Saturday, June 15, 2024

Week of Sept. 26

In This Issue…

OBA heads to annual Washington Visit

A group of bankers and OBA staffers descended on Washington, D.C. this week for the the annual OBA Washington Visit.

While there, the OBA representative will meet with various regulatory agencies, elected officials and other movers-and-shakers on Capitol Hill that directly affect the banking industry. Today, for example, the OBA met with officials from the Federal Reserve, the Consumer Financial Protection Bureau.

Later during the visit, the group will have meetings with the Oklahoma delegation to the Senate and U.S. House of Representatives, including Sens. Inhofe and Lankford, and Reps. Lucas, Hern, Bice and Cole.

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CFPB looks for feedback on mortgage, refinancing products

The Consumer Financial Protection Bureau last week issued a request for information asking for input on ways to improve mortgage refinances for homeowners who would benefit from refinancing, especially for borrowers with smaller loan balances.

The agency also wants feedback on ways to support automatic short-term and long-term loss mitigation assistance for homeowners who experience financial disruptions.

The CFPB plans to use the information as it considers steps to support household financial stability and address refinance market gaps. Mortgage refinancing can be harder to access for borrowers with smaller loan balances, according to the CFPB, which also noted that Black and Hispanic borrowers, who on average have smaller loans, have not participated in recent refinance booms at the same rate as white borrowers.

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OBA education corner …

Maybe, JUST maybe, we’ve dropped below 90 degrees to stay. Or, this could simply be a island of respite in an ocean of blast-furnace heat. Either way, until we create weather-control machines, might as well just relax and control what we can control … which includes continuing education opportunities if you’re a banker! Check out what’s through the OBA, including the following:

  • Controlling the Risks of Power of Attorney Documents, Oct. 3, webinar — This webinar will provide attendees with the best practices and pitfalls of dealing with power of attorney documents.
  • CECL and the Call Report, Oct. 4, webinar — Participants will walk through the changes in terminology that become effective upon adoption of the Current and Expected Credit Losses (CECL) methodology for recording the estimated and expected losses on not only the loan portfolio, but any asset carried at amortized cost, to include debt securities held as available-for-sale and held-to-maturity.
  • Top 10 Most Frequent Flood Issues, Oct. 5, webinar — This two-hour webinar explains the top ten issues financial institutions face regarding flood insurance.
  • Understanding Revocable and Irrevocable Trust Documents, Oct. 6, webinar — This webinar will provide attendees information on doing business with trusts, including the best practices in establishing deposit account and loan relationships.
  • Performing Your ACH Audit and Risk Assessment Tips, Oct. 11, webinar — Join us to learn the difference between an ACH assessment and an audit, what you’re looking for when completing both, and how to avoid common mistakes and violations.
  • Marketing and Advertising Compliance – 2-Part Series, Oct. 12 & 25, webinar — This is a two-part webinar series that covers the comprehensive landscape of marketing and advertising compliance requirements. In these webinars we’ll provide many examples of how the rules apply as well as recommendations on how to deal with all the requirements.
  • 2022 Fair Lending Issues, Oct. 13, Oklahoma City — This seminar is designed to make attendees aware of court rulings, announcements from the administration and federal agencies, and recent enforcement actions.
  • Bi-Monthly Compliance Briefing – October 2022, Oct. 14, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
  • 2022 Annual Advanced BSA/AML Compliance Update, Oct. 25-Tulsa; Oct. 26-Oklahoma City — Be sure and register for this timely, one-day AML/BSA program which provides current trends and tools for today’s BSA Officers and BSA team members. This program also assists financial institutions in meeting the annual training requirements by the BSA regulations.
  • 2022 IRA Basic and Advanced Issues, Basics: Nov. 1-Tulsa, Nov. 3-Oklahoma City; Advanced: Nov. 2-Tulsa; Nov. 4-Oklahoma CityWhat an IRA merry-go-round 2020 was and it’s still spinning into 2021 and 2022!
  • 2022 OBA Operations School, Nov. 14-18, Oklahoma City — The OBA’s Operations School is designed to prepare junior-level officers to mid-level operations managers to manage effectively and efficiently an operations function within a bank.

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