The Utah Bankers Association, like the general public, is concerned about the growing spread of the coronavirus and the impact it will have around the country and here in Utah. The UBA is committed to sharing vital information and updates with the banking community and has created this Emergency Preparedness resource page for the coronavirus with various links that will be updated continually.
In the immediate term, UBA will encourage attendees at our meetings and events as well as staff to practice appropriate sanitary, safety measures and good health habits.
Getting Back to Business Resources
Frauds and Scams
Beware of Coronavirus Scams
All bankers can access these tools free without a subscription to Compliance Alliance. The Pandemic Tool Kit is continually being updated with more tools for all bankers to use.
Question of the Week:
Q: Are banks required to report SBA Paycheck Protection Program (PPP) loans to the credit bureaus? I thought that SBA 7(a) loans are required to be reported, but I don’t know if this extends to PPP loans.
A: You are right that there is a general requirement to report SBA loans. That being said, this requirement was not specifically cross referenced in the PPP rules, so it’s currently still not clear whether this requirement extends to PPP loans. While the intent does not appear to be to require institutions who currently do not report to begin the reporting process for PPP loans, the bank will ultimately have to make an internal judgment call until further guidance is issued.
Centers for Disease Control and Prevention
World Health Organization
Occupational Safety and Health Administration
Credential Papers for Essential Workers