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All words and phrases in blue in this newsletter are links to more information!
 Earlier this week, we sent you a Special Compliance Bulletin relating to disclosures for vendors and bidders on government contracts, including depository contracts. In cased you missed it, here's the link.
IRS to Tax State Credit Unions' Unrelated Income - The Internal Revenue Service reportedly will tell its examiners that state chartered credit unions should consider income from insurance sales and certain nonmember ATM fees to be unrelated business income for tax purposes. The industry had urged taxation of credit unions' unrelated income at a recent hearing of the House Ways and Means Committee.
NCUA Imposes Moratorium on Certain Credit Union Expansions - The National Credit Union Administration has called a halt to single common-bond and community credit unions expanding into underserved areas outside their fields of membership or communities. The moratorium, pending completion of an internal review of membership rules, comes after the agency was sued for allowing a Utah credit union to expand.
| LEGAL EASE QUESTION OF THE WEEK |
Can the bank charge a Tax Service Fee charged by a third party company that will monitor the payment of taxes through the life of the loan on any 'first or second' lien loan secured by the residence, including home equity loans/lines, home purchases or home improvements? To find out the answer, click on the flashing question mark. You can also check out our growing database of other Q&As!
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We would like to recognize and thank our sponsors for the IBAT Winter Summit VI, January 29-31.
 Have you asked yourself “what is a bond” or “what is the difference between an agency bond and a mortgage backed security?” If so, then make plans to attend the IBAT Investment Basics Summit on February 23 in San Antonio. This one-day seminar will go over bond basics, types of bonds and basic analysis and portfolio management.
IBAT Supports Bank Advisory Group Director Conference - IBAT is pleased to support our friends at the Bank Advisory Group as they host a Community Bank Directors Conference March 23 and 24 in Austin. Click here for complete program and registration information.
 For a complete listing of upcoming events, click here. Meanwhile, please mark your calendar for some of our key events for 2006.
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February 13-14, 2006 - The Woodlands |
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Women In Banking Conference
April 27-28, 2006 - San Antonio |
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Bank Marketing Institute
April 30-May 2, 2006 - Dallas |
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Leadership Conference
June 15-17, 2006 - Galveston |
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IBAT 32nd Annual Convention
October 1-4, 2006 - San Antonio |
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Bank Operations Institute
October 8-13, 2006 - Dallas |
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