Wednesday, February 21, 2024

Week of Jan. 22

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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I hope everyone survived the weather. We closed the OBA office on Monday as many employees mentioned they couldn’t even get out of the driveways or neighborhoods safely without sliding all over the place. We try to err on the side of caution, but we hope nobody was inconvenienced by us being closed. Whether we are closed or open, you are always welcome to email our staff at any time!

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Much discussion has been made at the national level about the Biden Administration’s plan to cut overdraft fees at bigger banks. The Consumer Financial Protection Agency proposed a new set of rules last week that would slash the fees banks charge customers for withdrawing more than what is available in their account. We’re obviously against such rules as they tend to do more harm than good, and as it’s currently constructed, would affect just a few of our member banks, but we’ll continue to keep an eye on it going forward.

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I just want to say, I will NOT be entering the transfer portal any time soon … unlike so many college football players around the country. It’s exhausting to try to keep up with all the movement. you truly CAN’T tell the players without a scorecard any more!

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Regulators: Banks responsible for law-abiding artificial intelligence use

Any new technology utilized by a financial institution – including artificial intelligence – must be done so in a way that complies with existing law, officials from four federal agencies said last week.

Speaking at a symposium on responsible AI use hosted by the National Fair Housing Alliance, officials from the Federal Reserve, FDIC, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau stressed banks are ultimately responsible for how the technology is deployed, even if they are contracting with third parties to provide AI-powered products and services. They also said their agencies already have the statutory authority to regulate the emerging technology.

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OBA updating employee handbook – assistance from banks welcome

The OBA is in the process of updating its employee handbook, with personnel policies. We’d appreciate if any bankers would share their own institution’s book/policies with us so we can make sure we mirror our member institutions in ways we can, and also make sure we aren’t missing any good ideas! Drop Lea Ann Jackson an email here in our office if you can help out! Thanks in advance!

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OBA Emerging Leaders to host happy hour

Join your banking peers for a happy hour from 4-6 p.m. on Friday, Jan. 26, at Chicken N Pickle, located at 8400 N. Oklahoma Ave in Oklahoma City.

For more information, contact the OBA’s Megan McGuire at megan@oba.com or 405-424-5252.

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Bankers at state capitol: Register for OBA’s 2024 Contact Banker Program

We have set the dates for the 2024 Contact Banker Program. Click here to find a sign-up form with the dates for this year’s program. Please select dates that work best for you and return you form to megan@oba.com. Once we have the groups finalized, we will send an email confirmation for your date.

On the date you select, there will be a short briefing before we start walking the halls of the Capitol. Please know, we will stay together as a group the entire morning. We will do our best to have you spend a few minutes with both your state senator and state representative to either start a new relationship or strengthen one already in place. We won’t ask you to discuss current legislation – we want you to just chat with your members about issues facing your community or other pressing matters. Depending on what week you select, we will either sit in on a committee meeting or in the gallery to watch the action on the floor. Once we have finished all of our business at the Capitol, the OBA Government Relations Team will take everyone to lunch to discuss the events of the morning.

Everyone at the Capitol knows bankers are involved in the political process and watching how they vote. All of this success is because of the Contact Banker Program. This program is meant for all employees at the bank. There is no cost to attend other than your time.  Please complete this registration form and send it to megan@oba.com.

Questions? Please contact Megan McGuire (megan@oba.com / 405-424-5252).

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OBA TikTok Time …

Welcome to the continuation of our 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. For this week’s OBA TikTok Time, we’re celebrating our own Elaine Dodd, who is retiring. The OBA got her a gift to celebrate her 20 years with the Association and … well, we’ll just let Elaine let you know what the gift is!

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OBA education corner …

Last night was the first Monday night without football since August. I hope everyone found different ways to fill their time. Over here, we took the time to obsess a bit over a couple of shows we’re watching to take the place of pigskin: one still fairly new, and one a few years old. What are you watching? Between figuring out what show to start binging, take the time to check out our upcoming continuing education opportunities!

  • Intro to Financial Analysis, Jan. 30-Oklahoma City, Jan. 31-Tulsa — This seminar will provide bankers with a thorough understanding of the key elements of the commercial borrower’s cash flow and relate these elements to the requirements of safe and sound loan structure.
  • Garnishments of Federal Benefit Payments: What a Banker Needs to Know, Jan. 31, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.
  • Vendor Management – Agencies’ Expectations, Feb. 1, Oklahoma City — Stay ahead of the game in the new era of fintech! Join this webinar to learn to navigate the changing landscape of vendor management and mitigate risks associated with third-party relationships.
  • Regulation CC for Tellers, Feb. 6, webinar — Get your frontline ready for business with this webinar. Regulation CC is the regulation governing the availability of funds for transaction accounts and holds that financial institutions can place on checks. We will discuss the details and answer all of the questions new tellers will have.
  • NACHA Quarterly Update – February, Feb. 6, webinar — During this webinar, we will discuss the current environment, the recent enhancements to the ACH network and the rules that have been created or amended from NACHA.
  • IRA Reporting to the IRS – Getting it Right!, Feb. 7, webinar  — If we don’t understand the transaction descriptions when we are coding an IRA transaction, there’s a good chance it won’t report correctly to the IRS – sometimes resulting in a letter and bill issued to the customer.
  • Marketing Compliance in 2024: Reeling Them in Without Tripping Up, Feb. 8, webinar — Whether your marketing promotions are digital, print or televised, multiple regulations prescribe what can be said, the elements that should be included, and how they should be displayed.
  • Understanding Commercial Loan Documents, Feb. 8, webinar — In this webinar, you’ll gain insight into the various documents required for loans.
  • Navigating Regulatory Examinations and Dealing with Examiners, Feb. 9, webinar — Dealing with regulatory exams, from safety and soundness and AML/BSA to consumer protection, mortgage, fair lending, CRA and more, can be a daunting and intimidating experience.
  • Call Report Seminar, Feb. 13, Oklahoma City — This one-day seminar focuses on equipping community banks with the fundamental knowledge necessary for completing an accurate and efficient Call Report.
  • Bi-Monthly Compliance Briefing – February, Feb. 14, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
  • 2024 Bank Directors Symposium, Feb. 22, Oklahoma City — This event will provide updates on topics, including the M&A landscape, economic outlook, the roles of the board and management in the credit process, regulatory expectations, identifying characteristics of high-performing banks and critical areas for a bank’s success.
  • 2024 OBA Commercial Lending School, March 3-8, Oklahoma City — This school is an intensive, one-week functional school designed for bankers with a basic understanding of credit and financial analysis. The school will demonstrate how to apply this knowledge in profitable commercial lending situations.

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