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Reg Z’s business day definitions Advance Child Tax Credits and closed accounts 2021 Oklahoma legislation—Part I Reg Z’s business day definitions By John S. Burnett Why Juneteenth caught lenders unprepared Congress clearly doesn’t know (or care?) that two days’ notice isn’t enough to give lenders when they pass legislation creating a new federal legal public holiday. The kerfuffle that erupted …
August 2021
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August 13, 2021
Results compiled from OBA vaccine survey
The OBA sent out last week a short survey about the COVID vaccine and whether our member banks have, or plan to have, a mandate for their employees. We wanted to share the results of the non-scientific survey with our members. Here are the results: (answers | percentage of total answers) Q1: Does your bank have a COVID vaccine mandate …
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August 10, 2021
Week of Aug. 9
In This Issue… Results compiled from OBA bank vaccine survey CareerTech looks to partner with banks on apprenticeships 2021 versions of banking code, trust books available OBA education corner … Results compiled from OBA bank vaccine survey The OBA sent out last week a short survey about the COVID vaccine and whether our member banks have, or plan to have, …
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August 4, 2021
OCC gives additional exam procedures for remittance transfers
The Office of the Comptroller of the Currency issued on Monday supplemental examination procedures on remittance transfers covered by Regulation E. The supplemental procedures align the OCC’s supervisory approach with amendments to Reg E by the Consumer Financial Protection Bureau that took effect July 21, 2020. The Reg E amendments permanently allow depository institutions to estimate certain fees and exchange …
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August 3, 2021
Week of Aug. 2
In This Issue… Information about Advance Child Tax Credits deposits into closed accounts Tax commission seeks feedback on ELT system OCC gives additional exam procedures for remittance OBA Bankers’ Night Out programs ready for fall OBA education corner … Information about Advance Child Tax Credits deposits into closed accounts The OBA’s compliance department wants banks to be aware the IRS …
July 2021
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July 28, 2021
SBA allows direct PPP forgiveness, bypassing banks
Politico reported today the SBA plans to outline a new initiative aimed at encouraging borrowers with loans of $150,000 or less — accounting for more than 90 percent of the pandemic-era program — to apply for loan forgiveness. According to the report, the SBA will notify banks that the agency is setting up its own online, consumer-facing forgiveness platform. Rather …
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July 27, 2021
Week of July 26
In This Issue… Tenth District services, manufacturing activity show increases 2021 Oklahoma Banking Code Book available for purchase OBA education corner … Tenth District services, manufacturing activity show increases Tenth District services activity, as well as manufacturing activity, rose in July, and expectations for future activity remained positive, according to joint releases from the Oklahoma City Federal Reserve late last …
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July 23, 2021
SBA offering webinar on changes coming to the PPP Forgiveness Portal
Dustin Allen with the SBA’s Oklahoma District Office would like to invite all Oklahoma lenders to attend a webinar on changes coming to the PPP Forgiveness Portal. This update will focus on the new Direct Forgiveness process and how lenders can opt in. The webinar will be held on Monday, July 26 at 10 a.m. and should last 30-45 minutes. …
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July 21, 2021
BMA Banking Systems
BMA’s vision provides an insight to our culture; Simplicity, agility, and humanity at the core. This means that we empower independent community banks with the systems and support that you need to grow and serve your communities. For over 40 years our core platform, IT services, API ready, and a personally assigned client success manager will partner with you for …
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July 20, 2021
July 2021 OBA Legal Briefs
Vacations — Required or recommended Vacations – Required or recommended By Andy Zavoina We last wrote about vacation time in the September 2019 Legal Briefs. That was a short article on the recommended necessity of taking consecutive days off. After a year of COVID-19 and everyone being couped up, summer 2021 stands to be a record as people can finally …