Tuesday, June 18, 2024

Week of May 20

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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Our annual convention took place last week and it was an absolute hit! Between a chat between OBA Chair Bryan Cain and well-known oilman Harold Hamm, a visit from the Attorney General Gentner Drummond and a presentation from ABA President and CEO Rob Nichols all on Tuesday, followed by an update from the Oklahoma City Fed’s Chad Wilkerson, a “fireside chat” with prominent Oklahoma bank CEOs Greg Massey and David Rainbolt and the convention-ending awards brunch, this year’s convention had true value for all who attended!

Did you not make it this year? You can check out the highlights in this issue of the Update below!

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We’re trying to put the final touches on the legislative year, but it’s hard with all the issues surrounding the budget negotiations between the state House and Senate. You can read more about all budget badgering via the NonDoc news website, but right now, everyone is awaiting a denouement on the budget drama before anything else can really move.

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I had the opportunity on Monday to speak  to the participants in the OBA Intern Program this summer. These exceptionally bright and talented college students will be spending several weeks each with a different OBA-member bank where they will learn the ropes of their upcoming profession. I think the Intern Program is one of the best things the Association does and I encourage all banks to support it as much as possible – host an OBA intern next summer!

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Despite wins in six of its final nine conference games, the Nebraska baseball team couldn’t overtake leader Illinois for the regular season Big 10 title. Still, the solid final three weeks landed them solely in possession of second place and a seemingly good bet to the make the NCAA Tournament. First up is the Big 10 Tournament, though, where the Nebraska Nine could solidify their NCAA chances.

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Oklahoma agencies host fraud prevention conference

The Oklahoma Insurance Department and Oklahoma County Sheriff’s Office have scheduled their second annual Fraud Prevention Conference for three Friday dates in July.

This conference is free but requires registration. With so many scams targeting our seniors, it’s an excellent opportunity for financial institutions to host a virtual “watch party” in their communities.  Sharon Lewis, with the OBA Fraud Division, will be one of the speakers on Friday, July 19 for the Banking and Financial Frauds portion of the series.

With this much advance notice, bankers could order free publications from https://www.bulkorder.ftc.gov/ to have on hand for attendees to take home.  For additional ideas, please contact sharon@oba.com. You can also click here to get signed up!

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Miss our convention? Miss being at our convention? Check out these highlights!

Did you miss our convention this week? Well, we missed you!

Were you in attendance and want to relive some of the happenings?

Well, we have photos and such to share with everyone!

  • First, start the convention like our attendees with a peek at our opening session video featuring 20 years of conventions making us all “better together”!
  • Next, take a chance to applaud those sponsors who helped make the three days possible!
  • Finally, check out our photo page where we have proof convention was both fun and informative!

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FDIC chair to step down

FDIC Chair Martin Gruenberg announced Monday he will resign once his successor is confirmed by the Senate.

Gruenberg’s notice came after weeks of pressure from lawmakers and increasing allegations of inappropriate workplace conduct against him and other senior FDIC officials.

According to the FDIC’s bylaws, Vice Chairman Travis Hill, a Republican, would assume the chairman’s responsibilities if the position became vacant before a successor was named.

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Welcome new strategic member

The OBA would like to welcome its newest strategic member:

Stephens Inc.
Stephens Inc., is one of largest U.S. investment banking companies (privately-held), founded in 1933. It’s a full-service financial firm that offers investment banking/advisory, research, sales/trading, asset/wealth management, public finance, insurance, private capital and family office services. Stephens serves corporate, state and local governments, institutional and individual investors worldwide.
Contact: Justin Evans
300 Crescent Ct., Suite 600
Dallas, TX 75201
Phone: (214) 258-2722
Email: justin.evans@stephens.com
Website: www.stephens.com

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OBA education corner …

Convention is over, and we proved we were all “better together“! Just because one of the highlight events of the year is in the rear-view mirror, however, doesn’t mean there’s plenty of other upcoming OBA education opportunities to keep an eye on! Take the following for example:

  • Understanding ACH Origination and Risk, May 28, webinar — Join us to learn how to decipher the SEC (Standard Entry Class) Codes, how the products work, and what your warranties are.
  • Loan Structuring Basics, May 28, webinar — When a loan is structured properly, the likelihood of getting repaid increases dramatically. This course provides participants with a basic understanding of loan structure.
  • 2024 Appraisal & Evaluation Compliance, May 30, Oklahoma City — This seminar lays the foundation for risk management and is important to anyone involved in the appraisal and/or evaluation function at a bank, whether they are actively ordering/managing/reviewing appraisals, performing/ordering evaluations or involved in real estate lending risk management.
  • Risk Management in the FedNow Instant Payments Era, May 30, webinar — Dive into the intricacies of risk and fraud in the FedNow landscape. Learn proactive strategies to safeguard both your institution and account holders.
  • New FLSA Overtime Exemption Regulations – Required Action Items Prior to July 1, May 30, webinar — On April 23, the Biden Administration released final regulations which significantly limit overtime exemptions for financial institutions.
  • NACHA Quarterly Review – June, June 5, 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. We’ll also review recent changes to the ACH rules and discuss upcoming changes that might impact your organization or specifically, your role.
  • Flood Essentials, June 6, webinar — Flood insurance rules violations continue to cost institutions thousands of dollars every year! Join this webinar to develop a better understanding of these complex rules and help your institution remain in compliance.
  • Treasury Management: A Powerful Tool to Increase Deposits and Fee Income, June 6, webinar — During this course, you’ll learn to identify and offer the treasury management services your ideal business customers need, and ways your team can collaborate to successfully sell and implement these services.
  • Bi-Monthly Compliance Briefing – June, June 7, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.

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