Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- Talk to your customers about credit unions
- Court allows Fed governor to remain on board
- OBA to host Bank Fraud Investigators Group meetings
- Emerging Leaders helping at food bank
- 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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We’re in the midst of one of our most important events of the year, the Annual Washington Visit. It’s our chance to hear from and also share our thoughts with the regulators and legislators who affect our industry!
I’ll have a more in-depth recap when we’re finished, but for now, feel free to keep up with photos from the visit, courtesy of Megan!
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You’ll notice below in this Update, as well as being mentioned in the September issue of the Oklahoma Banker newspaper, we’re starting a mini-campaign to encourage our bankers to educate and inform their customers about the tax-free status that credit union enjoy. We’re framing it not as an unfair advantage against banks – the general public is unconcerned about the internecine conflicts of financial institutions – but instead as a national debt and community investment issue.
We sense an opportunity with some of our legislators at the federal level to maybe actually see some movement on this issue, especially with all the talk about the national debt and the cost of the “big beautiful bill.” If we could just convince a handful of your customers to contact their U.S. representative or senator about credit unions, it might make a difference.
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Even I found myself bored, before the game even started, when my Cornhuskers faced Houston Christian on Saturday. A 59-7 score later, and I was still bored.
I’m excited we play a real game this weekend against Michigan. I’d love to see us pull a repeat of what the Sooners did against the Wolverines a couple weeks ago!
Talk to your customers about credit unions
Did you know the average federal income tax paid by an Oklahoma resident was $10,589 last year?
Did you know the TOTAL income taxes paid by credit unions was $0?
As a banker, you probably did, but do your customers know? In a time when the federal deficit is regularly at the forefront of the news, maybe they should know what it’s costing the country (not just banks) when they continue to operate as tax-free entities.
These are the talking points the Oklahoma Bankers Association will try to make to our representatives and senators on Capitol Hill over the next few months, and one way our banks can assist. The OBA will be regularly sharing info on its social media outlets, as well as other strategies, which we hope you – our bankers – will pass along to your customers. Have them visit the https://www.reformcreditunions.com website for more information to share.
Contact us for for print-quality files of our graphics, or just to chat about our goals of this mini-campaign!
Court allows Fed governor to remain on board
A federal appeals court declined on Monday to allow President Trump to remove Federal Reserve Governor Lisa Cook from the Fed board.
Trump last month announced he was removing Cook after Federal Housing Finance Agency Director William Pulte alleged she made false statements on mortgage agreements. Cook filed a lawsuit against the administration in U.S. District Court for D.C., arguing federal law allows the president to remove Fed governors only “for cause,” and claims made against her have not been investigated or proven.
The district court last week granted a temporary restraining order preventing Cook’s removal while it considers the case. The Trump administration appealed the decision, seeking a quick ruling as the Federal Open Market Committee meets Tuesday and Wednesday to set monetary policy. In a 2-1 decision, the appeals court said that given the unique circumstances of the case, and Cook’s “strong likelihood” of success on her claim that she was denied due process, it would not overturn the lower court decision.
OBA to host Bank Fraud Investigators Group meeting
The OBA will host a Bank Fraud Investigators Group meeting at 9:30 a.m. on Friday, Sept. 26, in the OBA’s Harris Event Center.
This meeting is open to any financial institution or law enforcement official in the state of Oklahoma. No RSVP required. Discussions will focus on electronic transaction risks: card fraud, mobile wallet account takeover, email compromise scams, ATM fraud/jackpotting, etc. The meeting usually lasts around two hours, depending on the level of attendance and discussions.
For additional information please email sharon@oba.com.
Emerging Leaders helping at food bank
Volunteer with your banking peers on Tuesday, Oct. 7, at the Regional Food Bank of Oklahoma.
The OBA Emerging Leaders welcome all interested bankers to lend a hand during the volunteer shift that begins at 9:30 a.m. and wraps at noon. Please email Megan McGuire (megan@oba.com) to sign up.
Bankers at the Food Bank
Regional Food Bank of Oklahoma, 3355 S. Purdue Street, Oklahoma City, OK 73179
9:30 a.m.-12 p.m., Tuesday, Oct. 7
OBA education corner …
In the random music category, a couple of us have gotten into a weird .38 Special kick lately. The 70s-and-80s-era southern rock band seemed to pump out more hits than remembered, as so many familiar songs wafted out of our speakers: Hold On Loosely, Fantasy Girl, If I’d Been The One, Caught Up In You, etc. It’s not a band mentioned too often, but sometimes we forget the songs always in the background while growing up! So, while sitting back and begging whomever for a Second Chance, we hope you also have time to check out what’s happening on the continuing education front, including the following:
- Call Report: Current Matters and Common Questions, Sept. 25, webinar — We will cover the latest regulatory updates, examiner expectations, and practical tips to help you ensure accuracy and maintain compliance with confidence.
- Stablecoins & Electronic Banking: What the GENIUS Act Means for Your Financial Institution, Sept. 26, webinar — Stablecoins were just signed into U.S. law – financial institutions are now in the game. Reserve your spot today and start your journey to becoming a GENIUS about stablecoins.
- Processing Garnishments on Accounts Containing Federal Benefit Payments, Sept. 30, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.
- Reg. E Decoded: A Workshop on Electronic Funds Transfer Regulations, Oct. 1, webinar — In this session, we will review the specific error resolution requirements of Reg E, discuss procedural best practices and provide tips on documenting your investigation.
- Artificial Intelligence and Cybersecurity, Oct. 1, webinar — What are the common cyber threats and mitigating controls that should be included in the IT risk assessment process?
- Real Estate Lending Compliance, Oct. 1-2, Oklahoma City — This program provides an overview of the real estate lending requirements from 10 regulations, along with comprehensive coverage of selected topics, policy suggestions, employee training tips, audit techniques and steps to eliminate past problems.
- 2025 Head Teller Training: All-Day Streaming, Oct. 2, webinar — Need help with training head tellers? This series is for you. We will tell you the why behind many of the things we do at the teller line.
- Avoiding Check Fraud Liability: From Prevention to Loss Allocation, Oct. 2, webinar — This webinar provides attendees with tips to avoid check fraud losses, as well as an overview of the laws that apply to loss allocation when check fraud occurs.
- The State of UDAAP: Where Are We Now With All The Regulatory Changes, Oct. 3, webinar — The terms “UDAP” and “UDAAP” are perhaps the most significant ones ever to affect financial services compliance.
- 2025 OBA Consumer Lending School, Oct. 6-10, Oklahoma City — This school exposes students to major issues consumer lenders face. It provides a framework for examining a bank’s consumer credit programs, policies and procedures.
- Fair Lending Essentials and Update, Oct. 7, webinar — In this session, you’ll review the key elements of an effective fair lending program, gain tactical tips for maintaining compliance, and learn to avoid common challenge areas that leave your institution open to unnecessary risk.
- Bank Fraud Investigation 201, Oct. 23, Oklahoma City — This class is designed to provide additional investigative tools and actions to aid with successful investigations, loss recovery, and prosecution of the parties responsible for criminal acts committed against our member banks.
- BSA/AML/CFT Compliance Update, Oct. 28-Tulsa, Oct. 29-Oklahoma City — Whether you’re preparing for your next exam, grappling with high-risk customer relationships or navigating new technologies, you’ll walk away with practical strategies and actionable takeaways.
Additionally, the 2025 Rural Economic Outlook Conference, hosted by OSU Extension, will take place on Oct. 8 in Stillwater. This all-day event is a must for those who work closely in the agricultural markets.