Wednesday, April 21, 2021

February 2021

  • February 16, 2021

    OBA offices closed, staff remains available for assistance

    The OBA offices will be closed on Wednesday and Thursday for the safety of our staff in the wintry weather. We remain available to assist our bankers, however, and you can reach our staff through our emails or cell phones. Roger Beverage (president & CEO) — roger@oba.com; 405/850-0695 Adrian Beverage (government relations) — adrian@oba.com; 405/323-2819 Lea Ann Jackson (accounting/operations) — …

  • February 16, 2021

    Legal Links

    Legal Briefs Index Compliance News Links Federal Regulatory Agencies FFIEC’s BSA/AML Examination Manual Cross-reference Index for 31 CFR Part 103 to 31 CFR Chapter X News from the FDIC OCC’s: What’s New Federal Reserve’s: What’s New CFPB – Policy and Compliance home page: Law & Regulation for Examination Manual, Notice and Comment, Guidance Documents, etc. State Regulatory Agencies Oklahoma State Banking …

  • February 16, 2021

    February 2021 OBA Legal Briefs

    Closing accounts for the undesirable customer Military lending rules have teeth Closing accounts for the undesirable customer By Andy Zavoina Some language in this article may be considered offensive by some readers but is taken from the court documents and has not been “softened” to accurately portray the treatment some bank staff endured. The severity of the language may help …

  • February 16, 2021

    Week of Feb. 15

    In This Issue… OBA offices closed, staff remains available for assistance Get free personalized PSAs encouraging community to vaccinate OBA education corner … OBA offices closed, staff remains available for assistance The OBA offices will be closed on Wednesday for the safety of our staff in the wintry weather. We remain available to assist our bankers, however, and you can …

  • February 12, 2021

    Emergency closing requirements for state-chartered banks highlighted by State Banking Department

    Section 603 of the Oklahoma Banking Code provides authority to the officers of a bank or credit union to close the institution (or one or more of its facilities) when an emergency exists – which could include the upcoming winter storm. Notice must be given to the Oklahoma State Banking Department when the bank decides to close because of an …

  • February 12, 2021

    Fed extends rule allowing bank directors to apply for PPP loans

    The Federal Reserve Board announced Tuesday that it is temporarily allowing certain bank directors and shareholders to apply to their banks for PPP loans. This is the second extension of the rule and will allow those individuals to apply for PPP loans. The extension, which is applicable only to PPP loans, is effective immediately. This extension applies to PPP loans …

  • February 10, 2021

    Executive News: Well, it’s Groundhog Day … again

    Have you ever been to Punxsutawney, Pennsylvania? Yeah, me either. But I know what the town is all about: Groundhog Day! It’s a cultural superstition brought to this country by early Dutch settlers long ago. Nasty little critters, groundhogs are, I’m told by my Pennsylvania friends. The idea is the desi gnated groundhog for the day is roused from his …

  • February 10, 2021

    Vaccine PSAs available for banks

    The Oklahoma Bankers Association has created COVID-19 vaccine-related 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, themed as “Nothing’s Safer Than Money In The Bank … Except For The COVID-19 Vaccine”, echo the Association’s …

  • February 10, 2021

    Oklahoma banks post big numbers in latest PPP round

    Since the Paycheck Protection Program reopened last month for the third round, Oklahoma banks have made the majority of more than 27,000 loans worth more than $1.3 billion in the state thus far. These numbers represent the 8th and 18th most, respectively, among all the states.Nationally, 891,044 loans have been made to date in round three, totaling nearly $73 billion, …

  • February 10, 2021

    SBA updates PPP interactions

    The Small Business Administration announced this morning it is taking additional steps toward improving the speed to resolve data mismatches and eligibility concerns so small businesses have as much time as possible to access much-needed PPP funds, while maintaining the integrity of the program. Three changes were mentioned by the SBA: 1. Enable lenders to directly certify eligibility for borrowers …