Tuesday, June 18, 2024

Week of May 27

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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Against all odds, it seems, a budget deal was reached in the state legislature before the end-of-month deadline. It took EIGHT – sometimes contentious – public budget meetings to get it done, but done it is.

You can read all about the particulars of the deal via the NonDoc news website, but I, for one, was glad to see the final decisive handshake between House Speaker Charles McCall and Senate President Pro Tempore Greg Treat in what was their final budget negotiation with both term limited after this year.

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Somewhat random, but I read a story recently that a J.D. Power poll showed debit cards are still the product-of-choice for most consumers. I guess it really isn’t a surprise or anything, but I do find it interesting how dominant the form of payment is.

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The Cornhuskers are coming to town! Excuse me: THE BIG TEN TOURNAMENT CHAMPION CORNHUSKERS are coming to town!

After winning its first-ever Big Ten Tournament title, the Nebraska baseball team was placed in the Stillwater Regional of the NCAA Tournament. The second-seeded ‘Huskers will open with Florida on Friday afternoon. If both Nebraska and Oklahoma State win their openers (the Cowboys face Niagara), the two ancient foes will face off on Saturday evening.

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ABA, ICBA, other associations sound off on data privacy bill

A bill that would establish national data privacy standards does not include clear language for financial institutions to understand their exemption from the requirements, the American Bankers Association, Independent Community Bankers Association and five financial sector associations said last week in a letter to House lawmakers.

The American Privacy Rights Act would establish standards for consumer privacy rights and data privacy. In their letter, the associations noted that the Gramm-Leach-Bliley Act already sets privacy and data security requirements for financial institutions.

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Banking industry proves strong after early 2023 stress

The banking industry demonstrated resilience after a period of stress in early 2023 as full-year net income remained high, overall asset quality metrics were favorable and liquidity stabilized, the FDIC said last week in its annual Risk Review of the banking sector.

Among other things, the agency said that problem banks accounted for 1.1% of all banks at the end of 2023, “which is near the low end of the typical range for non-crisis periods.”

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OBA education corner …

Acoustic covers of songs that you wouldn’t really think could be acoustic are always fascinating! Over the weekend, some of us discovered a darned good version of a Nirvana classic while checking out some live music in downtown Norman. Many props to the duo who turned a headbanging classic into a delightful ditty! Hey! Don’t let our musical musings and off-topic ramblings make you forget about why you’re in this section of the OBA Update: to see what’s coming as far as upcoming OBA education opportunities! Here’s some examples:

  • 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.
  • Overdraft Programs: Avoiding an Exam Disaster, June 11, webinar — Overdraft programs continue to be a hot button for examiners, especially the CFPB. Despite the guidance and communications issued by the agencies, there is still confusion over what requirements actually apply to the programs you offer.
  • Best-Ever Compliance Checklists for Commercial Loans, June 12, webinar — Don’t let compliance traps trick you. Discover the best practices for business-entity documentation, underwriting documents, guarantors and security interests to ensure your success!
  • Financial Statement Analysis, June 14, webinar — This course addresses financial statements the way a branch banker would in the process of his or her work.

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