Tuesday Topic: All PPP, All the Time

We still haven't opened our lobbies.  Arkansas is experiencing a Covid spike, as I expect the whole country will, with everything going on.  I wouldn't attend a convention, rally, concert, or any event where people are mingling closely. It's really sad that this hurts businesses which I'm sure need the revenue.

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Mary Fowler
Chief Executive Officer
The Peoples Bank
Magnolia AR
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Original Message:
Sent: 06-15-2020 12:44
From: Barb Rehm
Subject: Tuesday Topic: All PPP, All the Time

This is a busy week with Fed Chair Jay Powell delivering his semi-annual report to Congress and the FDIC publishing its quarterly bank profile. But the Paycheck Protection Program continues to attract a ton of attention. This story about a bank in Virginia being sued by a spurned borrower is scary, and I wonder if it's a tip of an expensive iceberg. Meanwhile business owners – and their banks – continue to grapple with a complicated loan-forgiveness process, while House Democrats push to make forgiveness easier for smaller borrowers. The SBA made some more changes to its rules, and pretty much everyone wants the Treasury Department to publish more details on the businesses that received PPP funding. On a separate note, I wonder how many of your state associations are holding in-person meetings this summer – and whether you plan to attend? I noticed the West Virginia Bankers Association plans to go ahead with its 127^th annual convention in late July, and it made me wonder how many of you would go to your state's annual meeting?

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Barb Rehm
Senior Managing Director
Promontory Interfinancial Network, LLC
Arlington VA
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