Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- Banking associations oppose bill to set credit card, loan fee caps
- Oklahoma Bankers Hall of Fame induction ceremony slated for early December
- 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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After being away for much of the past two weeks, it’s good to be back in Oklahoma for a while! Although I avoid traveling, I still have meetings on the docket as our OBA Board of Directors has its October get-together today, as well as our Government Relations Council.
Never hesitate to contact myself or anyone on either group with questions or concerns you might have!
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As part of a congressionally mandated review of regulation by federal agencies, the American Bankers Association submitted a list of recommendations last week to reduce the regulatory burden on banks. It’s an interesting read, if you get a chance.
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It sure wasn’t easy, especially after blowing a two-touchdown lead, but Nebraska ended up back on the winning side of the ledger with a win against Northwestern on Saturday. I’m looking forward to our next game, and I figure we’ll have a bunch of Sooners rooting for us as well, as we play USC, and the coach-who-shall-not-be-named, this weekend.
Banking associations oppose bill to set credit card, loan fee caps
A proposed bill to establish a nationwide cap on fees and interest on credit cards and consumer loans would have a devastating effect on access to credit for individuals and small-business owners, the American Bankers Association, Independent Community Bankers of America and six other financial sector associations said in a letter on Monday.
The Protecting Consumers from Unreasonable Credit Rates Act (S. 2781) would impose a national “fee and interest rate” cap of 36%. The legislation is sponsored by Sens. Dick Durbin (D-Ill.), Sheldon Whitehouse (D-R.I.), and Richard Blumenthal (D-Conn.). In a letter to the sponsors, the associations pointed to studies showing that even modest government price controls raise costs rather than lower them.
A 36% rate cap on consumer loans will mean depository institutions will be unable to recover costs that enable them to sustainably offer affordable small-dollar loan products, they said. The same cap on credit card fees will result in tightened underwriting practices, lower credit lines and reduced cardholder rewards.
Oklahoma Bankers Hall of Fame induction ceremony slated for early December
The Oklahoma Bankers Hall of Fame announced today the four bankers who will be inducted into its 2025 class later this year.
R.S. “Brud” Baker, Sandy Bracken, Gary Huckabay and Lee Symcox will make up the 2025 class. The inductees were selected by a panel of bankers from across the state, and were voted on late last week.
The induction ceremony will be held Dec. 4 at the Oklahoma History Center. It will be hosted by the Oklahoma Bankers Association’s immediate past chair, Alicia Wade, who is COO of Sovereign Bank, in Shawnee.
Click here to read the full release and more info on each of the to-be inductees.
OBA education corner …
We definitely felt a cold front move through this morning at the OBA offices! It seemed more like a tornado as rain began to blow sideways and anyone trying to go outside immediately had the door slammed in their faces by the wind! Although it was a rough transition, we look forward to the upcoming cool weather. While you (finally) enjoy autumn, make sure you take a little time to keep up with what’s happening on the continuing education front, including the following:
- Commercial and Business Lending Basics for Support Personnel, Nov. 3, webinar — This webinar is designed to take the mystery out of the commercial and business lending process and the confusing terminology often used by lenders.
- Trust Talks: 10 Things You Need to Know About Opening Trusts, Nov. 4, webinar — Before you open trust accounts, maybe there are some basics you need to know about them!
- 2025 IRA Basic and Advanced Issues, Basics: Nov. 4-Tulsa, Nov. 6-Oklahoma City; Advanced: Nov. 5-Tulsa; Nov. 7-Oklahoma City — IRA providers are scrambling to adjust their policies, procedures, forms and communications to comply with the ongoing substantive changes to the laws governing IRAs.
- The Role of the Board Audit Committee, Nov. 7, webinar — We will provide a sample charter and identify the key reports this committee must regularly review to effectively manage their role.
- BSA Consent Order: Lessons Learned for Smaller Institutions, Nov. 13, webinar — During this program, we will explore the consequences of Bank Secrecy Act compliance failures and how smaller institutions can learn from recent consent orders.
- 2025 Loan Structure Documentation & Compliance, Nov. 13-Tulsa; Nov. 14-Oklahoma City — Attend this proactive seminar and receive a thorough overview of commercial lending requirements from a “loan” structure, documentation and compliance perspective.
- 2025 Call Report: Common Exam Issues, Nov. 14, webinar — This session will explore common findings from regulatory exams and discuss effective strategies for resolving these issues.