The Small Business Administration has released its platform user guide for forgiveness applications, and the forgiveness portal will be up and running on Monday. Several bankers have called us and said they are ready to start submitting the forgiveness applications they’ve already processed on Monday, especially those working with companies like OBA’s endorsed vendor Abrigo, where approved applications have been …

Updated Aug. 4, 2020  As of June 1, Oklahoma entered Phase 3 of the reopening process, which removed limits on group gathering sizes. However, the OBA is still limiting enrollment for live events to allow for social distancing. In the best interest of everyone involved, we will follow the guidelines below for indoor live events: Please enter and exit the …

In This Issue… Answer leadership’s call: OBA Emerging Leaders Academy accepting applications OCC issues rule on account withdrawals from collective investment funds Check out OBA’s Strategic Members COVID-19 Resource Page OBA education corner …

All of our Oklahoma banks have been doing a great job of detecting and returning ACH funds received on COVID-19-related unemployment scams. This has not abated, but just hits different states in waves. Arizona, Nevada and Illinois have been among the many states hit the hardest right now. OBA has sent out keyword lists to help watch for these items …

The Consumer Financial Protection Bureau issued a request for information seeking on ways to create a regulatory environment that expands access to credit and ensures consumers and communities are protected from discrimination in all aspects of credit transactions. The bureau issued the RFI in lieu of a symposium it planned to host this fall on issues related to the Equal …

Here’s what your OBA is currently doing to help your small business customers: PPP Loan Forgiveness of all PPP loans less than $150,000 Over the past 10 days, the OBA has been working with our congressional delegation, asking it to co-sponsor two bills, one in the Senate (S. 4117) and now one (H.R. 7777) in the House of Representatives. So …

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 …

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 …

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 …

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 …