Oklahoma Bankers Association We make bankers better!
In This Issue… Be sure to return your bank’s Hall of fame ballots Fed releases final guidelines for access to payments systems OBA Emerging Leaders Academy accepting applications Endorsed Partner Office Depot rebrands as ODP Business Solutions OBA education corner … Be sure to return your bank’s Hall of Fame ballots Your bank should have received – or will soon …
August 2022
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August 12, 2022
CFPB warns non-bank financial businesses about data security
The Consumer Financial Protection Bureau published a circular on Aug. 10 explaining that non-bank financial firms – such as fintech companies and credit reporting agencies – may violate the Consumer Financial Protection Act’s prohibition on “unfair acts or practices” if they fail to protect sensitive consumer financial information. The circular notes that insufficient data protection may also violate the Gramm-Leach-Bliley …
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August 11, 2022
Executive News: Looking ahead to last-minute legislation
Well, here we are: In my opinion, this is the most dangerous time for any industry. We are within weeks of the first round of midterms for President Biden. History will tell you if Congress is controlled by the same party as the president, it will suffer a loss of congressional seats and usually control of the House. The current …
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August 11, 2022
‘Banks are safe’ PSAs available
The Oklahoma Bankers Association has created “Banks are safe” public service announcements for its member banks, both in advertising form as well as in story form, ready for display at the bank or for insertions into local newspapers. These free ads and stories echo the Association’s successful “Nothing’s Safer Than Money In The Bank” public relations campaigns from the past …
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August 11, 2022
State Banking Department addresses Skip-A-Payment
The Oklahoma State Banking Department issued a statement this weekend concerning the FDIC’s position on the Skip-A-Payment program. The OSBD has yet to receive any complaints on the program, although the FDIC has recently determined it is “unfair and deceptive” unless accompanied by “clear and adequate disclosures. Below is the full statement from the OSBD: We understand the FDIC’s position …
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August 11, 2022
FDIC releases advisory on insurance, crypto
The FDIC issued an advisory to banks in late July regarding what it says are misrepresentations by some cryptocurrency companies that their products are eligible for FDIC deposit insurance coverage or that customers are FDIC-insured if the crypto company fails. “Over the past several months, some crypto companies have suspended withdrawals or halted operations. In some cases, these companies have …
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August 11, 2022
OBA Emerging Leaders Academy now accepting applications
Take note the OBA 2022-23 Emerging Leaders Academy is currently accepting applications. We’re looking for the best and brightest bankers who seek to sharpen their leadership skills. The Academy will help you reach new heights with powerful speakers offering information leaders need for effectively maneuvering in today’s business climate. Each session helps participants become true leaders by understanding those around you through …
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August 10, 2022
OBA partners with ABA, CUNA, other state bankers associations to oppose credit card routing mandates
In a letter sent to the entire House and Senate, a coalition made up of 51 state bankers associations and state credit union associations and leagues from across the country joined the American Bankers Association and Credit Union National Association in strongly urging lawmakers to oppose Sen. Roger Marshall’s and Sen. Dick Durbin’s deeply flawed “Credit Card Competition Act of …