Saturday, April 20, 2024

Week of March 11

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-level ACRE bill, legislation introduced by the OBA, passed the full House on Monday and now moves to the Senate. It’s a big win for us and we appreciate all our bankers who reached out and contacted your state representatives about this bill

You can read more about it by clicking here.

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I was reading The Frontier on Monday and came across a really good story about Senate Pro Tem Greg Treat and House Speaker Charles McCall as they looked back on their time leading their respective chambers at the Oklahoma state Capitol. Both have been helpful for the OBA and Oklahoma bankers during their times in office.

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Speaking of good stories, the Wall Street Journal had a nice opinion piece on Sunday taking strong issue against the Consumer Financial Protection Bureau’s misguided late fees rule. It’s a good piece for bankers to print out and show their own legislators. Additionally, the American Bankers Association joined the U.S. Chamber of Commerce in filing a lawsuit challenging the new rule, which you can read more about below.

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The Nebraska women’s basketball team pulled some upsets and made it all the way to the Big 10 Tournament championship game on Sunday. The run ended there, however, at the hands of the incomparable Caitlin Clark, who scored 34 points to edge my Cornhuskers in overtime. Still, taking Iowa to overtime after making it to the championship game portends well for the NCAA Tournament … I hope?

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ABA, U.S. Chamber of Commerce file suit against CFPB’s late fees rule

The American Bankers Association joined the U.S. Chamber of Commerce and four business groups in filing a lawsuit in federal court on Thursday to challenge the Consumer Financial Protection Bureau’s new rule limiting credit card late fees.

The plaintiffs are also seeking a preliminary injunction barring the bureau from implementing the new rule.

Earlier last week, the CFPB issued a final rule to lower the safe harbor dollar amount for late fees to $8, eliminate a higher safe harbor dollar amount for late fees for subsequent violations of the same type, and eliminate the annual inflation adjustment for the safe harbor amount that was provided by the Federal Reserve in 2010. In a lawsuit filed in U.S. District Court for the Northern District of Texas, ABA and the other plaintiffs said the rule not only slashes by 75% the safe harbor amount initially set by the Fed, it also upends more than a decade of regulation.

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Senior Management Conference registration deadline this week!

The Oklahoma Bankers Association 2024 Senior Management Conference is scheduled for April 7-9 at the Waldorf Astoria in Las Vegas, and this is the last week to get registered before the deadline!

One of the key benefits of attendance at the conference will be talking with your peers. Attendees at the OBA 2024 Senior Management Conference will be surrounded by those with similar titles, similar workloads, similar problems and likely solutions to issues that can be just as similar.

If you have any questions or want to get signed up, contact the OBA’s education department at 405-424-5252

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2024 Compensation Trends & Employee Benefits Survey open for bank participation

We are excited to announce the 2024 Compensation Trends & Employee Benefits Survey is now open for participation!

The survey covers recent trends in various compensation programs such as: annual incentive plan design and payouts, equity/mid-term incentive programs, executive benefits, employment/change-in-control agreements, deferred compensation plans/supplemental executive retirement plans, perquisites and employee benefits surrounding 401K plans, medical coverage and more.  This survey will provide valuable market data on a wide variety of compensation-related topics.

Please click here to complete the survey. The deadline to complete the survey is this Friday, March 15.

Survey pricing and subscription option

In 2024, we are introducing a subscription option for our surveys.  You can prepay and purchase both of our 2024 surveys at one time.  This offers a streamlined approach for your convenience and helps with budgeting survey costs for the year.  The 2024 subscription includes both the Compensation Trends & Employee Benefits Survey and the Salary & Cash Compensation Survey (conducted later in the spring/summer).

Subscription option pricing (Includes both surveys)

  • OBA participant: $550.
  • OBA non-participant: $1,000.

Individual survey pricing:

  • 2024 Compensation Trends & Employee Benefits Survey: $200 (participant) / $350 (non-participant).
  • 2024 Salary & Cash Compensation Survey: $350 (participant) / $650 (non-participant).

**Please note if you choose the subscription option at the participant rate; however, are unable to participate in one or both surveys, no refunds will be issued.  In such cases, the bank has the option to purchase the survey findings at the non-participant rate, and the difference in cost will be invoiced accordingly.   

To pre-order your copy of the survey, express your interest in the subscription option, or if you have any questions regarding the survey, please contact Elyse Hoffmann at surveys@blanchardc.com or call 608-843-9672.  We appreciate your time and commitment to contributing to the success of our surveys

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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 edition, we visited the 2024 OBA Commercial Lending School and asked some of the attendees there “What was your favorite part of the OBA Commercial Lending School?

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OBA education corner …

The weather is so nice, it makes us want to sashay around like Stevie Nicks in so many of her music videos! Obscure reference? If you think so, then we suggest you catch yourself up on the output of the Fleetwood Mac lead singer, as well as solo star! While you’re deciphering our random pop culture references, take a little the time to check out our upcoming continuing education opportunities!

  • Most Common TRID Issues, March 19, webinar — Compliance with the TILA-RESPA Integrated Disclosures (TRID) rule is frustrating and elusive for many of us.
  • Fraudulent Cashier’s Checks – Best Practices for Avoiding Losses, March 20, webinar — Learn about the unique risk cashier’s checks pose to banks and the best practices for limiting losses when processing these transactions.
  • Excelling in Your Role of the Bank Board Secretary, March 21, webinar — The board secretary’s role goes far beyond “notetaker” at board meetings to being the chief organizer, ensuring compliance requirements are met, understanding governance issues, planning meetings, developing reports and preserving corporate records.
  • Tax Returns and Personal Financial Statements, March 22, webinar — Learn the basics of evaluating tax returns and personal financial statements in this 90-minute webinar.
  • Opening Business Accounts, March 26-Oklahoma City, March 27-Tulsa — In this evening seminar, participants gain confidence and a clear understanding of the regulatory, compliance, documentation and state law requirements for opening business accounts.
  • ACH Rules Update, March 28, webinar — The ACH Rules continue to evolve. In this webinar, you’ll get expert insights into what’s changed and what changes are coming so you can help your financial institution remain compliant.
  • CRA Modernization, April 2-Tulsa, April 3-Oklahoma City — This comprehensive seminar is designed to demystify the changes to CRA and provide a pathway to compliance with CRA Modernization’s final rule.
  • 2024 BSA Fundamentals, April 16-Tulsa, April 17-Oklahoma City — This workshop will provide current, updated tools, techniques, and “real world” examples for learning the critical components of a BSA/ AML program.
  • 2024 Frontline Excellence (formerly known as “Essential Teller Issues”), April 22-Oklahoma City, April 23-Tulsa, April 24-Enid — This program serves as an important reminder about the significance of their role, serving as the CEOs of the customer experience and reinforcing the importance of their actions and reactions as a reputation builder for your brand.
  • 2024 Spring Human Resources Seminar, April 25, Oklahoma City — In this seminar we will discuss the latest in federal and state regulations including AI and how it is affecting many HR processes.
  • Loan Assistant and Loan Processors Workshop, April 30-Tulsa, May 1-Oklahoma City —  This workshop is designed to provide lending knowledge and administrative effectiveness of one of the most important positions in a community bank’s lending staff: the loan assistant/loan processor.

Also, NOW is the time to get involved in your Association, and one good way to accomplish this is to join one of our committees! We are now taking names for those interested in our committees for the 2023-2024 year. By participating with the group three to four times a year, you learn more about your profession, meet other bankers, share ideas and become better at what you do.

Additionally, 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 13-15 at the Skirvin-Hilton 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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