Week of June 26

In This Issue…

Agencies release list of distressed, underserved non-metropolitan middle-income geographies

Federal bank regulatory agencies last week made available the 2023 list of distressed or underserved non-metropolitan middle-income geographies, which includes a number of Oklahoma counties.

The Community Reinvestment Act encourages banks to help meet the credit needs of their local communities, including low- and moderate- income communities, in a safe and sound manner. Distressed or underserved non-metropolitan middle-income geographies are census tracts where revitalization or stabilization activities are eligible to receive CRA consideration. The designations reflect local economic conditions, including unemployment, poverty and population changes. Previous years’ lists and criteria for designating these areas are available here.

Revitalization or stabilization activities in these geographies are eligible to receive CRA consideration under the community development definition for 12 months after publication of the current list. As with past lists, the agencies apply a one-year lag period for geographies that were included in 2022 but are no longer designated as distressed or underserved in the current list.

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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 indexes 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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OBA education corner …

It’s officially summer! When we think of summer, we think of good music. Whether you like summer-themed 1980s songs, groovin’ summer hits by future movie stars (and award-show disruption instigators), yacht rock classics or you really remember The Karate Kid soundtrack, summer is made for tie-in songs. While you absorb this selection of sunny hits, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • Preparing for Your IT Examination, July 6, webinar — There is a big misconception that an IT examination is a technical security assessment focused solely on computer systems, the network, and logical controls.
  • Understanding Qualified Mortgages, July 10, webinar — Even though qualified mortgages have been around for several years, bankers commonly still don’t have a clear (or any) understanding of these loans.]
  • You’ve Been Served: Best Practices in Processing Subpoenas, Garnishments and IRS Tax Levies, July 11, webinar — This webinar will provide attendees with the best practices and red flags for dealing with the various legal documents served upon financial institutions.
  • HMDA A-Z All-Day Streaming, July 12, webinar — HMDA compliance is tough! With all the data you are required to collect and report, there are bound to be mistakes.
  • Utilizing Technology for the Compliance Officer, July 12, webinar — Utilizing various tools and features within readily available technology are a must for the compliance officer.
  • Signature Card Danger Zones, July 13, webinar — What would happen if you were called upon to give a deposition in court on a signature card for an account you opened 13 years ago at an institution for which you no longer worked?
  • Sleeper Highlight: Safe Deposit Boxes, July 13, webinar — We all know safe deposit boxes are an essential part of any financial institution, but did you know that neglecting their proper maintenance and security measures can lead to compliance and legal issues?
  • Privacy and Information Security – Critical Rules for Bankers, July 17, webinar — Customers are concerned about the privacy of their financial and personal information, and financial institution are worried about how to keep all this information safe from intrusions and outright thefts. But what are the legal and regulatory requirements?
  • The Right of Setoff: What Bankers Need to Know, July 18, webinar — The Right of Setoff is a complicated, but very effective, tool for collecting debts owed to a bank.
  • Stakeholder Capitalism: Implications for Bankers, July 18, webinar — This webinar will provide bankers an understanding of how to incorporate social, environmental and governance considerations into business planning and corporate reporting practices.
  • BSA/AML & Virtual Currency, July 19, webinar — The use of crypto and/or other virtual currencies (i.e., Bitcoin, etc.) has become more and more mainstream within the banking industry but there are significant risks that cannot be ignored.
  • Section 1071 Final Rule: What you Need to Know Now, Aug. 1, Oklahoma City — This seminar, delves into the final rule, how it differs from the proposed requirements, and what your institution needs to know to ease the regulatory burden and make the implementation process as smooth as possible.
  • 2023 OBA Compliance School, Aug. 21-25, Oklahoma City — The school is designed to provide an extensive body of knowledge and information on consumer compliance that can contribute to the development of compliance officers and to their associated functions, both of which have become an integral and essential part of our evolutionary banking industry.

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