased.

Nomination forms are available by clicking here and can also be obtained by calling the Association (405/424-5252) or emailing info@oba.com. Anyone who was on the ballot previously but not elected will automatically be included with applications received this year for ballot selection by the Nominating Committee. They don’t need to do anything but are welcome to “update” their application if they’d like. The application and other helpful information are available on our website.

Note: The deadline for receipt of applications is Friday, July 15, 2022.

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Convention dates, location set for 2023!

Just a quick note to mark your calendars as the OBA Convention dates and location have already been set for next year!

The 2023 OBA Convention will be held May 8-10 at the Embassy Suites in Norman.

More details will be available in the coming months, but go ahead and get notes on your calendar today!

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OBA salary compensation survey deadline this week; special pricing continues for OBA calendar

The OBA is partnering with Blanchard Consulting Group to offer the 2022 Salary and Cash Compensation Survey, with specific reporting on Oklahoma banks.

This survey focuses on gathering salary and cash compensation (salary plus annual cash incentive/bonus) data for approximately 25 executive positions and over 150 middle management and staff level positions. This data can be used by human resource professionals to assist in assessing the competitiveness of base salary for most positions in your bank, developing or managing salary grades, and making salary increase decisions.

To complete the survey, or to find out more information, please download the form by clicking here. If you would like to pre-order your copy of the survey or if you have any survey questions, please contact Laura Roth at surveys@blanchardc.com or 612-886-1225. The deadline for completing the survey is Friday, July 15!

Speaking of deadlines, the last day to receive special pricing for the 2023 Oklahoma Views & Vistas Calendar is the end of this month. Click here (.pdf) for more information and an order form.

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OBA education corner …

Man, it’s a hot one.

Like seven inches from the midday sun.

OK, wait a second … before the temperature outside causes me to digress into full Santana and Rob Thomas mode, let’s get you guys the upcoming education events.

And remember: give me your heart, make it real or else forget about it.

  • Federal Benefit Payments Garnishment Requirement, July 14, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on accounts receiving federal benefit payments.
  • Social Media Compliance and Best Practices, July 14, webinar — In this session, we will provide best practices for developing your social media strategy and policy. In addition, we will dive into the compliance requirements, including Truth-in-Savings, Reg Z and UDAAP.
  • Legal Issues of Checks, July 19, webinar — Having an understanding of endorsements and handling checks is crucial to making sound check cashing decisions. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item.
  • Consumer Collection 101, July 20, webinar — This presentation will discuss the brave new world of consumer collections and how best to navigate the current challenges facing lenders so that they can effectively resolve delinquent and charged off accounts.
  • Best-Ever Compliance Checklists for Consumer Loans, July 20, webinar — These colorful and easy-to-use checklists are designed to chronologically lead lenders and processors through the various lending compliance requirements.
  • What to Do When a Customer Dies, July 21, webinar — This webinar focuses on the deposit and loan issues that arise when a customer dies.
  • CRE Appraisals: Regulations and the Review Process, July 25, webinar — This session will cover the key issues from the December 2010 Interagency Appraisal and Evaluation Guidelines, the October 2018 Frequently Asked Questions on the Appraisal Regulations, and the Interagency Appraisal and Evaluation Guidelines. You will get tips for integrating them into your existing policies, and ideas for meeting new/recent requirements for screening appraisals for USPAP compliance.
  • Loan Fraud, July 26, webinar — Learn how to identify fraudulent loan applications and supporting documents. Learn the different types of loan fraud that may be attempted against your financial institution.
  • FLSA Beyond the Basics: Surprising Issues That Get Employers in Trouble, July 27, webinar — Learn the current HOT TOPICS and avoid problem practices and pitfalls. Plus, learn how to protect your organization and yourself from liability and how to navigate the swamp.
  • Handling Difficult People, July 27, webinar — Everyone has been experiencing increasing anger from the public after the pandemic. Staff at every level of your financial institution needs to know how to defuse hostile people.

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