Wednesday, July 24, 2024

Week of May 29

In This Issue…

Annual Washington Visit set for Oklahoma bankers

The OBA’s Annual Washington Visit has been scheduled for Sept. 24-26 and the hotel will be The Mayflower Hotel.

We challenge you to join the “Race to 100.” We’re striving for 100 bankers in D.C. for the 2023 OBA Washington Visit. We are still finalizing the exact times but know we will meet with the following: ABA, Federal Reserve, FinCEN, Consumer Financial Protection Bureau, FDIC, OCC, Treasury and the Oklahoma delegation.

Registration information should be hitting your bank shortly, but you can also download the registration and information form, and get more info on the hotel, by clicking here (.pdf). Click here to access the hotel reservation link.

If you have any questions, contact Megan McGuire at the OBA.

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OBA co-hosting fraud prevention conference

The OBA is supporting a great training opportunity (.pdf) and our own Elaine Dodd will be presenting it along with the FBI and Department of Justice in the first session.  You can share this info with your customers and fellow bankers and together we can work to stop some of this multi-billion dollar victimization affecting our citizens.

Participation is available both in-person as well as online, and while older adults are our target market, there is no age requirement to attend.  You can sign up for as many of the programs as desired. Each will be great and will build on the others, but there’s no commitment to attending them all.

Tara Hardin, TRIAD coordinator with the Oklahoma County Sheriff’s Office, is coordinating this event at the request of FBI and our federal partners. They are needing lunch sponsors and hope some of our banks will agree to support this great event. If any of our bankers are interested in a full or partial sponsorship for one of the days’ lunches, please give Tara a call or email her.  They are happy to include the business name/logo at the event and give credit where credit is due.

If you have any questions please call Tara at the number on the flyer (.pdf) or call, text or email Elaine. Hope to see you and/or your customers June 23!

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OCC revises bank enforcement manual, details actions for banks with ‘persistent weaknesses’

The OCC last last week released a revised policies and procedures manual detailing actions OCC examiners may take against banks with “persistent weaknesses.”

The manual’s Appendix C focuses on larger and more complex institutions under OCC supervision, though the agency noted that “it may apply this framework, including the restrictions discussed …  to any bank.”

The OCC said that “persistent weaknesses” may include “composite or management component ratings that are ‘3’ or worse, or three or more weak or insufficient quality of risk management assessments, for more than three years; failure by the bank to adopt, implement, and adhere to all the corrective actions required by a formal enforcement action in a timely manner; or multiple enforcement actions against the bank executed or outstanding during a three-year period.”

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OBA education corner …

Memorial Day is behind us, the summer months are in front of us, the world keeps spinning and Billy Joel keeps protesting we didn’t start the fire. While contemplating all of this, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Understanding the Role of the Notary Public, June 6, webinar — Help your team know their responsibilities, plus learn basic laws, liability and reviews of various notarial acts.
  • 1071 small Business Data Collection and Submission: Deep Dive and Operational Impacts, June 6, webinar — The CFPB has (finally) issued its long-awaited final rule on small business lending data collection, which will require lenders to collect and submit to the CFPB data around small business loan applications by June 1 of each year.
  • Bi-monthly Compliance Briefing, June 7, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
  • Role of Board Secretary, June 8, webinar — The board secretary’s dynamic role is critical. It involves and affects administration of corporate governance, director liability, communication with directors and management, oversight of policy/procedure reviews, obtaining and maintaining annual documentation, compliance issues and more.
  • All In with ACH All-Day Streaming, June 13, webinar — We’ll make sure that as either a receiving depository financial institution or an originating depository financial institution, you’ll know your responsibilities regarding ACH.
  • The Top 10 IT Audit Recommendations from 2022, June 14, webinar — Documenting an Information Security Program is an important step in protecting your organization from cyber threats, but it’s only as good as controls that are actually implemented.
  • Opening Deposit Accounts Online, June 14, webinar — During this program, we will look at three groups of accounts – consumer, business and specialty accounts. You won’t want to miss this chance to learn how to expand or begin an online account opening program.
  • Treasury Management: A Powerful Tool to Increase Deposits and Fee Income, June 15, webinar — This webinar will bring invaluable insight into conducting risk assessments, boosting core deposits and maximizing your marketing efforts.

Also, thinking about enrolling in the  Graduate School of Banking at Madison, Wisconsin? If so, would a scholarship help with your decision? The school offers several scholarships for first-year students. This year’s program runs July 30-Aug. 11. Contact Janis Reeser or Jason Hensley, SVP/COO at City National Bank in Lawton. Jason serves as the Oklahoma representative on the board and can answer specific school-related questions.

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