In This Issue…
- From Adrian’s desk …
- CFPB sets annual Truth in Lending adjustments
- Treasury Department sets net-zero principles for banks
- 2024 Oklahoma Views & Vistas Calendar order deadline today
- OBA education corner …
From Adrian’s desk …
By Adrian Beverage
OBA President & CEO
Just some random tidbits that might be of interest to our bankers this week!
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It’s been interesting to see the Consumer Financial Protection Bureau lose in the court system lately. First, was the ruling against its update to the UDAAP Exam Manual, then was last week’s injunction on Sec. 1071. Both are tied into the Supreme Court not yet ruling whether the funding structure of the CFPB is constitutional.
It’s something to continue watching going forward.
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Received a “Scam of the Week” tidbit from FIT in my inbox today. It appears cybercriminals are using “.us” top-level domains in phishing attacks. Clicking a link that ends in “.us” that originates from cybercriminals could lead to malware on your computer. Remember: never click a link in an email you weren’t expecting without being sure you know its legit.
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Winner, winner, chicken-dinner, for my Cornhuskers this past weekend … finally. As a great philosopher once said, “The journey of a thousand miles begins with one step.” I’m pretty sure that philosopher was a Nebraskan, but I need to check my notes …
CFPB sets annual Truth in Lending threshold adjustments
The Consumer Financial Protection Bureau has announced the 2024 dollar amounts for the annual threshold adjustments for Regulation Z, which implements the Truth in Lending Act.
For open-end consumer credit plans under TILA, the threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1 in 2024. For Home Ownership and Equity Protection Act loans, the adjusted total loan amount threshold for high-cost mortgages will be $26,092. The adjusted points-and-fees dollar trigger for high-cost mortgages will be $1,305.
Treasury Department set net-zero principles for banks
The Treasury Department today published a set of nine voluntary principles to promote consistency among financial institutions that have made commitments to reduce greenhouse gas emissions through their financing and investment decisions.
The Principles for Net-Zero Financing and Investment focus on so-called “scope 3” emissions that are not directly controlled by a business, such as the emissions generated when a consumer uses a company’s products. More than 100 U.S. firms have made voluntary net-zero emissions commitments, the department said.
2024 Oklahoma Views & Vistas Calendar order deadline today
The 2024 Oklahoma Views & Vista Calendar is ready to be purchased – but you have to order yours by the end of today to meet the final deadline!
The original deadline of Sept. 15 has been extended to the end of today, so take advantage while you still can!
OBA education corner …
It’s pouring rain here at the OBA worldwide headquarters. We hope it’s sunny wherever you are. Here’s some sunny songs to cheer you up as we move through the early parts of autumn! While we you do that, take the time to prepare for upcoming continuing education opportunities available through the OBA:
- Loan Documentation 101: The Basic Secured Loan Package, Sept. 25, webinar — Learn about basic loan documentation principles and practices under Revised Article 9 for collateral.
- Loan Documentation 101: Securing Loans With Business Collateral, Sept. 26, webinar — Learn about specific classifications of collateral and language description requirements for UCC-1s and security agreements.
- TRID: All About Construction Loans, Sept. 26, webinar — This webinar will walk you through the ins and outs of completing the loan estimate and closing disclosure for construction loans, in plain English.
- Understanding Commercial Real Estate Loan Documents, Sept. 27, webinar — Gain an understanding of all sections of required real estate loan documents.
- Handling Deceased Accounts, Sept. 28, webinar — Your account holder passed away and the family is grieving. Yet, in the midst of all the grieving and honoring of a life, the legal and compliance clock is ticking. In most states, checks can be paid for 10 days after the date of death.
- Director Compensation Trends and Compensation Committee Best Practices, Oct. 2, webinar — This webinar will provide market data and best practices information surrounding board compensation and compensation committee responsibilities.
- Controlling The Risks Of Power Of Attorney Documents, Oct. 3, webinar — Are you ready to tackle the complexities of power of attorney documents with confidence? This session will equip you with the knowledge & insights you need to navigate even the most challenging situations with ease.
- 20 Legal Ownerships Of Accounts, Oct. 3, webinar — This program is an A-to-Z on account ownership and documentation.
- Bi-Monthly Compliance Briefing – October, Oct. 4, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
- How To Build A Robust Security Training Program, Oct. 5, webinar — In this FREE course, we’ll discuss the key elements in building a comprehensive and effective security awareness program, and help you start to understand what it means to build a security-first culture.
- 2023 IRA Basic and Advanced Issues, Basics: Nov. 6-Oklahoma City, Nov. 8-Tulsa; Advanced: Nov. 7-Oklahoma City; Nov. 9-Tulsa — Thanks to a flurry of legislative and regulatory developments, IRA providers nationwide are fighting uphill battles as they strive to comply with numerous recent changes to the laws governing IRAs.
- 2023 OBA Operations School, Nov. 13-17, Oklahoma City — This school is designed to prepare junior-level officers to mid-level operations managers to manage effectively and efficiently an operations function within a bank. Students are exposed to numerous concepts that impact your bank’s bottom line.
Additionally, the Bank Trainers Conference 2023 will be held on Oct. 4-6 as an online seminar. The carefully curated lineup of speakers will dive deep into the latest trends, best practices and strategies for creating a dynamic and adaptable training program in the banking sector, and is worth HRCI and SHRM credits.
Finally, the 2023 Rural Economic Outlook Conference, hosted by OSU Extension, will take place on Oct. 11 in Stillwater. This all-day event is a must for those who work closely in the agricultural markets.