Oklahoma Bankers Association We make bankers better!
In This Issue… ABA study provides window into pre-COVID, post-COVID construction lending Abrigo’s PPP Forgiveness Platform can be helpful with SBA processes Oklahoma Views & Vistas Calendar available for discounted pricing through Aug. 31 OBA education corner …
July 2020
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July 22, 2020
Contact your senators: Ask them to co-sponsor PPP forgiveness bill
In last week’s OBA Update, we asked our bankers to contact Sen. Inhofe and Sen. Lankford to sign-on as co-sponsors to S. 4117. This bill would all small business that received PPP loans less than $150,000 to have blanket forgiveness. Loans of this size account for 86% of all PPP loans, but the total dollar amount of these loans make …
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July 22, 2020
Recording of fraud webinar with OBA’s Elaine Dodd available
The OBA’s Elaine Dodd conducted a banking fraud webinar in partnership with the Oklahoma Insurance Department and AARP Oklahoma as a part of the series, Hoodwinked: A Fraud Conference. Topics covered included: credit/debit cards, checking/savings, money mules, social engineering, sim swapping and pandemic scams. Bankers and/or customers should click here to view the webinar recording.
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July 21, 2020
Week of July 20
In This Issue… Department of Commerce provides next steps for Oklahoma Business Relief Plan Oklahoma Insurance Department/OBA virtual offering on banking fraud scheduled for tomorrow, July 22 at 10 a.m. Fed extends rule allowing directors, shareholders to apply for PPP loans 2021 Oklahoma Views & Vistas Calendar available for discounted pricing extended through Aug. 31 Check out OBA’s Strategic Members …
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July 20, 2020
Fed extends rule allowing directors, shareholders to apply for PPP loans
The Federal Reserve announced on July 15 that it would extend a temporary exemption from Regulation O to allow bank directors and shareholders to receive Paycheck Protection Program loans from their related banks. Reg O generally limits lending activity to bank directors, shareholders, officers and businesses owned by these persons. The exception—which applies only to PPP loans—will be extended through …
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July 18, 2020
Executive News: Taking your eyes off the ball
Just about every banker I know, and certainly every bankers’ trade association I know, has been up to his/her/their eyeballs in Paycheck Protection Program matters – loans, guarantees, forgiveness applications and so forth since April. Four separate pieces of legislation have been passed by this Congress dealing with the subject, followed by several sets of (very confusing) rules and regulations …
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July 18, 2020
Second phase of OBRP slated to start this month
The Oklahoma Department of Commerce announced a second phase of the Oklahoma Business Relief Program, which will begin later this month. Phase II of the OBRP is scheduled to begin at 8 a.m. on Tuesday, July 14. Another $50 million has been designated for use in the Program. Additionally, when sending in OBRP applications, the Department of Commerce mentioned frequent …
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July 18, 2020
PPP extended into August
The Paycheck Protection Program was extended through Aug. 8 after a measure passed through the U.S. Senate and House early this month and was signed by President Trump. The U.S. House of Representatives approved an extension of the Paycheck Protection Program on July 1, only hours after the U.S. Senate approved the measure to extend the Paycheck Protection Program. The …
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July 18, 2020
Oklahoma Bankers Hall of Fame taking nominations
The OBA will be taking nominations for 2020 Oklahoma Bankers Hall of Fame inductees through the middle of July. The Hall of Fame was created by the OBA Board of Directors to honor individual bankers for their contributions to the banking industry and the State of Oklahoma. In addition, the Hall of Fame is intended to recognize bankers’ achievements on …
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July 15, 2020
OBA needing bank info on Oklahoma Business Relief Program
The OBA is the process of collecting information from banks concerning the Oklahoma Business Relief Program. Specifically, we need to know the total number of applications your bank currently has on hand that were not submitted before the portal closed. We’d appreciate the info as soon as possible. Please email the OBA’s Adrian Beverage at adrian@oba.com, or reply to this …