OKBanker Direct

April 2020

• April 9, 2020

  SBA code for Oklahoma district office is 0680

  Many bankers have asked where they can find their SBA Code/Authorization code. The SBA has just confirmed that the “Authorization Code” is the local SBA District Office Code. The SBA Office Code for the Oklahoma District Office is 0680.
• April 6, 2020

  PPP system down to make system upgrades

  The OBA just received word the PPP system is temporarliy down to make system upgrades. We are told it will be back up soon; however, we do not know an exact time frame. Keep sending us (roger@oba.com; adrian@oba.com) questions about any issues that are making it difficult to participate in the PPP and we’ll do our very best to get …
• April 4, 2020

  FAQs regarding participation of faith-based organizations in the PPP and EIDL

  There have been many questions regarding participation of faith-based organizations in the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDL). Click here to view an SBA document addressing frequently asked questions.

November 2019

• November 7, 2019

  CFPB director to meet with OBA-member banks

  (includes updated time) CFPB Director Kathy Kraninger will make her first visit to Oklahoma City on Nov. 14 to do a number of things, which includes a briefing with OBA-member banks. The meeting will be held at 10:30 a.m. on Thursday, Nov. 14 in the conference room at Valliance Bank, which is located at 1601 NW Expressway, Oklahoma City, OK …

October 2019

• October 30, 2019

  USDA issues interim final rule on hemp production

  (Information courtesy of ABA) The U.S. Department of Agriculture on Tuesday issued an interim final rule establishing new regulations and procedures for the legal production of industrial hemp, as required by the 2018 Farm Bill. The Farm Bill reclassified hemp as a legal agricultural commodity, but questions remained, including those related to banks’ ability to serve hemp producers and hemp-related …

September 2019

• September 26, 2019

  Oklahoma delegation splits on cannabis-related legislation

  Last night, we distributed a Banker Direct in which we included the news about the U.S. House of Representatives’ passage of H.R. 1595, the SAFE Banking Act. The bill was placed on the suspension calendar (meaning it was non-controversial) and passed 321-103, with nine members not voting. We were able to access the vote tally late last night and the …
• September 25, 2019

  SAFE Banking Act passes House

  The U.S. House of Representatives passed the SAFE Banking Act earlier today in a 321-103 bipartisan vote. The Act would help legal cannabis-related businesses gain access to banks without punishment from federal banking regulators. The bill would also help banks meet the needs of their communities while also reducing the possibility of cash-motivated crimes at marijuana-related businesses because of their …
• September 19, 2019

  OBA Bankers’ Night Out programs start next week!

  Need a night out with good food and company? The OBA will be able to sate those needs with its fall version of the ever-popular Bankers’ Night Out programs, which start next week! Mark your calendar for the date of the program that’s in your area of the state and plan to attend. Bring your coworkers with you so that …

August 2019

• August 5, 2019

  Fed announces it will develop real-time payments system

  The OBA has been at the forefront of a nationwide effort to encourage the Fed to decide whether it would develop its version of a real-time payments in the U.S. We’ve made the position known since last year and, like our colleagues, we believe every bank in the country and their customers will benefit from a seamless, ubiquitous real-time payments …

June 2019

• June 26, 2019

  Report finds credit unions lacking on mission to serve low-income households

  As a follow up to Tuesday’s OBA Update, we wanted to make sure our bankers took note of the new study that found credit unions fall short of their mission to serve low-income or “small-means” households. Credit unions enjoy many benefits, most notably a federal tax exemption. Many of these benefits stem from the original mission of credit unions to …