Oklahoma Bankers Association We make bankers better!
In This Issue…
- From Adrian’s desk …
- OCC seeks comment on digitalization issues for community banks
- Service Oklahoma provides FAQ on ELT system enhancements
- ABA survey: Banker satisfaction with core providers remains low
- ‘The Bankers From Oklahoma’ are back! – last week before convention!
- 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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I hope everyone had a great Cinco de Mayo on Monday! No margaritas for me, but I did spend the day getting things together for convention next week! Speaking of convention, we’re officially one week away! Well, less than a week, if you’re playing in the golf tournament! It’s not too late to get registered!
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I saw where my counterpart at the ABA, Rob Nichols, recently wrote an op ed for an agricultural publication. The gist of Nichols’ writing was the importance of the ACRE Act and what it could do to help rural communities.
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My ‘Husker softballers wrapped up the regular season with a sweep of Maryland, and finished in third place in the Big Ten. The conference tournament awaits … then I still think there’s a better than decent chance we could end up in Norman for a the NCAA regionals! Jordy Bahl back in Soonerland! Wouldn’t that be something? Guess we’ll know this time next week …
OCC seeks comment on digitalization issues for community banks
The Office for the Comptroller of the Currency is seeking public input on the key challenges and barriers faced by community banks in the adoption and implementation of digital banking solutions.
The OCC said new technologies can be important tools for community banks to meet customer demand, increase revenue, improve efficiencies and remain competitive. The agency’s request for information will help it “better understand the specific obstacles that community banks encounter in their efforts to modernize operations, enhance customer experience and remain competitive in an increasingly digital financial services environment.”
Comments can be submitted online through Regulations.gov or by mail. They will be accepted for 45 days following publication of the request for input in the Federal Register.
Service Oklahoma provides FAQ on ELT system enhancements
Service Oklahoma is providing an updated FAQ with new information on the enhancements to the Electronic Liens and Titles system that took effect last month, as well as what you can expect on July 1 when Oklahoma fully transitions to electronic title issuance.
You can read the updated FAQ at this link. The FAQ features new answers to topics that lienholders asked about after our first Q&A session last month (page 3), as well as a recap of what we discussed during the meeting itself (page 5).
As a reminder, the improvements to the ELT system that launched on April 7 gives you option to pay for expanded vehicle information requests (VIRs) on OkCARS. The expanded VIRs generate the same reports that you’d get from licensed operators if you were to make in-person requests, allowing you the flexibility to obtain detailed reports outside of licensed operators’ business hours. Meanwhile, the existing limited vehicle information request continues to be available at no cost.
The ELT upgrades also allow dealers to add electronic liens for lienholders via OkCARS. In addition, when transferring ownership of vehicles with electronic titles, an Electronic Title Bill of Sale will be used rather than the title itself.
The enhancements precede the next phase of ELT that will begin on July 1, when all titles in Oklahoma will be issued electronically, with limited exceptions. Existing paper titles will remain valid. But when the next title transaction occurs, the title will be converted to an electronic record.
To prepare you for the full transition to electronic titles on July 1 and answer your questions about the current ELT upgrades, we will host two Q&As for lienholders – one on May 21 and another on June 18. We will send more details, including the link to join, as we get closer to the dates.
In the meantime, here are additional resources to accompany the updated FAQ.
- Q&A Video Recap: This is a recording of Senior Manager of Motor Vehicle Operations Tiffany Doane demonstrating how to add electronic liens and make title print requests.
- Lienholder Adding a Lien: This guide is a refresher for lienholders on how to add and remove liens electronically using their OkCARS accounts.
If you need further support or want to be added to the ELT distribution list, please email ELTaccounts@service.ok.gov.
ABA survey: Banker satisfaction with core providers remains low
Banker satisfaction with their core providers increased modestly in the 2024 ABA Core Platforms Survey.
On a scale of 1-5, overall satisfaction remains low at 3.19. Banker satisfaction varied significantly among the top providers in terms of responses, revealing that all core platform providers are not the same.
‘The Bankers From Oklahoma’ are back! – last week before convention!
Join us in Oklahoma City NEXT WEEK for the can’t-miss event of the year – packed with valuable sessions, networking and a chance to reconnect with Oklahoma’s banking community. Whether you’re looking to expand your knowledge or simply enjoy a great time with fellow professionals, this event has something for every banker.
The connections are real, the conversations are waiting and your name tag is practically begging for a lanyard. We may not have fiddles or guitar solos, but we do have the ultimate gathering this side of Stillwater. Register now to secure your spot, both at convention AND the golf tournament!
May 12-14, 2025
The Skirvin Hilton
1 Park Avenue
Oklahoma City, OK 73102
*Due to pricing structure online registration is not available.
OBA education corner …
The Class of 2025 for the Rock and Roll Hall of Fame were recently announced. Among the 13 inductees are well-known acts like Cyndi Lauper, Outkast, Bad Company, Joe Cocker and Soundgarden.
Soundgarden. There’s a blast from many of our college days. Whether hearing the unforgettable opening to “Rusty Cage” or listening to Chris Cornell’s epic wails on “Outshined“, it’s good to see the mighty Soundgarden get it’s due. Knowledge bomb: It’s the SECOND induction for Soundgarden drummer Matt Cameron, as he was also immortalized into the Hall of Fame with Pearl Jam a few years back.
While listening to Cornell sing about how he wishes the sun would come and wash away the rain, make sure to take part in some upcoming continuing education opportunities for you and your staff in the coming weeks!
- Overdraft Programs and Risks to Your Financial Institution, May 13, webinar — Overdraft services continue to be a target for regulatory scrutiny in 2025 and financial institutions who’ve been cited can attest to the damage unchecked fee income practices can have on an organization.
- Marketing Compliance: Avoiding Violations in Print & Digital Advertising, May 14, webinar — Whether your marketing promotions are digital, print or televised, multiple compliance regulations strictly prescribe what can be said, the elements that should be included and how they should be displayed.
- Vendor Management Program: How Model Risk Fits In, May 15, webinar — With financial institutions increasingly relying on third-party providers to offer their products and services, the associated risks also rise.
- The AI Revolution in Banking: Risks and Rewards, May 20, webinar — Every BSA transaction-monitoring software utilizes AI in some form, as do many credit underwriting systems.
- Regulation CC Changes Approaching July 1! Are you Ready?, May 21, webinar — If you missed last year’s program about updating your numbers, policies and procedures for Reg CC’s new numbers, you will not want to miss this program about upcoming changes.
- Writing an Effective Credit Memorandum for a Successful Outcome, May 27, webinar — After a detailed credit analysis of a loan request has been performed, it is now time to communicate your findings in writing.