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| RECENT NEWS |
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IBAT Board Affirms Legislative Agenda
The IBAT Board of Directors unanimously ratified the actions of the Legislative Committee regarding our proactive program of work at the upcoming session of the Texas Legislature. While there are always "last minute deals", key issues we'll be addressing proactively include:
 Limiting the ability of Wal-Mart and other commercially owned Industrial Loan Companies (ILCs) to branch in Texas;
 Modifications to HB 914, the local government conflicts of interest bill from last session, to provide some relief for banks doing business with public officials and entities;
Home equity lending enhancements/clean up to include emergency provisions when experiencing a disaster situation (lessons were learned from Hurricane Rita), clarifications subsequent to the ACORN lawsuit and some ability to allow a "cash out" refinance and/or the ability to roll a home equity loan into a new first mortgage instrument;
Designation of a "registered agent" for every bank to bring some consistency to the serving of court documents; and,
Actions as necessary to ensure that community banking is being treated fairly and equitably under the new margins tax scheme.
There will no doubt be additions to this list as we get into the fray, as well as numerous "defensive" issues to address. We were the only business trade association to testify this morning (in an interim hearing at the Senate Finance Committee) against one of the holdovers from last session - fees on international wire transfers to fund indigent health care. We will continue to be vigilant on this issue along with a host of others.
If there are additional issues you would like to see addressed at the state or federal level, please let us know. |
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| LEGAL EASE QUESTION OF THE WEEK |
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Question: Can the bank recommend to a customer that he remove the ag use valuation on his property and then use it as collateral for a home equity loan?
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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| SOLUTIONS FROM SERVICES |
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If you want to prepare for next year’s rate cycle, we encourage you to join The Baker Group’s Conference Call Thursday, October 12, at 11:00 am CST. IBAT has endorsed The Baker Group since 1994 and they will be presenting the 2006 investment strategies for the fourth quarter. Topics will include Liquidity Management and helpful tips on funding through repos. Click here to register today!
Save the date…
October 12, 2006
11:00 a.m. CST |
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| CONSUMER TIPS |
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Start Planning Now For April 15
Although we’re still months away from the April 15th tax deadline, here are some tips to help you avoid the last minute heartburn of tax filing season.
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| IBAT CONVENTION |
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This year's convention was a great success, and we're already making plans for next year! We welcome any feedback on the event, or comments or requests for next year's. You can give us your input by sending an e-mail to bkankel@ibat.org.
Mark your calendar for next year!
September 30 - October 2, 2007
Renaissance Worthington Hotel - Fort Worth |
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| CONVENTION PAC ACTIVITIES |
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IBAT PAC Raises over $120,000 during Convention
Thanks to everyone who helped raise money for the PAC during the Annual IBAT Convention at the Westin La Cantera. Here’s a summary of the events:
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Golf Tournament |
$15,650 |
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PAC Auction (Online, Silent & Live) |
79,812 |
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Dream Vacation |
19,270 |
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Fun Run |
300 |
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Laser Shot |
145 |
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Diamond Event |
5,000 |
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GRAND TOTAL |
$120,177 | |
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Congratulations to the following winners:
Golf Tournament - First Place: Kevin Monk (Alliance Bank, Sulphur Springs), David Phelps (Briggs & Veselka Co., Bellaire), Sonny Collins (Frost National Bank, Dallas) & Darrell Brown (Town and Country Bank, Stephenville)
Dream Vacation - Cynthia Dopjera, Harper and Pearson Co, P.C., Houston
Diamond Event - Mark Few, American Bank of Texas, Marble Falls
Special thanks to:
Robert Marling, Woodforest National Bank in The Woodlands and Pat Hickman, Happy State Bank, for purchasing TWO Chuck Wagon Dinners.
Darrell Brown and the IBAT Leadership Division Board of Directors for all of your hard work on the PAC Auctions year after year.
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| BAKER WEEKLY |
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U.S. Adds Only 51k Jobs; Jobless Rate Falls to 4.6%...Read more in this week's Baker Weekly.
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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ON THE EDUCATION FRONT |
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Don't miss these upcoming programs co-sponsored by IBAT and PBS:
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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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Contact IBAT or if you have comments or questions about this newsletter,
email or call Bonnie Kankel at (800) 749-4228. |
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