Wednesday, February 21, 2024

Week of Feb. 5

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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The state legislature is back in session, opening with Gov. Stitt’s State of the State address on Monday. You can read more in my upcoming column in the Oklahoma Banker newspaper about the governor’s priorities this session, as well as what to look for from the legislature in the coming months. It’s always an exciting time, for better or worse, and your OBA government relations team is ready to dive in!

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I was heartened to see the continued job growth in the country as the most recent report from the U.S. Labor Department showed the unemployment rate sitting at just 3.7% and jobs increasing by a whopping 353,000 in January.

I did think it was interesting to note that many of the jobs being creating are concentrated in the “catch-up” industries. These industries were the ones hit hardest by the COVID-19 pandemic: leisure and hospitality, government, and health care. It’s good to see even those areas hardest hit are starting to rebound.

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Finally, I was saddened to awaken this morning to hear about the death of Toby Keith. Like many around my age, Toby’s music was the soundtrack of my high school and college years, and continued to be a mainstay for decades afterward. Let’s pour out a red solo cup of a favorite beverage tonight in memory of the Moore native.

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Trade associations file suit against bank regulators for exceeding statutory authority in CRA rules

The American Bankers Association, the U.S. Chamber of Commerce, Independent Community Bankers of America, Texas Bankers Association, Independent Bankers Association of Texas, Amarillo Chamber of Commerce and Longview Chamber of Commerce filed a lawsuit on Monday in the Northern District of Texas against the Federal Reserve, FDIC and OCC for exceeding their statutory authority and acting arbitrarily and capriciously with their recent amendments to the Community Reinvestment Act rules.

The lawsuit asks the court to vacate the Final Rules, and the groups will also seek a preliminary injunction pausing the new rules while the court decides the merits of the case.

The complaint explains how the new rules will limit future bank lending, and identifies how the regulatory agencies exceeded their statutory authority in violation of the Administrative Procedure Act by:

  • Evaluating bank lending well beyond banks’ deposit-taking footprint, as required by CRA. The Final Rules will evaluate bank lending across the entire country, eliminating the statutory focus on a bank’s lending in its “local community.”
  • Evaluating some institutions’ records of providing deposit products and services to low- and -moderate-income consumers even though the CRA only authorizes regulators to assess a bank’s record of meeting the credit needs of its local communities.

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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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Participate in OBA Intern Program!

One OBA program to be aware of is the OBA Intern Program.

The Intern Program will be active in 2023 and we’re looking for participating banks! For more information on this IMPORTANT program – important not only to aspiring students, but also to participating banks – Contact the OBA education department at (405) 424-5252 or click here for more information!

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GSB scholarships available for 2024

Several scholarships are now available to bankers from OBA-member banks for various graduate schools of banking. Applications (other than for GSB-Colorado) should be submitted to the OBA’s Janis Reeser by email (janis@oba.com), regular mail (643 N.E. 41st St., OKC, 73105) or fax (405-424-4518).

Click on the links below for more specific information about each scholarship:

*SWGSB scholarship may be awarded for the second and third year as long as the recipient remains in the top 10% of the class. The decision is at the discretion of the school administration.

**The scholarship is awarded to the bank. Applications can be submitted via the .PDF form above or through SurveyMonkey: 2024 Bolder Banking Scholarship Nomination Form.

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OBA education corner …

It’s a darn shame to have to get up in the morning to hear about a country music legend leaving us, particularly one such a part of our state. As Adrian mentioned above, even if you’re not a huge fan of Toby Keith’s music, take a few minutes to check out a couple of his signature songs. And, as always, take a little the time to check out our upcoming continuing education opportunities.

  • 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.
  • The Right of Setoff: What Bankers Need To Know, Feb. 15, webinar — The right of setoff is a complicated, but very effective, tool for collecting debts owed to a bank. Learn the best practices and dangers that can arise when using this process.
  • Let’s Talk Testing for UDAAP, Feb. 15, webinar — The Dodd-Frank Act makes it unlawful for any provider of consumer financial products or services to engage in any unfair, deceptive or abusive acts or practices. While this is not new news, it is critical that your institution conducts testing across its product lines and services to ensure UDAAP issues are not quietly lurking!
  • Overdrafts – Compliance and Risk Management Expectations, Feb. 15, webinar — Join us for a crucial and timely discussion on the ever-changing landscape of overdraft programs. Discover the latest regulatory expectations and how financial institutions are adapting.
  • Handling Legal Documents – POAs, Trusts, Estates and Guardianships, Feb. 20, webinar — Do you have too much risk? Are court orders, power of attorney and other documents putting your organization at risk for non-compliance? Learn how your procedures may be exposing your institution to risk on these special accounts.
  • Basic Bankruptcy for Bankers, Feb. 21, webinar — Every banker should have a fundamental understanding of the U.S. Bankruptcy Code and your bank’s rights and obligations under this code.
  • 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.
  • The Fair Credit Reporting Act and Related Issues, Feb. 23, webinar — Learn what these tripwires are and prepare your institution for inquiries from the agencies as well as consumers.
  • Retail Management Workshop, March 13-14, Oklahoma City — This two-day, interactive workshop designed to provide a complete overview of management and leadership principles for retail managers serving in all roles of the retail banking line of business for the bank.

Also, the OBA is proud to promote the recognition of bankers who have devoted 50 or more years of service to the banking industry. All eligible nominees will be honored at the 2022 OBA Convention on May 18-20 at the Omni in Oklahoma City. Click here to download a nomination form. If you have any questions, please contact Janis Reeser at 405-424-5252 or janis@oba.com.

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