Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- ABA, OBA, other state bankers associations oppose credit card rate caps to bill
- Join your peers on Capitol Hill: 2025 OBA Washington Visit set!
- Welcome new OBA strategic partners
- 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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With any luck, the state legislative session will be wrapped up and through by the end of this week! We’ll keep our fingers crossed and our ears to the ground for any developments that might affect our industry!
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I read where the Treasury Department is planning to stop producing new pennies next year. Considering it costs 3.7 cents to produce one penny, it certainly makes sense (cents?). Don’t, however, start hording pennies thinking they’re going to be worth billions soon!
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Well, the Nebraska softballers couldn’t make it to the World Series in Oklahoma City, but they sure put a scare in the favorite Tennessee Lady Vols over the weekend! After winning game one, the ‘Huskers lost games two and three of their super regional with Tennessee in one-run contests.
Meanwhile, however, the Cornhusker baseball team rose from the dead to surprise everyone by winning the Big 10 Tournament! Their reward for doing so? A date with the Oklahoma Sooners in the NCAA Tournament on Friday! The Big Eight lives!
ABA, OBA, other state bankers associations oppose credit card rate caps to bill
In a letter to the Senate last week, the American Bankers Association, the OBA and 51 other state bankers associations expressed strong opposition to any effort to attach the 10 Percent Credit Card Interest Rate Cap Act as a poison-pill amendment to the unrelated GENIUS Act or any other legislative vehicle.
The associations outlined why the legislation, which would impose an all-in annual percentage rate cap at 10 percent on credit cards, “would have a devastating effect on access to credit for individuals and small business owners who rely on seamless access to liquid credit lines.”
“Study after study have shown that even modest government price controls raise costs rather than lowering them,” the groups wrote. “Massive government intervention dictating the terms of a highly popular unsecured credit product would restrict or outright eliminate the availability of this type of short-term revolving line of credit for millions of Americans.”
An ABA analysis conducted in 2020 found that if a 15% interest rate cap were enacted, nearly 95% of subprime borrowers would be at risk of losing access to credit cards – equivalent to 65 million accounts. The negative impact on credit access would be even more pronounced at 10%.
The groups explained that for many Americans a credit card is a critical source of funds in times of need, such as when they face an unexpected healthcare bill or an expensive car or home appliance repair. The tens of millions of consumers who would no longer be able to access the credit card market would be forced to turn to less regulated and more costly alternatives to manage these financial disruptions, including payday lenders, unregulated fintech lenders and pawn shops.
Join your peers on Capitol Hill: 2025 OBA Annual Washington Visit set!
The OBA’s Annual Washington Visit is Sept. 21 through Sept. 23, and the hotel will be The Mayflower Hotel.
Click here to register online or submit the registration form available in the brochure. If you have any questions, contact Megan McGuire.
Welcome new OBA strategic partners
The OBA would like to welcome its newest strategic partners:
FIS Global
For more than 50 years, financial institutions and businesses have relied on FIS financial technology to power their mission-critical operations. Today, its technology helps clients unlock new growth opportunities by cutting through complexity and bringing harmony in how they store, move and put money to work.
Contact: Steve Velicer
347 Riverside Ave
Jacksonville, FL 32204
Cell: (636) 399-8765
Email: steven.velicer@fisglobal.com
Website: www.fisglobal.com
Whitley Penn, LLP
A full-service public accounting firm with strong Texas roots. It has been supporting and serving community banks throughout the Southwest for more than 30 years. The in-depth banking experience of its senior management team allows it to help community banks navigate the changes and challenges they face. Professionals there can look at each new challenge with a perspective as unique as you and your business. Whitley Penn is strategically positioned to serve Oklahoma community banks.
Contact: Brett Murphy
3600 North Capital of Texas Highway, Building B, Suite 250
Austin, TX 78746
Phone: (737) 931-8225, Cell: (210) 286-5263
Email: brett.murphy@whitleypenn.com
Website: whitleypenn.com
Standley Systems
Standley Systems is an office technology provider to include copy/print systems, document management and workflow solutions as well as IT/managed network services.
Contact: Perry Hatch, VP of Sales
26 E. Main St.
Oklahoma City, OK 73102
Phone: (405) 834-9306
Email: phatch@standleys.com
Website: www.standleys.com
Development Capital Networks
DCN manages public sector funds that provide credit support (subordinated) loan participations and collateral support) to banks to facilitate increased lending to small businesses, as a way of driving economic growth & job creation.
Contact: Josh Toney
4045 NW 64th Street, Suite #405
Oklahoma City, OK 73116
Phone: (405) 358-3040 Cell: (405) 351-0460
Email: jtoney@dcnteam.com
Website: www.dcnteam.com
OBA education corner …
We wonder if this is the last stretch of rain before Oklahoma summer finally makes its appearance … and we don’t see any more rain for several weeks! It’s always one extreme or another it seems. While bundling up against all the rain, make sure to take part in some upcoming continuing education opportunities for you and your staff in the coming weeks!
- 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.
- 2025 Fair Lending All-Day Live Streaming, June 10, webinar — Despite news to the contrary, fair lending continues to be a very hot topic in 2025, even with a constant flow of new developments and expectations.
- Compliance for the Board: Meeting Annual Training Requirements, June 10, webinar — The board is ultimately responsible for all areas of your compliance program. Therefore, they need to understand basic regulatory requirements and have a thorough understanding of their responsibilities.
- Consumer Collections 101, June 10, webinar — This presentation will discuss the brave new world of consumer collections and how best to navigate the current challenges facing lenders so that you can effectively resolve delinquent and charged off accounts.
- 2025 Call Report: Common Exam Issues, June 13, webinar — This session will explore common findings from regulatory exams and discuss effective strategies for resolving these issues.