Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OCC announces final rule to implement GENIUS Act
- OBA to host Zoom forum with gubernatorial candidates
- Romance Scam Prevention Act becomes law
- 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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Just a quick one from me today as I’m in Salt Lake City attending the ABA Annual Convention. We’ve already heard the latest on AI adoption, tokenized money, stablecoins, cybersecurity, etc., and I’m looking forward to the final two days of the event!
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I do want to remind everyone about the virtual forum we have with the Democratic and Republican candidates for governor later this week! It’s open to all OBA members and we’d like to have as many on the Zoom as possible to show the candidates how politically engaged Oklahoma bankers are.
You can read more about it in the story below.
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Nebraska football didn’t get the opportunity to rip out my heart this past weekend, as it was on an off week. But we’re right back to the heartbreak this coming Saturday as Washington comes to town!
OCC announces final rule to implement Genius Act
The Office of the Comptroller of the Currency announced last week a final rule to implement the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.
“The GENIUS Act marks a watershed moment in American finance, further cementing the United States as the crypto capital of the world. Just as President Abraham Lincoln’s National Currency Act of 1863 established a national framework for bank-issued currency, the GENIUS Act establishes a federal framework for payment stablecoins in the digital age,” said U.S. Secretary of the Treasury Scott Bessent. “The OCC’s final rule carries that landmark legislation forward, providing a clear, practical foundation for private-sector innovation, competition, and American leadership in digital assets.”
The final rule establishes requirements for permitted payment stablecoin issuers and foreign payment stablecoin issuers under the OCC’s jurisdiction, as well as certain custody activities conducted by OCC-supervised entities. It addresses all of the regulations the OCC is required to promulgate under the GENIUS Act other than those related to the Bank Secrecy Act, anti-money laundering, and Office of Foreign Asset Control sanctions, which will be addressed in a separate rulemaking in coordination with the Department of Treasury. In the course of rulemaking, the OCC received hundreds of comments in response to the proposal from a wide variety of stakeholders, including crypto-focused companies, community bankers, trade groups, academics, and more.
The OCC will continue to coordinate with other agencies responsible for implementing aspects of the GENIUS Act. The agency will announce in a separate news release when it will begin accepting and processing applications and waiver requests from prospective permitted payment stablecoin issuers. Given the nascency of the industry, the OCC will closely monitor its evolution and structure and adjust the supervisory and regulatory framework for payment stablecoin issuers to the extent necessary.
The final rule and the GENIUS Act take effect on Jan. 18, 2027.
OBA to host Zoom forum with gubernatorial candidates
The OBA is proud to host the Democratic and Republican gubernatorial candidates in a virtual meeting Thursday!
Mike Mazzei and Cyndi Munson, the two major-party candidates who will contend in the election later this month, will be part of a Zoom meeting open to all OBA-member bankers on Thursday, Oct. 29. The meeting will open with Mazzei at 9 a.m., and follow with Munson at 9:30 a.m. It will be hosted by OBA President and CEO Adrian Beverage, who will ask questions of both candidates.
This is a unique opportunity, exclusively for OBA members, to show both candidates how involved the banking industry is at the state government level. The more we have on the call, the better – so invite others at your bank!
The Zoom link information is below. Again, a reminder: this is for OBA-member bankers ONLY. All others will be removed from the Zoom call. No RSVP is required.
Zoom link: https://us06web.zoom.us/j/88640425963?pwd=735lpy6xPBALmZycmoPiiHXFzl1EsY.1
Meeting ID: 886 4042 5963
Passcode: 048982
For telephone audio:
1-346-248-7799
Romance Scam Prevention Act becomes law
On Oct. 20, President Trump signed the Romance Scam Prevention Act into law. This bipartisan bill will require dating apps and services to issue fraud ban notifications to users who have interacted with a person removed from the app for fraudulent activity.
When an online dating service provider becomes aware of a user committing fraudulent activity, like illegally obtaining money, the online dating service provider immediately deactivates the fraudulent user’s account. However, individuals who meet online often take their conversations to other communication platforms, so even when a fraudulent account is removed, an individual might not know they are still communicating with someone who was banned from the platform.
The fraud ban notification must be provided no later than 24 hours after the ban is initiated (there are exceptions). You can read the full Act here.
OBA education corner …
Zach Bryan has turned into quite the Oklahoma troubadour in the last few years, selling millions of albums and filling up stadiums. His 2022 magnum opus, American Heartbreak, has been on our turntables here for the last week. It’s a LOOOONG album, but there’s quality as well as quantity on it. So, while looking for something in the orange, make sure to keep up with what’s happening on the continuing education front, including the following:
- 2026 IRA Basic and Advanced Issues, Basics: Nov. 3-Tulsa, Nov. 5-Oklahoma City; Advanced: Nov. 4-Tulsa; Nov. 6-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.
- Commercial Loan Defaults, Waivers, Workouts and Amendments, Nov. 4, webinar — Discover insider tips and essential guidelines for navigating challenging workout situations.
- 2026 Head Teller All-Day Streaming, Nov. 5, 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.
- HMDA Essentials, Nov. 5, webinar — This webinar designed to provide practical compliance guidance – not simply a review of the regulation.
- Call Report: Common Exam Issues, Nov. 6, webinar — This session will explore common findings from regulatory exams and discuss effective strategies for resolving these issues.
- Call Report: Common Exam Issues, Nov. 6, webinar — This session will explore common findings from regulatory exams and discuss effective strategies for resolving these issues.
- Beyond Busy: Becoming a More Strategic Trainer (Practical Strategies to Increase Your Impact Without Working Longer Hours), Nov. 10, webinar — In this interactive workshop, you’ll learn practical strategies to regain control of your time, focus on high-impact activities, partner more effectively with subject matter experts and increase your influence within the organization.
- OBA/Forvis Mazars Executive Banking Symposium, Nov. 12, Oklahoma City — This event delivers timely insights on economic trends, artificial intelligence, cybersecurity, regulatory developments and strategic leadership.
- 10 Ways to Prevent New Account Fraud, Nov. 12, webinar — Fraud is on the rise and new account personnel at the financial institution can detect and prevent many of these frauds from the beginning.
- Stablecoin Risk & Compliance: Frameworks, Nov. 12, webinar — As stablecoins move into the regulated banking environment, financial institutions must adapt existing compliance frameworks to this new asset class.
- Controlling the Risks of Power of Attorney Documents, Nov. 12, webinar — To protect your institution’s interests when using these documents, it is imperative to understand the basic do’s and don’ts.
- 2026 Fall Human Resources Seminar, Nov. 13, Oklahoma City — We will revisit the fundamentals, discuss important legal and regulatory developments, explore emerging workforce trends and share practical strategies that can be applied within your organization.
- 2026 OBA Operations School, Nov. 16-20, Oklahoma City — This school is designed to prepare junior-level officers to mid-level operations managers to manage effectively and efficiently an operations function within a bank.
- Most Common TRID Issues, Nov. 17, webinar — TRID has always been one of the most complicated rules out there, and there are many ways to violate the provisions.
- AI Security and Privacy for Financial Institutions, Nov. 17, webinar — This webinar offers a comprehensive, unbiased look at various AI platforms, along with practical, actionable guidance for financial institutions.
- AI and the Future of Relationship Banking, Nov. 18, webinar — Discover how financial institutions can use AI to reduce friction, improve service and support employees without sacrificing the judgment, accountability and personal relationships customers value.
- Regulation CC for Staff, Nov. 19, webinar — There are many questions, such as can we place a hold on a cashier’s check? How many days can we hold checks on a new account? Does this apply to business accounts? Do we have to give the hold while the customer is there or can we mail it later?
Also, the 2026 Rural Economic Outlook Conference will occur on Nov. 4 at the OSU ConocoPhillips Alumni Center in Stillwater. Attendees will hear about livestock market uncertainty, farm transitions, data centers in Oklahoma, grain market trends, along with updates on the Food and Ag Products Center, ag finance and ag policy. Register today to learn about these topics.