Week of June 5

In This Issue…

White House eyeing ‘appraisal bias’ in real estate valuations

Six federal regulatory agencies last week requested public comment on a proposed rule to regulate the credibility of algorithmic models used in real estate valuations, which is part of a larger effort by the Biden administration to address alleged bias in the appraisal process.

The rule would require institutions that engage in covered transactions to adopt policies, practices, procedures and control systems to ensure that automated valuation models, or AVMs, adhere to quality control standards designed to ensure the credibility and integrity of valuations, according to a joint statement.

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ABA seeks nominations for 2023 Emerging Leaders Awards

The ABA Emerging Leader Awards identify and recognize the next generation of bank leaders who are committed to the highest standards of achievement and service to the industry and their communities.

Developing and guiding future leaders is critical to our industry’s success, as today’s emerging leaders are tomorrow’s decision-makers. If you or someone you know exhibits banking leadership characteristics including steadfast dedication, inventiveness and integrity, send in a nomination!

Entry period ends June 30. Click here for more information.

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2023 OBA Directory of Banks available for purchase

The 2023 OBA Directory of Banks is now ready for purchase!

This essential reference includes financial data, important information about all Oklahoma banks, savings and loans, savings banks and holding companies, key personnel by function and title, answers to rules and regulations, legislators, state and national agencies, courthouses, fast-find inde, and much more!

Each Directory is $40 per copy for OBA-member bankers, and $60 for non-members. Price breaks are available for larger bulk buys. Click here for more information!

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Welcome, new strategic members

The OBA extends a welcome ot our newest strategic members:

Keefe, Bruyette & Woods
KBW is a full-service investment bank focused on the community banking industry. It advises community banks on a variety of strategic alternatives including M&A and capital raising.

Contact: Stephen Gunlock
One Montgomery St. Ste, 3700
San Francisco, CA 94104
Phone: (415) 591-5023
Email: gunlocks@kbw.com
Website: www.kbw.com

Goodwin Lewis, P.L.L.C
The firm is known for its tenacity, experience and successful representation in the areas of banking, real estate, mergers and acquisitions, engineering and construction, trusts and energy. It provides innovative and cost-effective counsel to financial institutions, including litigation, receiverships, commercial loan documentation and creditor-side bankruptcy representation.

Contact: Kyle W. Goodwin or Billy Lewis
420 NW 6th Street, 2nd Floor
Oklahoma City, OK 73102
Phone: (405) 900-5700
Email: kgoodwin@goodwinlewis.com or blewis@goodwinlewis.com
Website: goodwinlewis.com

Sawyers & Jacobs, LLC
Sawyers & Jacobs LLC is a leader in bank consulting, focused on innovation, risk management, cybersecurity and technology through four brands.

Contact: Jason Corder
5001 W Founders Way
Rogers, AR 72758
Phone: (901) 828-1942
Email: jcorder@sawyersjacobs.com
Website: sawyersjacobs.com

Gungoll, Jackson, Box & Devoll, P.C.
Gungoll, Jackson, Box & Devoll, P.C., provides a full range of legal services to financial institutions, including, title opinions, foreclosures, commercial loan documentation, debt collection, trust administration and litigation.

Contact: Erin J. Rooney or Vance T. Nye
101 Park Ave, Suite 1400
Oklahoma City, OK 73102
Phone: (580) 249-5469
Email: Rooney@GungollJackson.com
Email: Nye@GungollJackson.com
Website: https://www.gungolljackson.com/

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OBA education corner …

We read somewhere earlier today that the last below-60-degree night is behind most of us in the state, likely until September. While closing your windows and preparing for the sweet smell of air conditioner 24 hours a day, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Alert! FinCEN Issues Initial Beneficial Ownership Information Reporting Guidance, June 13, webinar — Financial Crimes Enforcement Network published its first set of guidance materials to aid the public, and in particular the small business community, in understanding upcoming beneficial ownership information reporting requirements taking effect on Jan. 1, 2024.
  • 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.
  • TRID Hot Spots, June 20, webinar — This webinar will look at hot spot areas related to TRID. Learn what examiners are citing as well as other common errors in plain English.
  • SARs: Line by Line, June 21, webinar — In this webinar, you will gain expert insights into cybercrimes, FinCEN notes and narrative instructions, along with actionable tips to streamline your filings and ensure compliance.
  • Vendor Management – Agencies’ Expectations, June 22, webinar — Stay ahead of the game in the new era of Fintech! Join this webinar and learn how to navigate the changing landscape of vendor management and mitigate risks associated with third-party relationships.
  • Prepping for the Proposed Interagency CRA Rule, June 22, webinar — On May 5, 2022, after several false starts over recent years, the agencies issued a proposal to strengthen and modernize regulations implementing the CRA. The proposal features several significant revisions and will likely become final in 2023.

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