Saturday, July 20, 2024

Week of June 17

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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Today is primary day in Oklahoma! There’s plenty of interesting races around the state, but none more than the contest for the 4th congressional district. Tom Cole, the longtime U.S. representative for the district is being challenged by newcomer Paul Bondar. Bondar has dumped lots of money in the race – reportedly, most of which is his own – in a effort to oust Cole.

While I doubt Bondar accomplishes his goal, it will be interesting to see just how close he can make it, or if there is a chance it heads to an August runoff because no candidate garners 50%-plus-one of the vote.

My eyebrows did raise when I saw his most recent campaign ad, where the other candidates also competing for the seat encouraged voters to pick Bondar if they weren’t going to vote for one of them.

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Speaking of eyebrow raises, mine did again when I read recent comments from Federal Reserve Governor Michelle Bowman.

While talking at a conference in Austria on Monday, Bowman said regulators must be more open to banking innovation. Bowman said regulators’ initial response to innovation in the banking sector “is not one of openness and acceptance but rather suspicion and concern.” Some skepticism is understandable, “but it is incumbent on regulators to fight the temptation to say ‘no’ and resist new technology and instead focus on solutions.”

You can click here to read all of Bowman’s comments.

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While Nebraska isn’t in it, the Men’s College World Series is at least IN Nebraska! I’ve been enjoying the games so far, but can’t help but feel sorry for the hard-luck loss by Florida State on Saturday night.

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Bill introduced to change CFPB funding structure

Republicans on the Senate Banking Committee last week introduced legislation that would require the Consumer Financial Protection Bureau to be funded through annual appropriations by Congress.

The CFPB is unique among federal agencies in that its funding comes directly from the Federal Reserve based on a request from the bureau’s director. The U.S. Supreme Court earlier this year upheld the bureau’s funding structure. 

The bill – S. 4521 – from Sen. Bill Hagerty (R-Tenn.), Ranking Member Tim Scott (R-S.C.) and seven additional committee Republicans would subject the CFPB to the congressional appropriations process.

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Deadline extended to participate in salary survey

We want to extend our thanks to those who have already completed the annual salary survey.  The deadline has been extended to July 5, so we continue to invite banks to join the 2024 Salary & Cash Compensation Survey!

This survey collects data on salary and cash compensation (salary + annual cash incentive/bonus + commissions) for approximately 30 executive positions and over 150 middle-management and staff-level positions.  Data cuts will be broken out by asset size and region where we have a large enough sample size.

Survey Pricing:

  • OBA Member Participant: $350
  • OBA Member Non-participant: $650

Survey Instructions:

  1. Click on the link (2024 Salary and Cash Compensation Survey Link) or visit blanchardc.com to access the secure survey link.
  2. Download the Excel file and complete the survey.
  3. Email the completed survey to surveys@blanchardc.com or utilize the secure upload link (Secure Upload Link) (also available on the Blanchard website) by Friday, July 5.

Pre-Order and Inquiries:

We thank you in advance for your participation and help in making the compensation survey a continued success.

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OBA education corner …

Did anyone see the mass of humanity that showed up to see the King of Country Music this past weekend?! George Strait – a favorite here at the OBA – welcomed 110,905 of his closest friends to College Station, Texas, on Saturday! It was the largest ticketed concert in U.S. history! Listening to a King George sing Amarillo By Morning in that setting looked to be enough to leave goosebumps on one’s arms! Did anyone reading this attend? Let us know so we can live vicariously through y0u! Speaking of living vicariously through others, make your coworkers jealous by taking advantage of upcoming OBA education opportunities! Take the following for example:

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