In This Issue…
- From Adrian’s desk …
- Oklahoma County moves to online sheriff’s sales
- Agencies pinpoint 2024 regulatory thresholds
- OBA TikTok Time …
- Oklahoma Bankers Hall of Fame fifth class set for induction
- 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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I’m in Charleston, South Carolina, this week for a couple of events. First on the docket is a board meeting for the Graduate School of Banking at Madison, Wisconsin, of which I am a member. Afterward, Charleston will also play host to the ABA’s State Executives Workshop. It’s a busy week of meetings, but being in this beautiful and historic city certainly makes it much more enjoyable!
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An interesting note I saw while perusing the news last week was where Federal Reserve Governor Michelle Bowman shared her thoughts on how lowering debit card fees would actually HARM low-income customers. Bowman was in attendance at a conference with the New York Bankers Association on Thursday and she said lowering the cap would raise costs for consumers with no guarantee merchants would lower their prices in return for lower fees.
She also said a cap would affect community banks, not just the larger financial institutions.
You can click here to read more of her comments at the conference.
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I stormed into Jeremy Cowen’s office on Monday morning and flatly asked why I should continue to care about Nebraska football after an embarrassing loss to Maryland this past weekend. Jeremy, a former sportswriter, currently writes a weekly column on college football for the online NonDoc publication, and is also leading our in-office college football pick ’em pool, so if anyone would have a more analytical view on my Cornhuskers, I begrudgingly admit it might be him.
He simply looked at me and shrugged – incredibly unhelpfully.
So, instead of docking his pay in a fit of spite, I calmed down and realized I’m simply at the “anger” and “bargaining” stages of grief. Maybe, just maybe, the ‘Huskers will pull a rabbit out of their collective hats against Wisconsin or Iowa in the next two weeks to become bowl eligible!
Oklahoma County moves to online sheriff’s sales
As of Nov. 14, Oklahoma County sheriff’s auctions of foreclosed properties will take place online only. Senate Bill 976, signed into law by Gov. Stitt in May 2022, gave Oklahoma sheriffs “the option, but not the mandate, to conduct foreclosure auctions online.”
The Oklahoma County sheriff’s office moved to the online platform to maximize efficiency and open participation up to more bidders.
Click here to read more in The Oklahoman.
Agencies pinpoint 2024 regulatory thresholds
The Consumer Financial Protection Bureau, Federal Reserve and Office of the Comptroller of the Currency announced on Monday the 2024 threshold for whether higher-priced mortgage loans are subject to special appraisal requirements will increase from $31,000 to $32,400.
At the same time, the Fed and CFPB announced an increase in the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2024 are subject to certain Regulation Z (truth in lending) and Regulation M (consumer leasing) requirements. Both regulations will apply to consumer credit transactions and consumer leases of $69,500 or less, up from the current threshold of $66,400.
OBA TikTok Time …
Welcome to the continuation of our new, semi-regular feature in the OBA Update: OBA TikTok Time!
The OBA created a TikTok account to feature fun, entertaining little video segments that feature our bankers and those who work with them. No, you don’t have a TikTok account to view these short videos as you can navigate directly there just by using the link we provide here in the OBA Update. For those concerned about security via TikTok, you can also easily view the videos through our Instagram account.
We’ll feature our most recent TikToks each week in the TikTok Time of the OBA Update. This week, we stopped in at the opening day of the 2023 OBA Operations School on Monday to ask “Which celebrities’ closet would you most like to raid?”
Oklahoma Bankers Hall of Fame fifth class set for induction
The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 7 in Oklahoma City.
The Oklahoma Bankers Hall of Fame Luncheon & Induction Ceremony honoring Nevyle Cable, Jim Hamby, the late Harry Leonard and Ted McGuire will recognize the fifth group to be inducted into the Hall of Fame, as voted on by a panel of their banking industry peers.
The ceremony will be held over lunch at 11:30 a.m. on Dec. 7 at the Oklahoma History Center, which is located at 800 Nazih Zuhdi Dr., in Oklahoma City.
If you are interested in attending the event, please RSVP by Nov. 30 to the OBA’s Joan Anderson (firstname.lastname@example.org) at 405-424-5252. The cost for an individual seat is $75 and $700 for a table of 10.
Additionally, contact Thi Pham (405-424-5252, email@example.com) for sponsorship opportunities.
OBA education corner …
Well, winter, we’re waiting! OK, so it’s not technically winter yet, but we’ve barely had a frost. The mosquitos are still out, for goodness sakes! Oh well, while looking longingly at your winter clothes, wondering when they’ll be worn, take the time to check out our upcoming continuing education opportunities!
- Outsourced Third-Party Relationship Management: Developing a Compliant Program, Nov. 21, webinar — This comprehensive guidance is intended to assist in identifying and managing risks associated with third-party relationships and in complying with applicable laws and regulations.
- Wire Transfers: Staying Compliant and Avoiding Fraud Loss, Nov. 28, webinar — Recent successful cyberattacks on international wire transfers have raised the bar on examiners’ expectations for your security system and risk monitoring of international and domestic wire transfers. Are you prepared?
- Assessing Your Commercial Borrower’s Insurance Coverage, Nov. 29, webinar — The commercial loan documents checklist typically lists “evidence of insurance.” Don’t check that off your list without making sure you have reviewed the Certificate of Insurance and assessed your borrower’s coverage.
- Consumer Real Estate Loans, Nov. 29, webinar — Take this opportunity to deepen your knowledge of the current compliance rules and take your loan processing skills to the next level.
- Being Strategic With Base Compensation for Non-Executive Positions, Nov. 30, webinar — This webinar focuses on performance-based compensation approaches that community and regional banks should consider to attract and motivate staff level employees and officers.
Finally, just a quick note to also mark your calendars since the OBA Convention and OBA Senior Management dates and location have already been set for next year! The 2024 OBA Convention will be held May 13-15 at the Skirvin Hilton in Oklahoma City. Meanwhile, the 2024 OBA Senior Management Conference will be held on April 7-9 at the Waldorf Astoria in Las Vegas. More details will be available in the coming months, but go ahead and get those notes on your calendar today!