The Bankers Right of Setoff Returning Checks within the Midnight Deadline – Part I The Bankers Right of Setoff By Scott Thompson Introduction: Setoff in the Banking Context The relationship between a bank and its customer is fundamentally built on mutual obligations. When a customer deposits funds, the bank becomes a debtor to the customer.  When a customer borrows money …

August 2025 In this issue: Where can I find… Supreme Court Opinions Impacting Banking and Financial Services: October Term 2024-2025 Review Where can I find… By Pauli Loeffler General principles Before going into the specifics, let’s sketch out some general principles about the laws and regulations that impact your business, one way or another. We will start by talking about …

In this issue: Banker Q&As Changes in UCCC amounts effective 7/1/25 Banker Q&As Some of the questions submitted to the OBA’s Compliance team are asked with some frequency by our members. We’ve gathered some of these questions and responses to assist you when similar situations present themselves. Altered check, indorsement claim Q. We had a large check ($40,275.60) that the …

May 2025 Lawsuits of interest Banker Q&As Joint ownership, divorce, and death Right of rescission, recording mortgage TRID closing disclosure Coming in the June 2025 OBA Legal Briefs – Uniform Consumer Credit Code Dollar amount changes Lawsuits of interest By Scott Thompson One of the things I try to do is keep track of lawsuits that might have an impact …

April 2025 EFS Central Filing Update on the McGirt decision Banker Q&As Medicaid Income Pension Trust Disclosures Advertising free checking Who can remove signers on LLC or corporate account? IRA contributions, owner in RMD EFS Central Filing By Scott Thompson If you have read one of Adrian’s legislative updates this year will have seen mention of SB 988. This bill …

March 2025 Extension of the McGirt decision to civil lawsuits Beneficial Ownership Information Update Banker Q&A Series LLC Updating account from ITIN to SSN Providing debit cards to fiduciaries Extension of the McGirt Decision to Civil Lawsuits By Scott Thompson A case pending in the Oklahoma Supreme Court, Paul-Lucas v. Paul, No. DF-122477, could have far reaching ramifications for businesses …

Settlement funds payable to minor – Title 12 O.S. § 83 It’s tax re(fun)d time Settlement funds payable to minors by Scott Thompson Would your bank open up an account solely in the name of a two-year old? I’m guessing probably not. It’s that issue that derailed a statute regarding minor settlements. In 2022, Oklahoma enacted the “Oklahoma Statutory Thresholds …

Welcome OBA’s General Counsel BOI deadlines in limbo Interagency Guidance on Elder Financial Exploitation Banker Q&As Unclaimed property and outstanding cashier’s check Monthly payment of flood insurance Right of rescission Deceased IRA owner, RMD Introducing the OBA’s new general counsel By Scott Thompson I would like to take this opportunity to introduce myself to the membership as the OBA’s newest …

Check your to do list By Pauli Loeffler Let’s review some of your annual compliance chores to ensure they are tidy and cared for. Security, Annual Report to the Board of Directors § 208.61 – The Bank Protection Act requires that your Security Officer report at least annually to the board of directors on the effectiveness of the security program. …

Vulnerable Adult Abuse, Neglect and Exploitation Report Perfection of security interest Lien entries on vehicles, manufactured Semi-trailers Purchase Money Security Interest, blanket filing Questions from our members Reg E LLC documentation Initial ARM notice Reconsideration of Value Questions (see also December 2024 Legal Briefs) By Pauli Loeffler Vulnerable Adult Abuse, Neglect and Exploitation Report In the September 2023 OBA Legal …