Thursday, September 21, 2023

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What to know about new data breach notification requirements

Given the omnipresent concern about cyber attacks targeting the banking industry, the FDIC, OCC and Federal Reserve recently published a new joint final rule establishing enhanced security incident notification requirements for banking organizations and their service providers. The final rule is designed to improve the sharing of information about cyber incidents that may impact the nation’s banking system and requires banks to …

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Compliance Update seminars in Oklahoma City rescheduled

Due to the winter storm expected in our state, this week’s Compliance Update seminars in Oklahoma City have been rescheduled. The new date for the seminars is Thursday, Feb. 17, with the location still being the Harris Event Center at the OBA offices in Oklahoma City. If you have any questions about this change, don’t hesitate to contract the OBA’s …

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Credit market expectations for businesses, consumers confirm solid economic outlook

Bank economists expect credit conditions to continue improving for both consumers and businesses over the next six months, according to the American Bankers Association’s latest Credit Conditions Index released on Jan. 25. The latest summary of ABA’s Credit Conditions Index examines a suite of indices derived from the quarterly outlook for credit markets produced by ABA’s Economic Advisory Committee (EAC), which …

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OBA Intern Program ready for 2022

An OBA program to be aware of is the OBA Intern Program. The Intern Program will be active in 2022 and we’re looking for participating banks! For more information on this IMPORTANT program – important not only to aspiring students, but also to participating banks – Contact the OBA education department at (405) 424-5252 or click here for more information!

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Federal Reserve Bank of Kansas City Releases Fourth Quarter Energy Survey

The Fourth Quarter Energy Survey was released on Jan. 7 by the Federal Reserve Bank of Kansas City. The survey found that energy activity in the Tenth District climbed moderately from a quarter ago and increased further from year-ago levels, according to Chad Wilkerson, Oklahoma City Branch CEO and economist at the Federal Reserve Bank of Kansas City. Future activity …

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Banks notice rise in fraud, associated costs in 2021

According to a new survey from LexisNexis Risk Solutions, banks experienced more monthly fraud attacks in 2021 than the previous year. The data determined that the average number of monthly fraud assaults for banks with annual turnover of more than $10 million has climbed from 1,977 to 2,320 since 2020. To read the full report from LexisNexis, click here.

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FDIC chairperson announces resignation

FDIC Building

FDIC Chairperson Jelena McWilliams announced her resignation today via a letter to President Joe Biden. McWilliams, a Republican, was named the 21st chairperson of the FDIC in June 2018 after being appointed by then-President Donald Trump. Her official departure has been set for Feb. 4, with FDIC board member Martin Gruenberg reported to become acting chairman – his third stint …

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Merry Christmas, happy holidays from OBA!

The OBA staff wishes you and yours a merry Christmas and happy holiday season! Adrian Beverage | Joan Anderson | Jeremy Cowen | Elaine Dodd | Kathryn Donovan | Judy Hanna | Lea Ann Jackson | Debbie Leake-Morris | Megan McGuire | Nancy McKinnis | Payton Moody | Thi Pham | Janis Reeser | Niki Taylor | Sheila Wyatt

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Small business optimism index increases in November

In November, the NFIB Small Business Optimism Index rose 0.2 points to 98.4. The Uncertainty Index fell 4 points to 63 points. Business owners intend to generate new employment at a seasonally adjusted net 25.0%, down 1 point from the previous month. The percentage of business owners who believe now is a favorable time to expand remained unchanged from the …

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