Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- FDIC proposes rule for BSA standards for stablecoin issuers
- OBA calendar photo contest deadline this week
- 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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Convention time has come and gone, and I think it all went down successfully! From the gubernatorial forum to the “fireside chat” with FDIC Chairman Travis Hill, I couldn’t have been more pleased how things unfolded!
I’m looking forward to working with our new chair, Priscilla Cude, over the next 12 months and think we have another successful year in front of us!
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It was a rough weekend for the state’s softball teams, but my Cornhuskers advanced to the Women’s College World Series. Of course, that was to the detriment of one of our local squads as Nebraska took down OSU at the Lincoln Super Regional. Still, since there aren’t any local teams involved, I hope OU and OSU fans might get behind my Nebraska softballers this coming weekend!
FDIC proposes rule for BSA standards for stablecoin issuers
The FDIC proposed a new rule last week to establish Bank Secrecy Act and sanctions compliance standards for stablecoin issuers regulated by the agency.
The Genius Act directs federal banking agencies to implement regulations for stablecoin issuers. The FDIC previously proposed two rules to establish the process for which bank subsidiaries can apply to become issuers, and to set capital, liquidity and risk management requirements for those same issuers.
The proposed rule unveiled on Friday would require issuers to comply with any applicable regulations regarding anti-money laundering/countering the financing of terrorism (AML/CFT), economic sanctions program and reporting requirements, including requirements promulgated by the Financial Crimes Enforcement Network and the Office of Foreign Assets Control, according to a financial institutions letter. It would also establish supervision and enforcement provisions for AML/CFT programs, in alignment with FinCEN requirements.
OBA calendar photo contest deadline this week
The OBA is proud to again offer the customized calendar, “Oklahoma Views & Vistas” from photographs of Oklahoma submitted by Oklahoma bankers and their family members.
These calendars will be sold exclusively to banks across the state of Oklahoma for bankers to give to their customers to enjoy all year long!
If you or a family member is an amateur photographer and would like the opportunity to have your creativity displayed in homes and businesses across Oklahoma, the OBA has a great opportunity for you! Send us your photos of farms, barns, agricultural activities, historical Oklahoma locations, county fairs, carnivals, parades or festivals, fall colors, winter snowfalls, spring flowers or summer fun; any photo that shows the history and beauty of the great state of Oklahoma.
The deadline to submit photos is May 31. All photos submitted will be scored by a panel of judges. The top scoring photos will be featured in the 2027 Views & Vistas calendar! Click here for a contest form!
OBA education corner …
Well, the cold version of last week has quickly transformed into the current muggy weather we’re witnessing now. Pretty soon, it’ll just be plain hot, so enjoy the weird weather changes while we still can. In the meantime, make sure to keep up with what’s happening on the continuing education front, including the following:
- Flood Insurance Compliance: All-Day Streaming, June 2, webinar — This session examines even the most complex and often overlooked areas of flood compliance including questions that may not have definitive answers.
- Consumer Lending Compliance 101, June 2, webinar — This unique webinar will provide an overview of federal compliance laws applicable to loans.
- Call Report Common Exam Issues, June 3, webinar — This session explores how information reported in the Call Report often surfaces in regulatory exams—and why inconsistencies frequently lead to examiner findings.
- Bi-Monthly Compliance Briefing – June, June 9, webinar — A bi-monthly update to help you keep up with changes and deadlines in the compliance area in a quick and easy format.
- OFAC in Focus: Elevating Your Program Beyond the Basics, June 9, webinar — OFAC sanctions compliance requirements are evolving and understanding key requirements is critical to avoiding regulatory risk.
- You’ve Been Served: Best Practices in Processing Subpoenas, June 10, webinar — This webinar will walk attendees through best practices and key warning signs to watch for when handling the different legal documents served to financial institutions.
- Red Flags for Money Laundering and Fraud for Staff, June 11, webinar — Your staff serves as the front line, helping protect your institution from being exploited for money-laundering activities.