IBAT's newest endorsement brings DELL to the doorstep of IBAT members, their employees and customers with discounted pricing and significant benefits. Bank and associate members with up to 100 employees can now access:
- Exclusive Member Discounts (2-35%) on Workstations, Servers, Printers, Desktops, Laptops, Ultrabooks, Tablets, Electronics and Accessories, Services and Software;
- DELL dedicated Territory Account Executive to provide support and bridge IBAT Members with appropriate DELL teams;
- IBAT Members’ call queue with inside sales reps to provide sales support to Territory Account Manager; and
- Access to technical experts from all brands and product lines within DELL (SecureWorks, Boomi, KACE, Quest, Gale Technologies, Wyse, Perot Systems, etc...).
To begin accessing discounted products and services from Dell, call or email Denney James (denney_james@DELL.com), DELL's IBAT Territory Manager at 512-728-8763. Denney is the key to register your bank with DELL's IBAT Customer Link Number: GS126658178.
Last week, the FHFA directed Fannie Mae and Freddie Mac to limit their future mortgage acquisitions to loans that meet the requirements for a qualified mortgage, including those that meet the special or temporary qualified mortgage definition, and loans that are exempt from the "ability to repay" requirements under the Dodd-Frank Act. Beginning January 10, 2014, Fannie Mae and Freddie Mac will no longer purchase a loan that is subject to the "ability to repay" rule, if the loan:
- is not fully amortizing,
- has a term of longer than 30 years, or
- includes points and fees in excess of three percent of the total loan amount, or such other limits for low balance loans as set forth in the rule.
According to the press release, this means Fannie Mae and Freddie Mac will not purchase interest-only loans, loans with 40-year terms, or those with points and fees exceeding the thresholds established by the rule.
The debit card surcharge prohibition bill, HB 3068 (Jose Menendez), is scheduled for Senate floor action as early as tomorrow. Business and Commerce Committee Chairman John Carona is the Senate Sponsor.
Please take a moment to call and/or email your member of the Texas Senate - right now - and let them know that this is an extremely important issue for your bank, that you strongly support this bill and you urge their support.
The various retailer/merchant interests are opposed, and will be attempting to defeat this bill. Additionally, one of the conservative groups opposed this bill in the House (interference with the free market), and may do so again as it goes to the Senate. Your grassroots communications with the House clearly made the difference. We need your involvement in this process to succeed!
This consumer-friendly bill will protect consumer choice at the point of sale and ensure that community bank debit cards are not discriminated against due to arrangements between retailers and the big banks. Full talking points for the bill are available to download here. When calling your Senator's office, please offer to forward this link or the downloaded document if they’d like further information.
Again, you may look up and access your Senator's phone number here.
As is customary, IBAT will provide a thorough review of the Texas Legislative Session via a webinar conducted by Karen Neeley and Steve Scurlock on June 25, from 3:00 PM until 4:30 PM.
There is no charge, and the program will be recorded for future reference. Additionally, our post-session white paper should be ready for distribution electronically prior to the program date.
We hope you plan to join us for an informative discussion on issues impacting the community banking industry. Click here to register for the webinar.
In order to provide additional clarification on the recently issued CFPB mortgage reforms, IBAT Regulatory Compliance Manager Kelly Goulart is releasing a series of white papers addressing each change contained in the seven major mortgage lending initiatives, six of which have been finalized by the CFPB (more or less).
The third part of the series, focused on the Ability to Repay (ATR) and Qualified Mortgage (QM) rules, is now available on the IBAT website.
Too big to fail (TBTF), and the need to end it once and for all received an additional boost from two Federal regulatory opinion leaders last week. Federal reserve Chairman Ben Bernanke and OCC Comptroller Tom Curry, while not formally endorsing the Brown-Vitter concept, came out swinging last week calling for the need for higher capital requirements for the nation's largest banks. The Brown-Vitter bill, S. 798, would mandate capital levels of 8% or greater for banks $50 billion and greater and 15% for banks with assets exceeding $500 billion. The legislation also eliminates Basel III requirements on community banks, which IBAT has advocated.
In Sunday's Washington Post, columnist Barry Ritholtz opines why the Brown-Vitter legislation has gone farther than any other legislative attempts to end too big to fail. "Simplicity. The most common message heard during the debate over Dodd-Frank was its complexity. The beauty of the TBTF act is its simplicity - hard numbers for capital reserves." Ritholtz also observes that the bill has broad ideological support among a broad cross-section of parties whose interests align with this legislation. A copy of the full Washington Post story can be found here.
ICBA has come out strongly in favor of Brown-Vitter. ICBA President Cam Fine observed "it's time to put the word 'free' back in 'free market.' Let's get the taxpayer subsidy out and level the playing field among TBTF banks and community banks."
The IBAT Board will consider endorsement of the bill in a special called telephone board meeting later today. IBAT President and CEO Chris Williston was recently quoted in several industry trade publications as saying, "the too big to fail debate is critical in our quest to obtain comprehensive regulatory relief for community banks. It highlights the disparity of bank business models and why we should not be subjected to the same regulatory overkill as the systemically important banks."
Compared with many of the recent headline-grabbing news stories, [last] week's spate of economic statistics seem like cause for elation. No murder, no mayhem, just a slow-leak in Ten Year prices to [Friday] morning's yield of 1.90%. A monster 10.5% year-over-year jump in home prices nationwide is at least partly responsible for the slow motion sell-off. According to CoreLogic's Home Price Index Report, the largest gains happened in the places that needed it the most; Nevada, California, and Arizona. Yipee-Ki-Yay! For the country as a whole this represents the biggest annual gain since March 2006 and the 13th consecutive monthly rise... Read more in the Baker Market Update.
As a result of our recent website migration, portions of IBAT2GO, the official mobile application of IBAT, are temporarily suspended. A new version of the app has been submitted to the Apple app store and we will notify you when Apple has approved it for download. Until then, the Legal Ease archive in the current version of IBAT2GO remains accessible.
Thanks for your patience as we make the necessary updates and please let us know if you have any questions.
Office of the Governor Rick Perry:
May 15 is observed as Peace Officer Memorial Day in Texas. According to Sec. 3100.065 of the Texas Government Code, the state flag should be displayed at half-staff on that day. The President has also issued an order that the US flag be flown at half-staff on that same day.
Therefore, all state and national flags should be flown at half-staff on Wednesday, May 15.
On May 3, 2013 IBAT launched the latest iteration of its Compliance Forum. The Forum is intended to be a place for IBAT members to share their most pertinent compliance questions and answers. To get started, all members will need to create an account, even if you have previously used the IBAT compliance forum. Here’s how you get started:
- Visit www.ibat.org/user/register.
- Choose a user name and then enter your email address, name, bank name and city and click the “create new account” at the bottom of the page.
- You’ll receive an email containing a link for one-time login. Click the link and confirm that you’re ready to update your password on the website.
- You’ll now need to create a unique password. The site lets you know how secure your password is, but there are no requirements for special characters, uppercase letters, etc.
- Once you create a password, you can set up the other options for your online profile (photo, signature for forum posts.
- Scroll to the bottom of the page and click “save.”
- You’ll be immediately authorized to view all content in the IBAT Compliance Forum and, within 24 hours, you’ll be approved to begin posting (this usually takes much less than 24 hours).
Representatives from the CFPB Office of Financial Education will be on hand July 25th to participate in an interactive session at the Financial Literacy Summit. The full-day seminar will provide attendees with the most recent actions and recommendations for advancing K-12 financial education.
To register for the upcoming Financial Literacy Summit click here.
In a ceremony on April 25, Robert A. Hulsey (American National Bank of Texas), Walter Johnson (Amegy Bank), Kenneth T. Murphy (First Financial Bank, N.A.) and the late Walter G. Lacy, Jr. (Citizens National Bank, Waco) were inducted to the Texas Bankers Hall of Fame at Sam Houston State University.
The banking program at Sam Houston State University established the Texas Bankers Hall of Fame in order to provide positive recognition to Texas Bankers. Through this medium, the university recognizes bankers who have made valuable contributions to the banking profession and are pioneers in shaping their respective banking institutions.
IBAT congratulates all the recipients and especially Robert Hulsey, a past Chairman of both IBAT and the IBAT Education Foundation.
Thanks to all who conducted bank PAC drives during the month of March. Thanks to your generosity and support, the IBAT PAC and IBAT FedPAC received more than $105,000 during the month!
Jefferson Bank in San Antonio was the lucky recipient of the PAC drawing and IBAT staff will travel to San Antonio in the near future to host a barbecue dinner with all the "fixins" for their guests.
Some of our members prefer to conduct their PAC Drives during other months of the year. For those of you who haven't had your PAC drive yet, you can still do so and be entered in next year's drawing. Better yet, if you host one before next March and then host one during March 2014, your bank will have two entries in the drawing in April 2014.
IBAT continues to be on the legislative and regulatory frontline with the Texas community banking industry as our only focus. We value and appreciate your support of our industry through contributions to the IBAT PAC and IBAT FedPAC.