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In This Issue… President Trump signs Paycheck Protection Program Flexibility Act OBA, State Election Board hosts press conference announcing plan to aid absentee voters OBA education corner …

The Oklahoma Bankers Association and the Oklahoma State Election Board held a joint press conference on June 5 to announce a plan for banks across the state to offer free absentee voting services to all Oklahoma voters. “Community banks across Oklahoma are excited for the opportunity to make absentee voting easier for all Oklahomans,” OBA Chief of Staff/EVP Adrian Beverage said. …

Bankers garnered a strong bipartisan group of U.S. representatives to co-sign a letter urging senators to approve the PPP Flexibility Act prior to its passage on Wednesday. Oklahoma fifth district representative, Kendra Horn, was one of the co-signers of the letter, which reached the Senate shortly before it passed the bill via voice vote. We’d like to thank Rep. Horn …

The Senate passed legislation this afternoon to help businesses get their Paycheck Protection Program loans forgiven and lengthening the time they have to use the funds. You can read more about the details of the bill in the OK Banker Direct sent on May 28 after the bill passed the U.S. House of Representatives. https://www.oba.com/2020/05/28/house-passes-ppp-flexibility-act/ The bill passed by voice …

In This Issue… OBA partners with State Election Board to aid absentee voters OBA asking for responses to two short surveys Check out OBA’s Strategic Members Covid-19 Resource Page OBA education corner …

The Oklahoma Bankers Association, along with the Community Bankers of Oklahoma and the Oklahoma Credit Union Association, is partnering with the State Election Board to encourage the state’s financial institutions to aid absentee voters this election season. The OBA is asking its banks to provide one or more of the following services for free to absentee voters this year: • …

The following information comes courtesy the ABA: The Small Business Administration late Friday night released much-anticipated interim final rules describing the loan forgiveness process, as well as lenders’ and borrowers’ responsibilities, for the Paycheck Protection Program. For PPP loans to be forgiven under the rules, lenders must confirm they received the borrower certifications in the loan forgiveness application form and …

The U.S. House of Representatives approved this afternoon new legislation to simplify businesses having their Paycheck Protection Program loans forgiven and lengthening the time they have to use the funds. The bill would extend the forgiveness period for PPP loans from eight to 24 weeks and reduce payroll spending requirements from 75% of loan funds, to 60%. The House passed …

In This Issue… This week’s OBA call with bankers available for download OBA recommends Abrigo PPP Forgiveness & Administration solution SBA issues rules on PPP forgiveness, lender responsibilities OBA education corner …

It may be a new beginning as consumer patience wears off and people begin to venture out to test the waters. Some of us recognize the difference between previous recessions (usually they begin in a sector, like energy or agriculture) and this one. Right now, consumers are on the front lines o f the current recession (no jobs, no income, …