Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OBA updates large withdrawal questionnaire, guidance
- Report: Limiting credit card interchange fees would harm consumers
- OBA installs Ada banker as chair, honors others at annual convention
- Service Oklahoma to host Q&A session on upgraded Electronic Liens and Titles system
- ABA accepting nomination for Emerging Leaders Awards
- OBA TikTok Time …
- OBA education corner …
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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I hope everyone had a great time at our convention last week! You can read more about it, and catch some highlights in the post below, but I was ecstatic to see so many bankers in person over the three days!
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The state legislative session is nearing completion, although there is still some jiu-jitsu remaining in working on the budget. .
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Nebraska softball remains alive after winning the Baton Rouge regional this past weekend. The ‘Huskers did so without even having to face the host LSU Tigers, who were upset TWICE by Southeastern Louisiana. Nebraska, meanwhile, was lifted by a familiar face in Jordy Bahl, who reached base ALL 12 TIMES SHE BATTED in the regional, including four home runs in her first four at bats!
Oh yeah, she also pitched two games, winning both and allowing just one run. OU softball fans should check her out in the upcoming super regional against Tennessee, if they’ve never seen nor heard of her before – she’s pretty good.
OBA updates large withdrawal questionnaire, guidance
We first published this large withdrawal questionnaire and guidance in December 2024 and numerous member banks have since adopted use of these documents when they felt their customer was being victimized by a scam.
With input from some of those users, we’ve made a few updates, which you can download in the links above.
We’d also like to share a success story. One of our members reached out to OBA’s fraud department recently when they had a customer withdraw funds from her trust to write large checks (totaling over $150,000!) for “home remodeling.” The checks were payable to an individual female and not a “remodeling” company. When she entered the bank to conduct a third withdrawal, the bank asked us for guidance. The bank then had a conversation with the customer where she insisted she knew what was going on. Still, the bank asked her to complete the aforementioned questionnaire (on which she was not truthful).
Eventually, she called the next day to stop the third withdrawal. She said after she thought about the questionnaire and her situation overnight, she realized she was being scammed.
We hate this bank customer lost so much money! We celebrate, however, she didn’t lose more thanks in part to the bank having that risk-aversion conversation, and asking her to complete the questionnaire.
This questionnaire, when signed by the customer and the bank, also serves as documented proof the bank counseled the customer on scams. This documented proof of counseling decreases the bank’s risk of a customer-filed lawsuit when funds are depleted.
If you have feedback on this questionnaire or the guidance (published in Microsoft Word to allow customization), we’d love to hear from you: email sharon@oba.com.
Report: Limiting credit card interchange fees would harm consumers
Legislation intended to reduce credit card interchange fees would lead to less access to credit and disproportionately harming low-income households because of reduced revenue for community banks and credit unions, according to a recently published academic report.
The Credit Card Competition Act by Sens. Dick Durbin (D-Ill.) and Roger Marshall (R-Kan.) would impose new network routing mandates on financial institutions that issue credit cards. A research note by Indraneel Chakraborty, chair of the finance department at the University of Miami, said the CCCA gives the largest merchants significantly more bargaining power when negotiating their interchange fees at the expense of community banks.
At the same time, several states have proposed exempting sales taxes and tips from interchange fees on credit cards, which also fall hardest on community banks, he writes.
“We estimate that such an exemption would reduce revenue for community banks and credit unions by nearly $1.6 billion per annum,” Chakraborty writes. “This is because economists estimate that a nationwide implementation of such an exemption would reduce total revenue by roughly $10.5 billion, and community banks and credit unions have a 15% share of the consumer lending market.”
OBA installs Ada banker as chair, honors others at annual convention
The OBA Convention was held on May 12-14 at the Skirvin Hilton in Oklahoma City, where a new OBA chair was named and several other bankers were honored.
Below is information from this year’s successful event!
- The official press release from the convention, where all bankers who received honors and appointments were named.
- The official opening video for convention (hint: there’s actually nothing wrong with the computer!).
- Photos from the convention.
- Photos from the Past Presidents’ Dinner.
- Information on our invaluable sponsors and exhibitors.
- Our TikTok, where – going with our convention theme – we asked several bankers who their favorite country singer was, and their favorite song from him or her.
Service Oklahoma to host Q&A session on upgraded Electronic Liens and Titles system
Service Oklahoma will host a Q&A this week to answer questions about the recently implemented upgrades to the Electronic Liens and Titles system and the full transition to electronic title issuance on July 1.
The virtual Q&A for lienholders will be from 3-4 p.m. on Wednesday, May 21. Click on this link at the time of the event to join.
To ensure Service Oklahoma addresses everyone’s questions, please take a moment to submit what you plan to ask using this online form. If you have additional questions during the Q&A, the Service Oklahoma team will be happy to answer them as well.
If you are unable to attend or have additional questions, Service Oklahoma will host a second Q&A from 3-4 p.m. on Wednesday, June 18. A link to this session will be available closer to the date.
April 7: ELT Upgrades
As you know, enhancements to the ELT system launched on April 7, bringing flexibility, simplified processes and added new features for lienholders, dealers and customers. They include:
- The ability for lienholders and dealers to purchase expanded vehicle information requests via OkCARS, allowing them to obtain the same reports that they would get at licensed operators but outside business hours.
- Continued access to limited VIRs at no cost.
- The option for dealers to add electronic liens for lienholders through OkCARS.
- The use of the Electronic Title Bill of Sale when transferring ownership of vehicles with electronic titles.
July 1: Full Transition to Electronic Titles
The enhancements precede the next phase of ELT that will begin on July 1, when all titles in Oklahoma will be issued electronically. But sometimes, printing a title will still be necessary. To accommodate such scenarios, Service Oklahoma added a fifth justification for requesting a printed title since our last weekly update. The exceptions for getting a printed title include:
- Moving out of state.
- Selling the vehicle out of state.
- Selling the vehicle at auction.
- Utilizing the vehicle for floor plan lending.
- (NEW) Leasing a vehicle that is within six months of lease completion OR leasing a vehicle in which the lessee wants to purchase the car.
- This exception allows the lessor to obtain a printed title before the end of the lease so the vehicle can be resold quickly once the lease is completed.
- This exception also allows for the lessor to request a printed title to assign to the lessee if the lessee wishes to purchase the vehicle before or once the lease contract expires.
To make requesting a printed title more convenient, Service Oklahoma developed a new feature that allows licensed operators to process print title requests during vehicle registration – turning two transactions into one. The Service Oklahoma team is working to finalize updates to the title print request form. As a reminder, the title print request form should be used instead of the duplicate title form when a physical title is needed due to one of the five approved scenarios. The duplicate title form should only be used when an existing paper title has been lost.
In addition to this new functionality, the title print request option will also be available:
- During the dealer slip-in title process.
- To dealers and lienholders through OkCARS.
- The title print request option within OkCARS is not part of the original title transaction. Instead, it is available after an electronic title has already been issued – when the vehicle owner later meets one of the four approved scenarios for a printed title.
Additional Resources:
Besides the upcoming Q&As, below are additional resources to help you take full advantage of ELT functionality.
- Updated FAQ: This document features answers to your questions from our previous Q&A and additional questions following the session.
- Q&A Video Recap: This is a recording of Senior Manager of Motor Vehicle Operations Tiffany Doane demonstrating how to add electronic liens and make title print requests.
- Lienholder Adding a Lien: This guide is a refresher for lienholders on how to add and remove liens electronically using their OkCARS accounts.
If you need further support or want to be added to the ELT distribution list, please email ELTaccounts@service.ok.gov.
ABA accepting nominations for Emerging Leader Awards
The ABA has opened up nominations for its Emerging Leader Awards, to be recognized at the 2025 ABA Convention.
If your bank has a candidate, please review the information below and click here for additional details and the nomination form.
The ABA Emerging Leader Awards identify and recognize the next generation of bank leaders who are committed to the highest standards of achievement and service to the industry and their communities. Developing and guiding future leaders is critical to our industry’s success, as today’s emerging leaders are tomorrow’s decision-makers. The ABA Emerging Leader Awards recognize forward-thinking, adaptable and innovative bankers who inspire and influence others toward achieving a common goal.
Emerging leaders have the desire, capacity and initiative to make significant contributions toward the success of their bank. They are driven to grow as leaders and develop new skills to strengthen both the banking industry and their community.
If this sounds like you, the ABA encourages you to apply! Don’t miss this opportunity to showcase your leadership journey and receive industry recognition.
Application portal will close June 20, 2025.
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, a TikTok account is not required 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 in the TikTok Time … corner of various upcoming OBA Updates. For this edition, we leaned into our convention theme and asked several bankers at the event last week “Who your favorite country singer is, and what is your favorite song from him/her?”
OBA education corner …
Convention time is finally behind us, which means things slow down a tad with in-person education events by the OBA for the next couple of months. It doesn’t mean, however, there are no opportunities for continuing education out there in the summer months: check out our events calendar and take particular note of the events below in the coming weeks!
- Writing an Effective Credit Memorandum for a Successful Outcome, May 27, webinar — After a detailed credit analysis of a loan request has been performed, it is now time to communicate your findings in writing.
- Loan Modifications: What are the Compliance Issues, May 29, webinar — We’ll discuss the compliance and legal requirements, operational challenges, and impacts to borrowers, guarantors and other parties to the loan.
- Data Privacy 101, June 2, webinar — Attend this session to understand the principles of data privacy, review the common data privacy threats which concern your institution and review practical data privacy controls which can safeguard your financial institution.
- ACH 101: Learn the Essentials of ACH Processing, June 3, webinar — You will receive a foundational overview of ACH, including its functions in delivering electronic payments.
- Reg E Investigations, June 3, webinar — Regulation E error resolution requirements are very detailed and must be handled in a timely manner.
- Common Issues in HMDA Data, June 4, webinar — This webinar provides insight into the murky areas of HMDA which may result in the failure to report the appropriate loans on the LAR or errors in reported data fields.
- The Role of AI in Risk Management and Banking: Innovations, Challenges and Future Trends, June 5, webinar — As financial institutions embrace AI-driven solutions, they must also navigate complex challenges, including ethical considerations, regulatory scrutiny and the need for transparency in AI decision-making.