Wednesday, May 22, 2024

Week of July 10

In This Issue…

Oklahoma Bankers Hall of Fame accepting nominations for 2023; election procedure update

The Oklahoma Bankers Hall of Fame is now accepting nominations for the upcoming 2023 class; additionally, the process of selecting inductees has been updated.

First, for those interested in nominating a banker, here are some downloadable forms linked below – please return all nominations to Adrian Beverage (adrian@oba.com):

Second, as mentioned, there is a new process for selecting the inductees to each class. After discussion with leadership at the Oklahoma Hall of Fame about its processes, and learning about other methods from other organizations, the induction procedure for the Oklahoma Bankers Hall of Fame has been updated.

After all nominations have been received by OBA President and CEO Adrian Beverage, he will forward those nominees to the OBA chair (currently, Bryan Cain), who will convene a committee of 11 individuals in September to select the inductees. These 11 individuals will be made up of the OBA’s Executive Committee, who will join a banker selected by the OBA chair from each of the OBA’s six geographical groups, as well as a member of the OBA Emerging Leaders Division. The specific committee members will be completely anonymous to everyone outside of the current OBA chair.

These committee members will select the final inductees from the group of nominees given. They will also discuss any possible posthumous inductees who may have not been nominated.

Once the inductees have been selected, the OBA chair will inform Beverage and notification and preparations will be made by the OBA staff for the induction ceremony, which will be held this year on Dec. 7 at the Oklahoma History Center in Oklahoma City.

Following the 2023 selections, the current selection committee will disband and a new committee will be picked the following year by the next OBA chair. Aside from the OBA chair and executive committee, the selection committee will remain anonymous with only the other committee members from that specific year knowing their identities.

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CFPB publishes FAQ on Section 1071 compliance

The Consumer Financial Protection Bureau has published on its website a list of frequently asked questions about compliance with its recently finalized Section 1071 small business lending rule.

The document covers topics such as which institutions are covered by the rule and what transactions they must count when determining whether they satisfy the origination threshold.

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OBA Emerging Leaders Academy accepting applications

Take note the OBA 2023-24 Emerging Leaders Academy is currently accepting applications.

We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through non-traditional methods.

The OBA extends an invitation to any employee of a bank that is a member of the OBA to apply. A panel of bankers will review the applicants and choose those accepted into the Academy (maximum 30 bankers). Participants must attend all sessions to successfully graduate from the program.

There are six sessions to the Academy: Nov. 2, Dec. 7, Jan. 26, Feb. 28, March 28, April 26. Graduation will take place in May 2024 at the OBA Annual Convention.

Click here to apply! Also, for more information, please contact Megan McGuire at (405) 424-5252 or megan@oba.com.

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OBA education corner …

It simply won’t stop raining (at least in most parts of Oklahoma)! The grass is growing and the air is thick with humidity. Now, it may not be a purple rain, but it does seem to keep coming again and again. At the very least, today isn’t Monday, so that helps a tad. Then again, rainy days always makes some of us think of old, obscure Garth Brooks songs. While you soak up all these rainy-day selections, take a little time to prepare for upcoming continuing education opportunities available through the OBA:

  • 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.
  • Robbery Basics & Beyond, July 25, webinar — This session goes beyond the often lackluster traditional robbery training to a more engaging and dynamic program designed to illustrate the importance of preparing for a robbery in our branch.
  • Executive Total Compensation – Strategies to Motivate and Incent, July 27, webinar — The session provides an educational overview of various compensation elements, focusing on current trends/best practices within community and regional banks.
  • Risk (and Rewards) of Artificial Intelligence in Banking, July 31, webinar — In this webinar we’ll discuss these concerns and risks, so that you can properly monitor and establish controls for these technologies so you can best manage regulatory expectations as you succeed.
  • 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 Audit Seminar, Aug. 17, Oklahoma City — The seminar will focus on the key aspects of a strong internal audit program, internal audit in a modern financial institution, and current events in the banking industry.
  • 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.
  • 2023 Basic New Accounts Seminars, Aug. 29-Tulsa; Aug. 30-Oklahoma City — Unfortunately, new account personnel are too often trained “on the job,” which results in an environment of potential vulnerability and unnecessary losses for the bank.

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