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As the Small Business Administration works to resolve several issues with the Paycheck Protection Program, it issued a procedural notice this week outlining how it will move forward with the processing of second-draw PPP loan applications for borrowers who still have an unresolved issue related to their first-draw loan. “This is a timely issue that was discussed by the OBA’s …

The federal banking agencies on Jan. 19 issued a set of frequently asked questions providing clarity about suspicious activity reporting and other anti-money laundering issues. The agencies issued the FAQs at the recommendation of the Bank Secrecy Act Advisory Group, of which ABA is a member. The FAQs clarify existing expectations and do not establish new requirements. The agencies said …

The OBA is keeping its member banks appraised of all the latest Paycheck Protection Program information. Continue to follow the OBA’s OK Banker Directs and OBA Updates to get the most up-to-date information. You can also look back to archived issues of both these publications in case you missed one, or want to give it another look over! OK Banker …

The Graduate School of Banking at Madison, Wisconsin, is offering a couple of scholarship for the 2021 school year to a pair of its schools. GSB-Madison plans to award both the HR School scholarship and the Graduate Banking School scholarship in the coming months. Here’s additional info: HR Virtual School Scholarship — $700 The school will start April 12 and …

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 …

The calculation representing the nondeductible portion of member dues attributable to lobbying expenditures has been made for the OBA’s year ending April 30, 2020.

The 2021 Senior Management Forum dates have changed. The Forum will now be held June 20-22, at the Bellagio in Las Vegas. Keep an eye out for more information on this in the coming months! Contact the OBA education department with any questions about the Forum.

Friends of Traditional Banking has picked key close races each election cycle and encourage community bankers around the country to contribute what they can to help. Friends of Traditional Banking is a non-partisan grassroots effort organized by bankers in 2012 to improve the political and regulatory environment for the traditional banking industry in the U.S. FOTB is the inverse of …

The Small Business Administration tonight released a streamlined loan forgiveness application for Paycheck Protection Program loans of $50,000 or less. The forgiveness application, Form 3508S, includes certifications from the borrower but does not require calculations to be submitted with the application. Applicants must submit documentation verifying forgivable payroll and non-payroll expenses. Borrowers are required to retain the documentation supporting their …

Join fellow bankers and industry leaders from across the South Central United States for a virtual meeting with agency leadership and lawmakers. The OBA has partnered with the ABA and other state bankers associations for the South Central Regional Virtual Washington Visit, which is scheduled for Sept. 21-24. This year’s Washington Visit will ensure policies crucial to the banking industry …