| ON THE HILL |
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TAX LEGISLATION
The House has moved expeditiously in passing a suite of bills changing state taxes to address school finance. For banking, the key bill is HB 3, which substitutes a gross receipts tax for the franchise tax. IBAT staff has worked tirelessly to assure that the exclusion for income from federal obligations was inserted into the bill. In addition, we are working collaboratively with interested parties to suggest other enhancements. Our primary concern is the effect of the bill language on the apportionment calculation. Additionally, credit unions will be exempt from this tax due to limitations in federal law, which creates further aggravation. The Senate Finance Committee is working on this issue over the weekend, and the bills are expected on the Senate floor on Wednesday. Additional information is available on our website. Stay tuned.
LEGISLATIVE UPDATE
IBAT is busy not only with the Special Session on taxation but also in participating actively in interim studies. On Tuesday, IBAT’s counsel Karen Neeley and associate member Cynthia Shea participated in a hearing before the House Business & Industry and State Affairs Committees. While the stated agenda item was ID theft, the matter on the table was improved reporting of check theft/forgery to check verification companies. Rep. Giddings, who was herself a victim of ID theft last year, suggested that affected industries should develop a solution to assure prompt correction of check fraud information or else...the legislature would develop its own solution!
Meanwhile, the federal banking regulators have finally published an advanced notice of proposed rulemaking (not even a proposed rule!) on furnisher responsibilities under the FACT Act. Remember that federal law already requires furnishers of information to consumer reporting agencies (read credit bureaus and check verification systems) to update their data as well as to respond to consumer disputes. |
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| LEGAL EASE QUESTION OF THE WEEK |
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Can we remind customers about their overdraft privilege amount on our checking account statements?
To find out the answer, click on the flashing question mark. And you can also check out our searchable database of other frequently asked questions. |
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| BEST OF COMMUNITY BANKING COMPETITION |
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You should have received your entry brochure for the 2006 Best of Community Banking Awards competition. The deadline for entries will be June 23, 2006 at 5:00 PM. Highlight the hard work of your staff and your bank’s accomplishments by submitting an entry in this year’s contest.
Thanks to our sponsors for making this competition possible:
BKD, LLP
Computer Services, Inc.
The Data Center
The Genesis Group
Loan STAR
MCoUSA
Rogers-Ford Architects
Winners in this year’s competition will receive their awards during the IBAT Education Foundation Gala in October at the Westin La Cantera Resort in San Antonio. Click herefor an Entry Form and additional information. |
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| 100 YEAR ANNIVERSARY |
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IBAT would like to congratulate the Blanco National Bank on the occasion of its 100th Anniversary commemorating its past and the beginning of another century of service to the community. The IBAT Board of Directors and staff congratulates Chairman and CEO Charles Pratt and President Mark Tidwell, Jr. along with the directors, officers and employees on this important milestone for the citizens of Blanco and the community banking industry. For a history of the bank, click here.
Bonham State Bank Celebrates 75th Anniversary
IBAT would like to congratulate Bonham State Bank as they celebrate their 75th Anniversary. The IBAT Board of Directors and staff congratulate Chairman and CEO Warren Jamieson and the directors, officers and employees of the bank on this important milestone for the citizens of Bonham and Fannin County. |
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| SOLUTIONS FROM SERVICES |
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Deluxe customers have a distinct advantage in creating a purposeful, profitable customer experience. There's a new sense of purpose in being a Deluxe customer! IBAT members use Deluxe to not only control their customer experience, they're measuring how that experience measures profitability.
Robert Hulsey, CEO of American Bank of Texas in Terrell, was selected along with a dozen community bank leaders to participate in the Deluxe Knowledge Exchange Collaborative. They have set out to measure the profit that a purposeful customer experience can deliver.
Their breakthrough efforts are being announced and demonstrated through webinars and regional meetings across the country. If you're already a Deluxe customer, we encourage you to participate in these sessions. If not, we hope that you will contact Curt Nelson in the IBAT office or a Deluxe Account Representative to learn more about the added value that the majority of IBAT members enjoy through their Deluxe relationship! |
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| BAKER WEEKLY |
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Current economic indicators have been mixed this week, albeit bullish for the economy. Read more in this week's newsletter from The Baker Group.
Although this information has been obtained from sources, which we believe to be reliable, we do not guarantee its accuracy. This is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. |
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| 2006 LEADERSHIP CONFERENCE |
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Have you registered for the IBAT Leadership Conference? Early bird pricing ends Friday, May 5!! If you have questions or need information, contact Julie or Yvette. |
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ON THE EDUCATION FRONT |
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IBAT and PBS co-sponsor programs throughout the year to provide a more economical way to fulfill your training needs. Some of the programs include:
Deposit Account Fraud
June 5 - Lubbock
June 6 - Irving
June 7 - Waco
June 8 - San Antonio |
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COMING SOON |
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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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June 15-17, 2006 - Galveston |
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IBAT 32nd Annual Convention
October 1-3, 2006 - San Antonio |
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Bank Operations Institute
October 8-13, 2006 - Dallas | | |
