Saturday, April 13, 2024

Week of Sept. 18

In This Issue…

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 …

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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.

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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.

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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!

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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:

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.

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