Oklahoma Bankers Association We make bankers better!
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 …
August 2020
July 2020
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July 30, 2020
CFPB seeks input on preventing credit discrimination
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 …
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July 30, 2020
Contact your congressional delegation about PPP loan forgiveness
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 …
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July 28, 2020
Week of July 27
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 …
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July 22, 2020
Contact your senators: Ask them to co-sponsor PPP forgiveness bill
In last week’s OBA Update, we asked our bankers to contact Sen. Inhofe and Sen. Lankford to sign-on as co-sponsors to S. 4117. This bill would all small business that received PPP loans less than $150,000 to have blanket forgiveness. Loans of this size account for 86% of all PPP loans, but the total dollar amount of these loans make …
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July 22, 2020
Recording of fraud webinar with OBA’s Elaine Dodd available
The OBA’s Elaine Dodd conducted a banking fraud webinar in partnership with the Oklahoma Insurance Department and AARP Oklahoma as a part of the series, Hoodwinked: A Fraud Conference. Topics covered included: credit/debit cards, checking/savings, money mules, social engineering, sim swapping and pandemic scams. Bankers and/or customers should click here to view the webinar recording.
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July 21, 2020
Week of July 20
In This Issue… Department of Commerce provides next steps for Oklahoma Business Relief Plan Oklahoma Insurance Department/OBA virtual offering on banking fraud scheduled for tomorrow, July 22 at 10 a.m. Fed extends rule allowing directors, shareholders to apply for PPP loans 2021 Oklahoma Views & Vistas Calendar available for discounted pricing extended through Aug. 31 Check out OBA’s Strategic Members …
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July 20, 2020
Fed extends rule allowing directors, shareholders to apply for PPP loans
The Federal Reserve announced on July 15 that it would extend a temporary exemption from Regulation O to allow bank directors and shareholders to receive Paycheck Protection Program loans from their related banks. Reg O generally limits lending activity to bank directors, shareholders, officers and businesses owned by these persons. The exception—which applies only to PPP loans—will be extended through …
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July 18, 2020
Executive News: Taking your eyes off the ball
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 …
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July 18, 2020
Second phase of OBRP slated to start this month
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 …