Saturday, April 10, 2021

OKBanker Direct

Oklahoma Banker Direct

January 2021

  • January 10, 2021

    SBA releases technical information for PPP system

    The SBA released technical information tonight that lenders will need to access the updated Paycheck Protection Program loan portal system. The portal opens Monday but only for “community financial institutions,” which mean CDFIs, MDIs, certified development companies and microloan intermediaries. The first part released tonight contains information regarding API technical information. The second part is the SBA Paycheck Protection Platform …

  • January 8, 2021

    PPP to open for First Draw loans on monday

    Earlier this morning, the Small Business Administration and U.S. Treasury announced the Paycheck Protection Program will re-open next week for new and existing borrowers. Initially, only community financial institutions will be able to make First Draw PPP Loans on Monday, Jan. 11, and Second Draw PPP Loans on Wednesday, Jan. 13. The PPP will open to all participating lenders shortly …

  • January 8, 2021

    Common questions answered about PPP reopening

    Here are additional details from the SBA’s Dustin Allen regarding the Paycheck Protection Program reopening set for next week. 1. There hasn’t been an application released yet for either of the new PPP loan options. We know there will be one released for the Second Draw PPP loans due to the program changes. We are waiting on further guidance on …

  • January 7, 2021

    Details, rules released for upcoming PPP launch

    The Small Business Administration and U.S. Treasury late last night released initial guidance documents for the upcoming next round of the Paycheck Protection Program. Community financial institutions will be able to submit loan applications for the PPP for at least two days before other lenders. Unfortunately, however, the SBA did NOT set a date on which it will reopen the …

December 2020

  • December 23, 2020

    Associations working to clarify frontline bank employees’ position in COVID-19 vaccination queue

    This morning, the Alliance of State Bankers Associations, working through and with the ABA, received news about COVID-19 vaccination priorities. “Earlier today the Center for Disease Control and Advisory Committee on Immunization Practices voted on the prioritization of those who will receive the COVID-19 vaccine in Phases 1b and 1c,” said Adrian Beverage, OBA’s incoming president & CEO. “Two changes …

  • December 23, 2020

    Compliance Alliance releases action plan for SolarWinds issue

    The Compliance Alliance has released an action plan in response to the cyberattacks that have compromised SolarWinds’ Orion Network Management Products and, thus, has posed a possible risk to the security of banks. The SolarWinds Data Breach Action Plan, from Compliance Alliance, can be downloaded by clicking here (.pdf).

  • December 21, 2020

    Congress reaches deal on stimulus spending package

    Congressional leaders reached a deal Sunday night on a roughly $900 billion spending package to bolster the U.S. economy amid the continued coronavirus pandemic. While the legislative text has not yet been released, the deal reportedly includes $284 billion in new funds for the Paycheck Protection Program, including a second draw option for prior PPP borrowers, and a new round …

  • December 14, 2020

    Answering questions about president’s Christmas Eve executive order

    The executive order recently signed by President Trump concerning Christmas Eve has raised questions about if Dec. 24 is now a full-fledged holiday. The OBA compliance team looked close at the order and have discerned it is NOT a holiday, but instead is simply allowing many federal employees the day off. Here is the summation from our compliance team, and how it …

  • December 10, 2020

    OBA names successor for president/CEO position

    OBA Chairman Rick Walker has a special announcement for all OBA members. His letter is below: Dear OBA members, In 2019, the OBA Board of Directors nominated a 10-member succession committee to begin the process of selecting a new leader for the OBA before Roger Beverage’s impending retirement in 2021. That committee, headed by Sandy Werner, ultimately selected the leadership …

  • December 9, 2020

    Banking associations ask for extension of CARES Act

    The Oklahoma Bankers Association, the American Bankers Association and 50 other state and territorial bankers associations, co-signed a letter today to several congressional leaders thanking them for their leadership and support throughout the COVID-19 pandemic and urging them to extend the CARES Act. The letter, addressed to Sen. Mike Crapo (R-Idaho), Sen. Sherrod Brown (R-Ohio), Rep. Maxine Waters (D-Calif.) and …