Thursday, October 21, 2021

Week of Sept. 27

In This Issue…

SBA issues final rule regarding Paycheck Protection Program

The Small Business Administration has issued a final rule outlining procedures for appealing final SBA Paycheck Protection Program loan review decisions to its Office of Hearings and Appeals.

The final rule mostly adopts the procedures established in a previously issued interim final rule from August 2020, with minor changes. Most significantly, under the final rule, a timely appeal by a PPP borrower of a final SBA loan review decision will extend the deferment period of the PPP loan. Previously, a timely appeal did not result in deferral of payment under the PPP loan.

To read this article in its entirety, click here.

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Two Fed presidents announces early retirement under similar circumstances

Dallas Fed President Robert Kaplan and Boston Fed President Eric Rosengren announced their intentions to retire early after controversy over their stock holdings.

Both Kaplan and Rosengren announced they would sell their holdings to prevent the appearance of a conflict of interest. The Fed has purchased corporate bonds from mega-cap corporations such as Apple, and has conducted trillions of dollars in asset purchases targeted at helping markets function.

For more information on this story from CNBC, click here.

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Nondeductible portion of OBA dues calculated

The calculation representing the nondeductible portion of member dues attributable to lobbying expenditures has been made for the OBA’s year ending April 30, 2021.

The source of the information used to determine this percentage included the Association’s general ledger and an estimate of the percentage of time related to applicable personnel’s involvement with lobbying activities by management of the Association. BKD has reviewed the details involved in the calculation and have indicated it appears to represent the lobbying expenses for the year ending April 30, 2021.

As a result of these procedures, it has been determined the applicable percentage, as previously described to be 13 percent.

If you have any questions, please contact Lea Ann Jackson at the OBA.

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2021 Hall of Fame Luncheon & Induction Ceremony set for Dec. 2

The OBA is proud to announce the group of inductees for the Oklahoma Bankers Hall of Fame, with the ceremony set for Dec. 2 in Oklahoma City.

The luncheon and induction ceremony is scheduled for 11:30 a.m. on Thursday, Dec. 2 at the Oklahoma History Center, which is located at 800 Nazih Zuhdi Dr., in Oklahoma City.

If you are interested in attending the event, please RSVP by Nov. 26 to the OBA’s Nancy McKinnis (nancy@oba.com) or Joan Anderson (joan@oba.com) at 405-424-5252. The cost for an individual seat is $75 and $700 for a table of 10.

For sponsorship or congratulatory messages, please contact Thi Pham (thi@oba.com) at 405-424-5252.

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OBA education corner …

If you squint when you walk outside today, you can actually see autumn approach! No need to squint to see all the upcoming OBA education offerings, though! Take note of the following:

NOTE: Effective March 16, 2020, and until further notice, TTS (our webinar provider) has extended the OnDemand access period for all ‘Live Plus Five (Days)’ registrants to 60 days (versus five business days). Also, they are waiving the $75 per location fee for additional locations.

  • Signature Card Danger Zones, Oct. 4, webinar — This webinar is designed for customer service representatives, branch administration, branch managers, tellers, training and development staff, compliance personnel and anyone who handles customer accounts.
  • Legal Essentials for Lenders, Oct. 6, webinar — This program is designed for lenders, their support staff and loan quality personnel at all levels.
  • Federal Benefit Payments Garnishment Requirements, Oct. 7, webinar — This program is designed for compliance officers, legal counsel and financial institution personnel who process garnishment answers.
  • Performing Your ACH Audit and Tips for Your ACH Risk Assessment, Oct. 12, webinar — Spend this webinar with an ACH Auditor and hear what she looks for when performing the ACH Audit and ACH Risk Assessment.
  • Writing Teller Training and Procedures, Oct. 13, webinar — This webinar is designed for training, human resources, head tellers, supervisors, branch administration and tellers will be involved in writing and setting company procedures.
  • Marketing & Advertising Compliance — Two Part Series, Oct. 13, webinar — This webinar is an in-depth discussion of UDAP/UDAAP requirements – attention to unfair, deceptive, and abusive acts and practices (UDAAP). Plus – what may be considered abusive? How can you stay clear of trouble? Don’t miss the forest for the trees.
  • Loan Participants: What You Should Know, Oct. 14, webinar — This program is designed for loan officers, senior credit officers, senior loan officers, loan administrators, loan review officers, compliance officers, branch managers and credit analysts.
  • Strategic Planning for Financial Institutions – It’s All About Your Strategy!, Oct. 14, webinar — This informative session is designed for the Board of Directors, Leadership Team, Supervisors with planning responsibilities, Chief Risk Officers, and everyone involved in Strategic Planning process.
  • BSA Seminar, Oct. 14, Oklahoma City — The focus of this program is to provide an update to the BSA/AML emerging trends and hot topics. The program will provide valuable information and networking opportunities which will help you enhance your BSA Compliance Program and to help prepare for your next BSA examination and audit.
  • 2021 HMDA/Fair Lending Seminars, Oct. 26-Tulsa (HMDA/Fair Lending); Oct. 27-Oklahoma City (HMDA/Fair Lending) — These are separate seminars each day, with HMDA taking place in the mornings and Fair Lending in the afternoon: You can register for one separately, or for both.
  • 2021 Power of Attorney Accounts Update, Oct. 28, Oklahoma City — The purpose of this seminar is to deconstruct these sometimes complex legal documents to help you understand precisely what you need to know to properly deal with powers of attorney under Oklahoma law. We’ll cover the Oklahoma statutes with special emphasis on the new Power of Attorney Act that is effective November 1, 2021. This seminar will help you understand how powers of attorney work, what language to look for, and how to avoid problems.
  • 2021 Operations School, Nov. 15- 19, Oklahoma City — The Oklahoma Bankers Association’s Operations School is designed to prepare junior-level officers to mid-level operations managers to manage effectively and efficiently an operations function within a bank. Students are exposed to numerous concepts that impact your bank’s bottom line.

 

Also, the Department of Agricultural Economics at Oklahoma State University is hosting the Rural Economic Outlook Conference on Oct. 13 in Stillwater. A large lineup of speakers are set for the conference this year. You can find out more information, and register, by clicking here.

Finally, mark your 2022 calendars for all the upcoming schools offered by the OBA!

  • Intermediate Banking — Feb. 7-11; June 6-10.
  • Commercial Lending — March 6-11.
  • Compliance — Aug. 22-26.
  • Basic Banking — Sept. 12-15.
  • Consumer Lending — Oct. 3-7.
  • Operations — November 14-18.

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