Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OCC publishes draft reporting forms for stabelcoin issuers
- FinCEN releases Section 314(b) fact sheet
- Tahlequah MAFIA meeting set for early July
- Oklahoma Views & Vistas calendar available for earlybird orders
- 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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Last week, Rep. Frank Lucas held a field hearing in Oklahoma City about “Examining the Structure of the Federal Reserve System.”
Lucas is chairman of the Task Force on Monetary Policy. Other congressional members from across the country who are part of the task force made their way to Oklahoma City for the hearing. There were several former presidents of the Kansas City Federal Reserve office and former board members in attendance as well. The hearing was a lively discussion about policy, the role of the Federal Reserve and what the future may look like for the 12 Federal Reserve banks.
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Today is voting day! The primary elections are being held in Oklahoma, and most eyes are on the Republican race for governor. A debate last week further whetted the appetite for today’s gubernatorial election.
I’m unsure who will emerge from the chaos, and how many candidates overall will also have prepare for a runoff election later this summer. I do know I’ll be glad to see the end of at least SOME of the smorgasbord of political ads on my TV for a while!
• • •
While Nebraska’s 2025-26 sports season may be done, I admit I’m living a bit vicariously through the Sooners’ baseball team! Their ongoing rampage has been fun, to say the least! Even I admit I gulped hard when the final Georgia batter last night lifted a loud fly ball, that was ultimately just a can o’ corn.
OCC publishes draft reporting forms for stablecoin issuers
The Office of the Comptroller of the Currency has released for public review draft forms that will be used to collect information from payment stablecoin issuers under its jurisdiction.
As part of its implementation of the Genius Act, the OCC is proposing a new information collection that would include weekly and quarterly reporting forms that must be completed by permitted issuers and foreign issuers. The agency is seeking public feedback on the forms.
Comments are due 60 days after publication in the Federal Register.
FinCEN releases Section 314(b) fact sheet
FinCEN issued a revised Section 314(b) Fact Sheet on June 12.
The fact sheet states “The financial institution or association of financial institutions need not have identified specific proceeds of fraud being laundered to trigger the protections of the section 314(b) safe harbor, which extends to sharing information where a financial institution ‘suspect[s] possible terrorist or money laundering activities,’ including fraud activity that may be an SUA for money laundering purposes.”
Information sharing is critical to preventing losses associated with fraud events. If your bank is not a member of CrimeDex, a nationwide crime alert, information sharing service, please email sharon@oba.com for more information.
Tahlequah MAFIA meeting set for early July
Local Bank will host the first Tahlequah MAFIA (Metro Area Fraud Investigators Association) meeting on Tuesday, July 7.
Financial institutions, law enforcement, government agencies and retail operators are invited to network and discuss fraud trends in the area. No RSVP required for the event, which begins at 9:30 a.m. at Local Bank at 4695 S. Muskogee Ave., in Tahlequah.
Oklahoma Views & Vistas calendar available for earlybird orders
The 2027 Oklahoma Views & Vistas Calendars are now ready – order yours by Aug. 31 to get the special low price of just $1.25 per calendar.
Pricing after Aug. 31 is $1.50 per calendar.
The deadline for all orders is Sept. 15, so as to be delivered to your bank by Nov. 15, 2026. This is a great way to share your bank’s logo and information to your customers!
OBA education corner …
Never tell us humidity isn’t a big deal. Some of us made it to Omaha this past weekend to watch the Men’s College World Series, and while the temperature never actually rose above 80 degrees, it was truly “air you could wear” with all the humidity from the recent storms there. Meanwhile, it’s not that much better down here, and it’s being coupled with 90-degree temps. While trying to keep your hair from frizzing in Mother Nature’s steam spa, make sure to keep up with what’s happening on the continuing education front, including the following:
- Writing an Effective Credit Memorandum for a Successful Outcome, June 22, webinar — Credit memoranda are a primary means of communications within the banking industry utilized to present a loan request, identify the benefits and risks and to make a loan recommendation.
- Five Vital Steps for Proper Commercial Loan Documentation, June 24, webinar — This part of the lending process is essential to avoid loan losses due to poor documentation.
- Call Report: Current Matters and Common Questions, June 26, webinar — The Call Report is one of the first places examiners look—and it’s also one of the quickest ways small issues can turn into major exam findings.
- Flood Insurance Overview, July 2, webinar — Flood insurance compliance remains a persistent challenge, as reflected in examination findings and civil money penalties issued by regulatory agencies.
- Processing Garnishments on Accounts Containing Federal Benefits Payments, July 8, webinar — This webinar provides participants with the federal rules that are applicable when processing garnishments on deposit accounts receiving federal benefit payments.
- 2026 OBA Compliance School, Aug. 17-21, Oklahoma City — Students will return to their banks equipped to deal with compliance regulations that impact lending practices and deposit functions as well as other related federal and state laws and regulations.